The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-08-05
STOCKS DISPLAY
SOME H|RMNESS
DEMONSTRATION AMOUNTS PRAc-
TTcALLr TO AN EXHIBITION
OF STRENGTH.
ADVANCES IN CIR AIN
REALIZING SALES ARE INDUCED IN
AGRICULTURAL STAPLES by
RECoyERIEs~-HoiID
IN LONDON.

Tw YORK, August 4--While the
news Of marketwtse bearing was NJ
n mixed sort. with perhaps pre-
pouderance of unfavorable impliCa
tons. stocks TODAY made n renewed
display ~ aggressive frmness Indeed
the demonstration amounted prac~
t,caiiv TO fresh exhibition Of
strength considering thc contracted
scale ~ dealings and the refusal ~
the share list 70 respond to depress
ing considerations. The grain markets
opened Jumping. and violent advances
were scored under tho leadership Of
corn. The stock market paid no ap-
parent attention N these develop
mentr. although they emphasized the
last weeks rise in grains,
During the forenoon stocks were
Gull and moderately heavy. but there
was obviously no pressure Of offerings.
Professional traders took their cue
from this and from the comparatively
rapid loss Of gains IN corn. wheat and
oats.
Realize On Grain Recovcrics.
Naturally realizing sales were IN
duced In agricultural staples by the
recoverfeS recorded. hut at the same
time the weakening of grains was ac
celebrated by their continued heavy
movement from the farms tn interior
points. ana DIV better weather ithi-
cations Lower temperatures and
signs Of rain in the arid areas re-
ceived more notice from spectators
I'm stocks than had the recent sugges-
tons Of crop impairment.
when purchases OF stocks were
made II was found that prices went
up very easily and the last hour was
n period II sharply increased activity.
with closing quotations at about the
high level of the session. There was
some selling Of express stocks. but in
the main the features of the list were
features Ct strength. and this in itself
was some evidence Of the present
financial mood The Interstate COM
m~rce commissions decision ordering
reductions Of about rs per cent in
express rates all around. and involving
an apparent curtailment of per cent
or more In the gross revenues OF the
express companies. might have been
more influential for depression.
No Foreign Dealings.
There were no foreign dealings In
the stock market because of the Lon
don holiday. but European advices
over the weekend reported improving
sentiment at the principal centers and
come Confederation was furnished by
the continuation of recovery in French
of new financing was reported from
London, but just now the foreign dis
position seems TO be 10 take account
chiefly Of the reasons for expecting
a stronger investment market in the
autumn If the circumstance of inter
national politics are propitious.
So far as money goes the feeling
abroad lis one of less apprehension.
while here the idea is spreading that
we may work through the fall with
out severe strain. There was no
change In the government bond mar
ket, and apparently very little business
in these securities around the price
established in last weeks rally on
Mr. McAdoo's announcement OF a
policy intended partly to support the
government issues. Washington adj
vices, which ascrihed to the secretary
of the treasury purpose to increase
the deposit of public funds. by much
more than the 100000 stated last
week, were studied with curiosity, for
they did not explain from what sources
these funds were to be derived.