The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-10-26

NEW YORK. Oct 26.-Consldering /
the unsettled conditions of the Next 7
can situation. the stock market today
was almost strong. Dealings were
obviously OF an unchanged profess
SIGNAL character with trading In light
volume. but depression In the first
hour was not extensive and was sue
ceeded by a general upturn. which
left prices very little changed for the
day.
Wall Street had no specific news to
operate upon, but such Mexican ad-
vices as were received were hopefully
construed There was nothing doing
In the foreign markets of any striking
consequence and Weekend develop
ments or information merely con-
tinued routine considerations.
Report Irrcguiarity.
The commercial agencies in their
review of the state OF trade reported
irregularly, but tho country knows
!.-s.. l..ss.a.af Alia!1lGaa
is moving although the most indexes
suggest receding tendencies. This
country's bank clearinEs for the week
disclosed a decrease Of about 5 per
cent IN comparison with the cor
responding exchanges last year. thus
carrying along an exhibit Of contrac-
ton which began with the advent Of
autumn.
Foreign exchange manifested furth-
er weakness, demand sterling selling
down TO s4.S5.10, new low price for
the season. If our exchange contin-
ues 10 fall II is possible that we may
again hear Of the Bank of England S
purpose 10 put its discount rate high
er TO prevent gold shipments from
London to our market, Meanwhile
Canada drew again on local gold sup
plies taking 100000 from this city
Bank Statement Disappoints.
The bank statement was not In line
with expectations. The average fig
ures were at large variance with the
actual, except In the matter of cash
changes. although these were not in
agreement. The large loan and de-
posit decrease In the average showing
undoubtedly reflected the reduction
made in the latter part of last week
and reported then IN the actual state
ment In today's return of actual
conditions loans increased $685., 600
and deposits decreased sf,9le,o00.
The stock market Of the week indi-
Gated degree of previous oversell-
ing 1t rallied easily and quite vio-
lently last Tuesday ON purchases
which responded TO the signs at Wash
ington that criticism Of the currency
bill had produced a very gratifying
impression on the administration ana
that the prospect for amendment OF
the house bill had been vastly i'm
proved.
Automatic Rally.
After the middle OF the week II was
apparent that nothing more than a
professional following had been at
tracted by such operations, hut the
market rallied almost automatically.
The more exciting state of Mexican af-
fairs was directly influential IN re-
stricting stock market business in the
last half of the week. but there was
no evidences If efforts to liquidate
securities through fear Of the outcome
~ the diplomatic !mbroglio
Happenings abroad were mostly
adverse to values, The London stock
market was generally heavy to weak
with alterations of weakness and firm
ness on the continent. The Central
Bank managers Of the European
money market are not realizing their
control, and Paris dispatches report
ed that the Bank Of France was again
practically boarding Flod.