The Richmond Virginian. (Richmond, Va.) 1910-1920, 1914-02-19
NAME Of WILSON
POWER IN MARKET
NALL STREET BRIGHTENs AT
NEWS PRESIDENT ASKED
EARLY DECISION.
FREIGHT RATES TOPIC
,ulL MORNING FOLLOWED BIZ
attCkE>ING or BUSINESS.
MARKET CLOSES WITH
AVERAGE GAINS.
FREIGHT RATES TOPIC

NEW YORK. Feb. ls.--That Presi-
font Wilson's name is 3 maglcat one 10
9oniure with in wall Street as 1t mas
seen IN Washington, was 0fnoilstra at
I'D in todav's stock market. FROM
A. Of weakness late in the forenoon,
the market was turned abruptly to
d.spIay of general strength on circum-
stantial reports that the president, IN
conference with the chairman OF the
interstate commerce commission, hsd
urged the Importance OF rendering al!
early decision on the application OF
Eastern railroads TO advance HelEht
rates.
This news seemed to disclose
moderately oversold position of the
share list. although 1t was doubtful II
the short account represented any
thing more than limited professional
contracts After the first demonstfa-
ton of rising vigor, quoted values re-
NAMED firm, but trading fell away,
and in the last hour prices proceeded
ia react almost rapidly as they rallied
in the morning The fresh downward
movement was inaugurated by late
Washington advices, which seemed 10
qualify materially if they did not con-
tradlct the tenor of the forenoon us
patchers. In the end the market closed
about midway between the 10" anu
high prices Of the day, and at gen.
eral average of gain, bat its tone was
unsettled and Wall Street sentiment
was much confused.
1t had been demonstrated tha&
stocks were very much under the IN
fuence of considerations connected
with the railroad situation. 1t was
also shown that forward impulses
were easily revived on any indications
conducive to hopeful expectations re
gardtng the outcome of railroad cf-
forts 10 increase their charges In ORDER
To cope with increasing ratios OF FN-
penses.
There was a fair amount Of news Of
marketwiSe bearing in clrcui ailon-
Foreign dispatches told Of some heaVl-
ness in securities at London, as re-
sult of the hardening of money in
response TO the increasing strain eli
new security issues, and in redecuon
of the demand for gold. which is con-
verging in London, and Is making IT.
self felt at the Bank of England.
It was announced that the Console
dated Gas company had made arrange
n1ents to extend through bank loans
the $4,000. 600 of temporary notes
approaching maturity, IL was also
reported that heavy oversubscription
had been received for participation in
the underwriting of the offering OF the
American Telephone buildings OF West
ern Union shares. New Haven affairs
engaged notice through the immediate
difficulties surrounding the Boston and
Maine.
The proposition for an inquiry into
the Rock Island system by the inter-
state commerce commission seemed
wholly aside from the question OF the
desirability OF sonre investigation to
he absurd, in view of the commission s
present burdens.
Weekly reviews of the iron and
steel trade were in the main of cheer
f,i tenor It was recognized that
more or less irregularity characterized
current business, but there was agree
ment that February had sustained i'm
provement at an increase over the
January rate. and the situation was
considered eminently satisfactory. in
view of the lack Of railroad buying.