The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-12-30
UPWARD INFLUENCES
NOT YET EXHAUSTED
NEaCTsaN IN STOCK MARKET con-
TTNUEs. But NOT BEYOND
LIMITS.
FALL. BELOW AVERAGE
HOWEVER,. DEALINGS ARE ON
FAIRLY ACTIVE sCALE--SoHE
STRENGTH SHOWN ny
SrECIALTEES.
FALL. BELOW AVERAGE

NEW YORK. Dec T9.--AIthoueh
reaction continued In the stock market
to-day the further recessjons from last
weeks high level cf prices did Not
gm Beyond limits which niEht have
Indicated that the influences which
cSnsed the upward movement rad
been exhausted or that ahs5vpsive
capacity had been overtaNed by profit
taking sales
Business feli away somewhat from
inrs weeks average volumes. bat tho
dealings were on fairly active scale
nevertheless Closing prices we're &
esrssa rally from the low figures 81
-fs~ session ard net declines fer tire
dag were for the most par: II Irac-
stansa proportions
Some strength vas shown hv
speeia1s.es, notably Texas company and
Missouri Pac!ic displayed moro firm
ness than n had been EXHIBITING late
ly.
Ness Haven Neaktns.
New Haven weakened sharply In
the afternoon. apparently as & result
Of the announced closing of an old
savings bank Of moderate size ~ =
Connecticut town, the difficulties o.
which were attributed 10 tne shrink
are I'm the value Of its investment
holdings.
Canaaian Pacific WaE the NEST IN
settling influence Of the list because
liquidation In 1t persisted not only for
European account. hut apparently for
Canada AS we'll European selling
wax feature OF the early Wall Street
trading and the London market asd
not show encouraging signs IN the
hnaxsnass of It's response to the I'M
timely offering of SIS e6a. ESQ Issue
Of { per cent New South Wales bonds
The markets abroad were all more
or less affected by the year end ad-
3astmenis In preparation although j
ix to be noted that at none of the
worlds leading financial cehtcrs "
there any such monetary strain rs
there was q year ago.
Call loans
Call loans renewed in Wall stree
al IL per cent with hieh rate q
per cent and time funds lie an aver
age of per cent below the cor
respond ng rates last year Foreign
exchange held around asa IA for de
uand sterling. bat no = ttsfdft0r'
reading of the foreign eNchang'
market seems at present obtainabl'
anywhere.
IT would not be surprising, shout,
cash accumulated I'm American bank
FIFTY III me HEW yE1T n WY CIT TTff
I'd on to ship large amount Of goi'
to Canada or AT least TO make grant
of credits to the Dominion. Money
very tight there. and there is likel
To be a great need for accommodate
To- adjust conditions to the waniu
Canadian boom. Probably this
very nearly what is signi9ed by III
steady fall In Canadian pacIhe shares
Bearish Runors.
Some of the bearish Fumors whi'
were circulated through the Wa
street distrist suggested concerto
effort in some quarters 10 establish
lower stool, market level sue
operations were presumably invited u
the evidences that the in,Iket Ia
been called on to withstand a goo
deal OF realizing on long corcmitment
In the last half Of last week. 1t eoul
not be said that the list gave any c4Ha
Indications that the attempt was par
ticuiarly promising, although seIleT
for the fall had the firmer tendenrle
of money in their favor and also
disposition - place ar adverse con
etruction on the interstate commerc
commissions request 20 tho railroad
for information relative 70 their reeor
In financial matters.