The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-08-09
however, IN DECLINING MOVE
NEWT, MARKET OFFERS STUB
BORN RESISTANCE.
TREASURY HELPS OUT
NEW HAVEN TrMBLEs TO NEW
LOW LEVEL, WHICH ~ ONLY
ACTION REALLY wURTLf
OF NOTICE.

NEW YORK. August STOCKS
closed tonight with firm tone show
inr irregular price changes. tntil the
last half hour OF the session lhe
market was rather reactonary ana
under some steady pressure OF reaIlza-
tton and speculative sFItins IN auNaiiNe
@. the government crop report whl.u
~ras published at 2:15 o'clock. IheFs
20. a good deal Of strength all around
IN the early trading. but gains then
established served only 10 make a net
ter selling level ,.. ,,.,,
The appearance Of the nst was suSr
during the greater part az me seSS'o"
A. to encourage heartsh trading opera
tions. but in all its declining nov
nents the market offered good deal
- .t,,hhorn resistance The weakest
prioes were made Just before ana after
The appearance Of the crop Hsures.
subsequently, Il was made evident ,hat
the tendency of quoted values nae
not been changed. The Indicated
trend was still upward In response ~
ether influences than those aHofue"
Nv the crop factor or various unceF
..,r,tss NJ the. financial future. the
mos, important of contemporary ot
,..ion,nents being the stimulus 10
yaIues Of every description. CONNER
cial or ffanciai provided by the treas
rry's generosity In distributing inc
farreness of the government resources
among interior banking centers.
Ncw Haven Takes Tumble
r,ara Was nothing particularly de-
serving Of mention in the special prlce
,roxerents Of the day except perhaps
+ha fall of New Haven shares 10 a new
lew quotation. II Is probable that 'he
rressltre on this stock represents
nrocess Of shifting into the new cor
vertible bon Is Of the New raven Ioau'
There was increased activity Win
continued recovery OF strehkth =" ga
arnment bonds and the general hona
rnarket maintained character o.
Using expansiveness which makes the
rrasent investment market phe-
nonnenon. August being usually u
ynon,b of extreme fairness ana
apathy. ar.ar.
tained in some quarters resaFolhs ~.
rron return were not borne our os
,he renort itself II is altogether IKE
IL thaf the exhibit is misleading, Tor
conditions since the estimates were
admitted have been more adEPtsf
than they were at any time IN july.
Accordingly, the cop outlook Is no.
as good as appears on inc iEth ~
The eovernn MT She wing anu 49,
was nothing in the weather adNice'
tnaay IN denote r. change for the bet
ter. ~
Nothing Vnfavorable In News.
There was nothing in the crop re
mort an a whole to prevent the s'%
market from continuing IT'S reSPonA'
~ the treasury's initiating policy MOI
Ala the news in other particulars Save
4 - rasnac, IT, the Mexican situation
tell against the constructive side o.
values. a,,;a
Mexican affairs suggested hnancla
canton. but the fact that the tofeie'
markets were firm was favoraoiy in
terpre,ed in this regard.
II was said that the orerins
aouthern Pacific stock to Union t,ac'h
shareholders would he announced mex
week in explicit terms together WI. wltl
fhe underwriting announcement lhis
- course. gave the stock market some
thing 10 look forward to with paruen
lar interest The feature OF n'ohe
was the frrnness Of foreign eSchahee
IN the known movements OF cash IN
local banks seem likely to report
moderate gain tomorrow.