The Richmond Virginian. (Richmond, Va.) 1910-1920, 1914-01-29
READING MOVES
Up LEADING LIST
MARKET OPENS IRREGULARLY
WITH PRICE MOVEMENT
HEAVY.
CLOSING TONE SOF TER
WEIGHT Placed SEEMS TO COME
FROM PROFESSIONAL TRADERS.
LITTLE FOREIGN
SELLING
CLOSING TONE SOFTER

NET -oRK, Jar. - Starting in
an trrer1,larIy heavy price movement
,An stock market ended the day today
,s.h a softer fune than Il had dis
s4ya1 fer a fortnight. There was
.,r.a &. a,rasfa;, Of raidinE operations
4~~rses AGAINST certain issues, notably
Astssour, Pacific ana the Rock lslhHd
s,s,eks. which were presumably SIN
sled 81. or : theory that thev might
!, ~ ~ pst..-ticslly sensitive to the IA
~. sw-.aoplaents N the affairs OF the
8. 1<7u.s auc Sal Francisco sys'efn'
.s-,S.~esaas4aI PRESSURE sencfh4ly
sasvaas 70 corlr.ruc tas r~-a<,l3onary
s~t4~.s Which ASH .sen Making FOR
!. .s.estt DAVIS n -ae neiie. that the
4,a.ae,. eNoaia II ripe For downward
49,, after navsn- 14af 20 absorb the
>.,s.-- r-Cfft taking ssales 30 WHOM u
49, f.s.eE s.Ns~cfed f4tely
qs~,ra .vaa q ijttie Io.e1erT1 sSlsinr
-,rt tnse wsei, 80 tay t9s-e has not
s.se2 ,sfAch - tire realizing when wa&
a.. ;a-onarn@cr aar:zs Thc .aore q'c-
.so e.rerata ~ last >~~ea-s a1"~fos
sn4 TIC s~~sght Applied u tflt mafKst
,,,s s.~n,e3 u CONE rom profo ssio aai
ey5ttlina quarters
~ans-acts for he acr,tne nAd some
arcnsi~aaegpett from tic overnight
aezvs aai the news Of tho day ana
ewtx:de f@yinr showed less disposl-
ion 20 follow prices UP,
London sent over n tower average
~ quotations. bat after the early
acapiness the list hardened and snow
v Nil around frinness under the leao :
sYshlp of Reading, which w2s moved
n, quite aggressivelv. u WAS not until
he last hour that quoted vnlues Weld
IA aaa3u. but then they ~eceded rather
;apldlv.
Fre@f, Buying oI Reaction.
=; would ret he Surprising tn com
r.tf-t observers ef the recent dealings
ra4ctan should develop and If Il
Faer i will provide a more satlsfae-
i4ys -ts+ az the real position Of stocks
AT, tire real attitude nf traders and
- s,nalsc fhav has been afforded BY
40 persistent maintenance of advance
"A very satisfactory sign would he
even II fresh buying should come N
an such reaction as might occur ia
amT consideration eff the two~sided
aSntsct 81 quoted values Il should not
he forgotten that underlying support
Il furnished by the worldwide relax
alton in money
According 10 London aavices a
further reduction Of the Bank Of Eng
lands discount rate 70 - per cent
fndax was clearly indicated, nor would
4 TAN 10 per cent he regarded as
nrYwarranted Private discounts were
ssuoted at la por cent, and n wide
dttfarcnce was reported between pri.
,ate discount and the bank rate a
eAsr4s although & was not suggested
hat the Bank If France az yet il
.$a 7v TO reduce its figure.
Place None, On Better Terms.
Money here was chiefly uoteworth!
f.r tha increasingly favorable terms
whirh mercantile borrowers eoulC
ggsaoe their paper 4 per cent beint
4saaied fer good names Foreign ex
a.sanEe was .siist.nctiv weak, deman'
rling closing around S4S595. bu
~ wing SOLID O points lower
Views expressed about the inter
eEatc commerce commissions ruHni
respecting railroad abuses in the mat
.sr If parting with a share Of thei
4arnires "a short lines industriall
es1ned, were mixed The decision wa
fvt construed as utterly adverse I
antjespstions OF favorable outcou1
~ the Eastern rate case, but It wa
thought IN denote some likelihood o
,telav In reaching n conclusion.
The United States Steel corpora
lions report for December, and tn
nast year came In for large amour
fr comment and apparently had sol
effect on the steel shares in the direc
tor Of restraining purchases upward