The Richmond Virginian. (Richmond, Va.) 1910-1920, 1914-01-23
BUI|N6 MOVEMENT
IS ENCOURAGED
PARIS Is ONLY EUROPEAN CENTER
TO MAINTAIN DISCOUNT
RATES. -
-
SHAREHOLDERS REALIZE
--~---4-----~---
axxIrSH MARKET GiyEs RIsE TO
MANY RrMoRs WHICH ALL
LACK CONFIRMATION
BY LEADERS.
SHAREHOLDERS REALIZE

NEW YORK. Jan. Sa.-~FuTtheT en-
enlargement 70 the new buying move
g7,eny in the stock market was afforded
fodav bv the way IN which otti"II
discount rates toppled all over Europe
Paris was the principal exception, the
Bank OF France maintaining its rate
at Per cent. although private dis
counts were "a 81 per cent. below
hat figure and undoubtedly the sitna-
tten at Paris is operating abroad for
some restraint on expression In secu-
rtfies cf the worlds turn ia money X
* rc Re noted that Ina ali the last week
n So Of rapid rise ard active dealings
n The WaIt street share maFNef
Europe has not been recorded as con-
spfeuoasIy a buyer,
The Bank Of Euglands rate went
down frer. - to per cent. and
could be lower judging from the an
ss-@cedenteG reserve ratio which was
exhibited TIE Berlin bank rate went
"a = PER cent. and official rates were
lowered in Belgium. sweden. Denmark
and Switzerland Naturally all this
ended to increase the optimistic i'm
preston produced by the inspiring
SUCCESS Of fhe sale cf New York state
bonds on "Wednesday. when the issue
was more than ave times oversub
s-rlhed and went to the Kuhn. Loeb
corn ny syndicate st a price 80 yield
less than ID per cent.
sales Not Bearish.
The stock market had TO take much
aeliing all DAY. This appeared To con
tain little effort Of n heartsh nature.
but represented heavy realizing. There
ware also circulated during the ses
ptnn char acterfatfc stories of the kind
APT - he started when the pace OF
rising movement is being sPeculatively
accelerated. One of these Involved CON
lectures that either or both the BAL
ffIDore and Ohio aud Lake Shore rail-
roads had been liquadatfng their Read
ing holdings. while the conjecture did
not lack plausibility. no confirmation
was obtainabie.
According to another rumor, tho
United States steel Corporation WAS
eudeavoring TO adjust It's affairs with
the federal attorney general after the
fashion OF the recent settlements OF
litigation negotiated. No confederation
~ this runor was forthcoming 1t was
doubted because OF the confidence
which the corporation has felt In the
strength of it's case in the EoTernm IT
law suit and also because Of the sup
position that pending legislation to
provide method for assisting cor
porationE to conform to the law would
show that the Depart ment OF Justice
would anticipate the precise scope of
the new statutes.
There was no slackening In the pace
IF advance, and the close was made at
only negligible recessions from top
prices, while dealings increased to a
still larger volume than on wednes-
day.
United States Steel was the leading
stock in the whole market, but Its In
auence WAS reinforced by the Hccumu-
lation Of Union Pacific. Southern Pa
ctf3c. Northern Pacific and other
shares of their class. New Haven, I'M
der the circumstances. was noticeshiy
weak. and Reading was still a lag
gard
Call money renewed at per cent
Foreign exchange closed around
s4ss3e fer demand sterling, despite the
further fall In foreign discounts. Can
ada sent 1890. 600 more gold here
bringing its return of the metal so far
this year to $4,000 GOO.