The Richmond Virginian. (Richmond, Va.) 1910-1920, 1914-01-01
'|All STREET. ENDS
ITS lEAhEST YEAR
ENT1EMs isI4 WITH HOPEFUL Eek
rEcTauroSs BASED ON Eek
PERIENCE.
SOUNDNESS RE STORED
FINANCIAL MARKETS WILL BE
AHLE SOON TO ANTICgpATE
EVENTUAL RECOVERY OF Busr-
NESS PROSPERITY.

NEW YORK. Dec. sr.--There closed
on the stock exchange today the lean
est year that Wall Street has known
In decade and a half
stock market dealings have been
contracted and meaxre with transac-
tons. owing largely to a iquidating
fsacvement OF vast proportions. but all
.lsis was in prospect a yea, ago and
The stock market community enters
1914 with hopeful expectations, based
On n ststsG deal of experience. that the
main tendencies OF the future will be
In the direction Of improving values
and increasing activity.
Something like degree Of con-
adence obtains that whatever the near
by trade and industry may be the
I financial situation has been restored
h conditions OF soundness and that
The financial markets viii before long
be able somewhat to anticipate the
svgHruEt recovery of general business
prosperity
Rather Negative Close
The closing stock market session of
1913 was a rather negative sort of at
fair. Dealings fell away 10 little more
than half the scale of trading In tho
fi0cfuated with a good deal of I'M
certainty and rapidly. the list. as a
whole. displayed steadiness and noted
changes at the end Of the day were
TN the main uni1n portant with perhaps
II small average of advance. American
Telephone was rather weak but the
mere pronounced movements OF prices
resulted chiefly in gains These took
place In more or less special quarters.
American Sugar Refining shares
moved up on expectations OF early
settlement Of the company's Difficult
ties with the federal government
There was not, however. much TO he
said about the course of particular
Etacks. but one piece Of stock ex-
Change news was decidedly Interesting
"a an indication OF the feeling with
which the end Of the year was APP
preached, This was the reported sale
of seats at $4,000. gain of $4,000
over the last previous sale
Foreign Advices
Foreign advices contributed nothing
"a the influences of the day European
finance seems to be more or less OPP
pressed by the huge task OF new
s1gecs.rdsv promotion and absorption
which Hes ahead Of II. b9t II can hard
III he said that the foreign prospect
Is as clouded as II was at this. time
last year An illustration of this Is
afforded by the reported understand
ing arrived at between Great Britain
and Germany regarding certain mat
tiers OF long standing diplomatic con-
troversy between the two nations.
The Idea of carnival which seized
on the Wall Street district early In
, the day, despite the losses and tribu-
1ations OF the past year, seemed how
ever to prevent any display OF In
fereaf in political news. either of an
International or domestic character
The business troubles which came
70 light on Tuesday did not appear to
evoke appre hension of an lnfavorabie
reflection In the stock market, al
though IL is recognized that the per-
sistence Of commercial cmharrass-
Ynents and industrial depression Is
hardly propstious for any - onounced
display Of rising strength III securities.
Adverse Influences Exhausted.
Currency was given To some recent
remarks by the chairman of the
United States Steel corporation rela-
live TO the possibility of a more ex-
tended period OF business contraction
than had been looked for, but the fact
cannot be too strongly emphasized that
this liz a prospect which the financial
world has been engaged in discount
iur. Meanwhile II is worth observ-
Ing that the Iron Age. In its weekly re-
view noted the spread of sentiment
IN the steel trade that adverse factors
had very nearly exhausted the worst
Of their Influences.
The years money market did not
end with anything like the Indications
Of strain and tension that were in ei-
dence AT the close of fsTZ. Call
money renewed at per &c at and this
was the high rate. There was a little
upturn in foreign exchange. demand
sterling closing at s4.Sb5e.