The Richmond Virginian. (Richmond, Va.) 1910-1920, 1914-03-18
ALTERATIONS IN WALL STREET
IN RECENT DAYS ARE NOT
SURPRISING.
SMALL GAINS SHOWN
SPECIALS BECOME LEApERs--M.. X.
4 It. AND RUBBER HEAVY.
NORTH AMERICANS DIS
PLAY OF STRENGTH

NEW YORK. March lin the IL
logical oscillation Of quoted values
lately there has been So little indiCa-
ton of general market trend that
alterations for weakness TO strength
and strength to weakness, have come
to be taken as matter of course, and
70 devoid Of significance as 10 deserve
Of serious consideration. There Is
danger under such circumstances that
the beginnings OF real and DEFINITE
movement OF prices may be detected
Nevertheless it was not apparent
that today's market gave a more con-
vinctng exhibition of actual tendencies
than any of the sessions OF tho re-
cent past. There was, to be sure.
very manifest amount OF bullish ef
fort expressed IN terms Of rumor, con-
lecture and argument, rather than in
an expansion OF dealings, but II still
remained 10 be seen after the close
OF business whether or not the list
had proceeded TO get ont of It's mar
row range in which It had been swing
Ing.
Final quotations showed a general
array OF gains for the day. for the
most part fractional,
The principal advances were still
In special descriptions the custom
AIRY leaders having turned only mod
erately upward just as on Monday
they had turned moderately down
ward The only conspicously weak
stock, Missouri. ansas and Texas IRE
ferred which held another sharp de-
cline, although II was authorita,ively
stated that tho dividend on the shares
had been earned. United States Rub
Der was rather heavy on indications
that negotiations fer new financing
had not had satisfactory outcome.
The Rumely ssues rallied further
on the announcement that the COM
pany had been tided over its immedi-
ate difficulties through arrangements
FOR extending Its notes. but optimism
was qualified by the onerous terms
on which the arrangement was eff
fected.
Cireumstautial reports of a propos-
ed Offering of securities for suhscrip-
tion on conditions very advantageous
10 the stockholders appeared to ex-
plain the strength winch North Ameri-
can has been displaying lately. In
the main the particular strength of
prices was attributable to the actiT-
ties Of speculative pools in the case of
specialties, and to leisurely short
covering in the case of the ordinary
speculative favorites. Foreign deal
ings were again on the selling side.
New Haven exhibited some rallying
strength early in the day, in conse-
surances from Washington implying
the probability of a speedy adjustment
of the companys affairs with the gov
eminent,
Foreign advices showed why It was
that Europe WAS still a seller, The
markets abroad were again more Of
less unsettled and heavy. in cnnse
quence Of the various unfavorable in
fuences which have been discussed
here lately. augmented by the Partisan
distur bance resulting from the resig
nation OF the French minister Of
finance. Russia obtained the bulk o.
the new South African gold laid down
In London. paying above the min
price for it. The international goic
movement was made more interesting
by the report Of South American
Operations, and Wall Street heard o
negotiations for exports of our EolC
to Argentina. which has Just PLACED
half OF a $50. 1000. 900 loan In London
Foreign exchange here was strong
demand sterling rising TO as IL.