The Richmond Virginian. (Richmond, Va.) 1910-1920, 1914-12-16
|NCEs SAG some
N STOCK MARKET
sUPrLr or sHAREs OF DoMEs TIC
ORIGIN INSTEAD OF FROM FOR
EIGN HOLDERS, As EXPECTED.
SALES VOLUME SMALL
NORMAL CONDITIONS so YEARLY
aE-EsTABLIsHED EMERGENCY
MEASURES WILL SHORTLY RE
ENTIRELY ABANDONED.
SALES VOLUME SMALL

New York, Dec. l5.--Although
prices moved downward in the stock
market today. in some cases quite
sharply ana extensively downward,
the wider opening Of the Stock Ex-
change to public trading WAS Just as
encouraging In It's general impliea-
lions as when on Saturday and Mon
day quoted values rose with even
naore emphasis and rapidly
The restoration Of the FUN list for
floor dealings sui ject to minimum
price restrictions might have been
Wpected 10 mark an objective for
!. speculators who had bought In ad-
, vance OF Stock Exchange resumption
and the important fact is that the list
displayed underlying stability, despite
the weight of profit taking sales.
good deal of rumor was circulated
abou; foreign liquidation. probably
because OF the pressure which appear
I'd early and persisted In stocks like
Baltimore and Ohio. Union Pacific and
United States Steel. which have long
been heavily held on the European
continent. but II proved very difficult
to trace selling for foreign account,
and the foreign exchange market did
not give airy striking indications OF
European liquidation.
ass Sterling remittance rose about a
4 nhiI cent Al " VI ufs MAbH tADkSs
quoted at AS at the close. but II
has not been British selling Of Ameri-
can securities which has been appre-
shensfveiy regarded az disturbing
s possibility. Other forms of exchange
were hardly arm. reichmarks in par
p-ticular showing a sagging tendency
Stock Supply OF Domestic Origin.
All the signs were that the supply
EFF stocks which came into the mar
ket was, for the most part. OF domes-
tic origin, and. apparantely. from
speculative sources. The total amount
!. OF transactions was but thirty thou
sand shares more than in Monday s
Rising market. although on Monday
only about half of the active list was
open to floor trading. The selling
K today was, therefore. in no great vol
!, ume-
1t served to Impair. a superficial as.
pect OF weakness to prices, but on the
whole. the market gave a very good
account Of itself. ana the array OF ma
tsrial declines shown at the close a.
compared with the opening range OIL
with Monday nights level could bs
worry fairly regarded as dsnoting onl,
q process Of correcting the excessiv.
violence OF the initial rise which thu
stock Exchange opening had stimu
lated.
q. Not a LITTLE heartsh effort mingled
with the closing out Of long contracts
and the swing OF reaction suggested
that Saturday and Mondays gain has
beon owing very largely to the agi
lated retreat OF bclated short In
terest.
Strong at Opening
The opening was active and strong
but after the first few minutes prices
= yielded gradually and the recession
continued until the very late dealings
when there was some little upturn
4 Roth buying and selling were mos
pronounced in those stocks which
q were first admitted to open tradini
today, but the construction which
most careful observers placed on tn
y market Of the day was borne cut b.
the action which the Stock Exchaux
Governors took after the close. Thi
practically constituted the abandon
ment OF all emergency measures an
the assumption once more of the Gus
aomary duties OF the regular govern
ing authorities of the exchange,
Minimum prices will be maintained
for a while longer. with special com
niittees attending to them. but 1t |
reasonable conjecture that II secu
rites in the course of the next few
weeks seem to have established them
selves normally around given prtc
levels even the protective minimum
will be removed.