The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-08-24
Prices Of STOCKS
MOVE UP TR|FLE
ANIMAL REPORT OF A l.. C. Is
Such AS To SEND THAT
STOCK Up.
CHEMICAL IS STRONG
FINANCIAL SENTIMENT is INCLINED
To REGARD MEXICAN sIrrA-
TIoS WITH LESS or
ANXIETY.
CHEMICAL. is STRONG

NEW YORK. Aug. 25.-Stock
prtces moved. up a trifle today IN an
exceedlugly duh and narrow market
There were one or two especial iea-
lures Of interest. Quite sharp al
vance occurred IN American Docomo-
tive shares on the publication or the
annual report Of the company, snow
ing earnings equal 30 III per cent
on the stock, as compared with less
.har, fe % per cent IN 1912. Cana
dian Pacific was substantially higher
bu. as the London exchange was
elosod this incident did not attract
- much attention as il might nave
otherwise done
virginia Carolina chemical and
American Cotton OIL were also con-
snicuousiy strong for reasons appar-
emily that concerned themselves
alone Put in a general way the
ffrmer tendency Of prices appeared 10
reflect simply the operations or the
professional traders Financial sen
;iment seemed inclined to- regard the
Mextcan situation with 4 little less
anxiety. and the proceedings at the
bankers convention at Chicago prop
ably met with general approval.
The weekly bank statement re
ported a rather large Increase IN
loans In the actual condition. TINS
amounting 20 nearly s9,Ooa,ooo.
changes in the cash item were I'M
tnnor,ant and the surplus reserve
was reduced by s2.525,0 GOO 10 s22.-
1T8.0e0. as compared with sl5,S45, GOO
q year ago.
Prices Seem stable.
The behavior Of the stock market
I'm view ef the weeks news OF fnan-
ctal bearing was a rather notable
commentary upon the stability OK
prices after the large advance that
has occurred In the past two months
This underlying firmness OF quotations
In the face of the disturbing reports
regarding critical situation exist
ing between this country and Mex
leo was indeed the one prominent
feature II the dealings In addition
the financial district was confronted
with distinctly unfavorahle news re-
garatng the state of the corn crop.
Reports Of drought persisted, al
though these were offset to some ex-
tent by fairly general. II not exceed
ipgiy heavy. rains In the latter part
Of the period. Nevertheless, 1t was
esta bllshed beyond n doubt that the
corn crop states. like Kansas, Mis-
souri,! and Oklahoma had suffered Sc
yereiy from the high temperatures
and lack of moisture. even II the
worst fears of the private experts are
rloi borne cut by tho real facts.
The foreign markets were as IDLE
ard stagnant as our own. but on the
other side too underlying strength was
spsiceable. The price OF the French
rertes continued 70 new high levels
an the present movement, and an In
creaslng investment business was the
feature Of the markets abroad. Thu
weekly reports Of the great foreign
banks were most reassuring. Botl
the Bank Of England and the Banl
If France managed to further en-
large their gold holdings, so that tn
former finds itself in the somewha
remarkable position Of having thu
largest percentage OF reserve Il
liabilities Al this date In any year bu
one in its history, and the latter Il
shown to be rapidly regaining more
comfortable position.
Market Has Severe Test.
On Tuesday the stock market re
ceised a severe test. Dispatches from
Mexico City were OF kind that point
cd to a state Of high tension in tn
relations between this country ant
the ne!ghbor!ng republic These re
ports were subsequently denied, bu
the denial did not serve TO eliminate
a general feeling of uncertainty, an
an idea that the situation might con
tain most dsagreeable possibilities
Later developne nts emphasizing tn
fact that both governments were pro
ceeding with the utmost caution pa
the matter In more favorable ligh,
Through all this confusion the stool
market maintained an appearance o
firmness. Speculative commitment
were greatly reduced. and price
from Monday on slowly lost ground
But at no time was anything Xix
weakness visible. frequent rallies in
teryened. and net recessions wer
really inconsiderable. It was up
parent that the dealings We're almos
entirely for the account of profes
rf~