The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-10-29

S SOME IMPROVEMENT

NEW YORK, Oct Is There was
sometime like contradiction be-
tween the movement Of prices I'm the
stock market today and the charac-
ter Of the most important news de-
velopments Stocks displayed firm
ness in the forenoon. but were weak
IN the afternoon. ana closed az an
average Of decline, particular heavi-
ness being shown IN the Hartman
Pacific issues.
Trading was on n moderately active
scale, and for all one could see, deal.
fngs Of the day had 70 b. disassociatcd
from Usrketwise Information. Rust
ness seemed to continue largely pro-
fessional, and may have represented
profitable retirement from long trad
ing positions, pins selling for the
short account stimulated by the in
dications that the list was softenng
under pressure.
London Stock Market
Following the reduction in the I'm
per;al Bank ~ Germanvs discount
rate on Monday, the announcement
that $4,000 600 gold had been en-
gagged In London for import here,
was specifically al least further evt-
dsncc of some essential improve
men. in Tho foreign monetary situa~
tier The London stock market was
firm. with q good deal nf strength in
censois. hut at the Same t}lne there
were peculiar features Of the foreign
news Dispatches from India report
I'D that tho financial crash IN native
sourccs In Bombay was causing r
spreading If local disturbance. and
such affairs can never be ignored in
times like these The Berlin stock
market was reported weak. despite
the action # the Bank Of Germany
on Monday, and very firm discounts
We're auo,cd IN London
All az tho news Of thu dav was not
wholly satisfactory, however. al
though there was nothing during the
session of much consequence Infor-
nation about the Mexican situation
was meager, bat there was an under
current ~ uneasy feeling that events
were forcing tho country towards IN.
Prevention and this may have had
something to 10 with the late trend
Of quoted values.
Steel Trust Report
IT was not untn after the close 81
business that the United States stee,
corporation published its report for
the September quarter. The average
Of advance estimates. current in the
: -rr-r
net earnings AT upwards Of 100000
han The actual eEhih3 Of SIS $50 -
COO may. therefore. he regarded as
somewhat disappointing although J.
compares fairly we'll with other OK
hihits for The corresponding ouarte-
In past years.
The budget Of railroad returns pub
llshod during the session, continued
the tale Of net decreases. which be
gan to be told a few weeks ago.
The trade news Of the day included
the appointment Of receivers for tn
Pope Manufacturing company o
Hartford. and the Sealship Oyste
company. The first named concerl
was ore 81 the cripples reorRanizet
after the panic Of 1907. and had beef
paving dividends which might wei
have been withheld
Neither Are symptoms
The Sealship oyster enterprise wa
over. capitalized, and dubious from
the start Neither case could h
properly he regarded as symptomati
Of industrial positions generally al
fhouek both bore evidence of tn
strain. which contemporary circum
stances are imposing on companies f
wenk condition
FOREIGN exchange hardened dur
ing the day, the uptHrn being norma
after the reported operation in gnl6
call money ruled firm At the advance
which has taken place this week,