The Richmond Virginian. (Richmond, Va.) 1910-1920, 1914-01-10
[[AD|nG ISSUES
Make SMALL GAINS
1 tRREGrLAR CHANGES ARE SHOWN
BY THE CLOSING
FIGURES.
IS STILL F ( V ISH
40 PERCEPTIBLE ABATEMENT. BUT
TENDENCY or TRADING TO
CONTRACT DURING UNCERTAIN
PERIOD CONTINUES,
IS STILL FEW ISH

NEW YORK Jan. a.--WhiIe tho
feNerishness which the stock market
had exhibited all the week was moi
: percepuhiy abated today, the tenden-
~ or trading 10 contract in this un.
certain interval, was continued. and
although prices moved with a good
deal of irregularity the list as whole
aHered resistance To pressure. and 10
ansettling influences.
Irregular changes were shown bN-
siossng figures. bur the majority Of
seading Issues made fractional gains.
Canadian Pacific wss rather weak.
ss was New York Central. but il NAV
Ne said OF such Phenomena that there
have been some Indications lately that
process of switching was going on.
IN which commitments were being
transferred from stocks whose posses
don was conjectural to others whose
Enfure seemed more assured, especially
when the transfer could be made at
approximately the same price level
Tor shares returning about the same
FIELD at present dividend rates.
Meeting of Congress.
The market acted very much as
though il were affected hy persist ar,t
prefit taking. and speculative selling.
az well as by the various doubtful
matters bearing on values. but sus-
tanned on the other hand by the in
creaxing cheapness OF money, and by
The hopes OF an early vision nf po-
atical or1ens at Washington of fav-
prable import for corporate enter
prise. The resumption of the con-
kressional session next week Is "a large
factor in immediate financial calcutta
hon
The rapid relaxation Of the money
market was responsible for broader
investment inquiry. both for bonds
and short time notes. verv sharu
rise in Missouri Pacific notes wac ope
of the features of the market and it
was renected In strength in the Mis-
souri, Pacific shares.
1t seemed not to be commonly
known that, after reaching what had
been assumed to be a practical agree
ment with the attorney general. the
American Sugar Refining COMPANY
had been astonished to learn that It's
program OF settlement. which renre-
scented s. large surrender to the views
OF the department of Justice, il had
been rejected, and for what appeared
to be nothing more than mere whim
The shares of the company were firm.
but the facts referred to were not
altogether favorably construed in
their wider bearings by those who
know about them, and found II diff
ffcuit TO reconcile them with the re-
cent attitude publicly adopted bv the
administration towards business inter
ests desirous OF signine President VIII
sons constitution of peace,
Marketwise news was In extensive
variety, and In considerable quantity.
It's contradictory nature matched the
confusion of the share list compiln-
tons OF bank cieafngs for the weak
indicate some increase over the cor-
responding week last year. hut this
can hardly represent business better
ment rs much as II does the progress
Of the liquidating movement In bust
ne1s.
Perhaps the most striking fact of
the financial day was the high esti-
mate placed on the cash gain by the
local banks this week. according 10
the known movements Of money
RoundIy these estimates averaged,
about S25. 600, 900, and Judging from
the slump I'm money rates during the
week the calculations are not at all
reckless. Call money renewed at two
ana q half per cent, and there was
another pronounced drop in discounts
abroad. Canada sent $500. 900 more
gold here. making the total return
from the Dominion so far this year
$1.l0o.0 900, but foreign exchange CON
tined to exhibit rising strength in
face of the movement of foreign dis
counts Demand sterling sold at
AIS IA. and in banking circles II is
coming to be regarded as most prob
able that gold will he exported in
sofne volume during the next two or
three months.