The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-08-20
Disturbing NEWS
had LITTLE EFFECT
MARKET MIGHT HAVE BEEN
WEAKER. CONSIDERING AD-
KS VERSE CONDITIONS
FOREIGN MARKET WEEK
MOVEMENT IN LONDON CoMMrNr-
-. q
-, Gates ITSELF TO COPPER
METAL MARkET--wAsH-
VA rSGToS NEWS HELPS

NEW YORK. Aug fa.-ConSlder-
ing the disturbing character from the
overnight news about the state OF our
relations with Mexico. and especially
considering the surprising audiences
pf those disconcerttng developments
teday's stock market might nave
been much weaker than was the case
ard still have furnished no reason Tor
esfonishment
That the reaction IN the share list
from Mondays flrmress was no
greater may be further testimony
~ the practically unimpaired
maintenance Of a strong technical
position in the market despite the
recovery which has taken place IN
quoted values In the last two months
II the list is still in relatively llqul-
dated condition had news can fail 10
make much adverse impression un~
less X ls absolutely disastrous. PAR
ttclilariy is this apt 10 be true when
the monetary situation has neen
growing more comfortable and when
the normal tendencies Of trade and
industry to expand in the autumn are
20 some extent operative.
Foreign Market Affected.
The foreign securities markets were
affected by the Mexican advices and,
AltnOOEn there WIS tPt tlthNf4f Ph'''
ness on the continent London was
heavy II weak. the movement com
rnunteating itself to the copper metal
market. where declines also occurred.
The fresh unsettlement Of Balkan af-
fairs by Turkeys bellicose attitude to-
ward Bulgaria, aggravated European
ureas,ness and before the Wall
Street opening American Issues had
sold off from a half point to a point
from Mondays Wall Street close. In
the initial trading here the London
level was promtly accepted, and IN
the forenoon further recesslons were
generally scored.
AS Washington began 10 contradict
the extreme statements In circulation
about Mexican relations, such pres
cure as there was on stocks diminish
ed The professional element did
not feel altogether confident that dis
patches from Mexico could he count
ed 10 give a veracious version of the
situation, and furthermore the fail
ure Of recessions to induce increase of
GALES was not encouraging 10 opera
tors for the fall.
increasingly Dull.
During the middle of the session
and until we'll into the afternoon the
list ruled heavy. but the market was
increasingly dull. Traders found
stocks in scanty supply. when they
sought 20 retire short commitments.
and a very small amount OF buying
caused general rallies Of a half point
70 point, and more so that net
losses for the day were on the aver
age ~ fractional proportions only,
The meaere amount Of business for
the session was possibly come EVIL
dence Of the effectiveness Of the
fiduidation of the past year In render
ing the market more or less immune
TO unfavorable events, evidence of the
same kind that has been Supplied by
the response OF Wall Street lately TO
the damage sustained by the crops
Next 10 the crop position interest
was chiefly directed 10 the money
market Foreign exchange reflected
by slight firmness the impression
produced by the Mexican develop
ments out the domestic monetary
situation was in no way adversely af-
fected In financial comment point
was made Of the extensive buying
lately Of commercial paper. and the
discovery that there was a scarcity Of
good bills.