The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-01-20
EXPANDED DEMAND
FEATURE ON STREET
PRICES STRONG AND TRADERS IN
STOCKS HAVE OPTIMISM IN
THEIR BONES.
BIG DAYS BUSINESS
NEW loRk BANNERS PREPARING
FoR HEAVY FOREIGN LOAN
BUSINESS BETHLEHEM
CUTS IT'S MELON.
CUTS IT'S MELON.

New York. Jan ls-DealinEs in
stocks expanded today to the largest
volume since the resumption OF open
kiadire last month. The strength If
prices was proportionate to the in
crease OF transactions and although
there MAS some slight sha ding on re
ailxinE sales toward the close the
snal scne was strong and final rg
ures acre very Little below the best
II the DAY In the frs: heur alone
the trading aggregated l4o Geo shares
cg more than an average of a fun
days business since the Tenpenins Of
the Stock Exchange The pace Of
activity slackened thereafter. but
tranSa c;ions up 20 ! o'clock made a
iarver total than in any previous ses-
sion.
This summary is enough To indicate
the character Of the change which
has been coming over Wall street
N response 10 the various Influences
which have been working for rccov-
erv Of investment and speculative
confidence. and have been reflected
an the improving trend of quoted
values. Throughout the day the
share lis; moved under the leader
ship Of standard issues. conspicuous
among which was United States Steel.
Although this stock has advanced in
a ponderous fashion. the fact that II
could go up and that 1t has been dis
playing underlying hrmness could
hardly fa. to affect the rest of the
market especially such stocks Ike
Reading. Lehigh Valley. Baltimore
and Ohio. St Paul and Amalga ma d
Copper displayed aggressive strength
Sons of the recent Industrial favor
ties in the speciality class were OBJ
viously for sale, but the market az a
whole displayed a rather Impressive
absorptive capacity.
No Apprehension of Foreign Pressure.
The direction OF purchases iowa rd
the standard shares. most Of which
are In the so-called international list.
evinced decreased apprehension of
foreign liquidation In quantity or an
Increased conviction that such liqui-
dalton would not overtax the mar
ket's strength. For various reasons
including the swelling out of the deal
ings into a new area Of volumes and
the extent To which price recovery
has been carried. traders were in the
afternoon inclined TO anticipate at
least moderate reaction, but all the
aspects Of the market testified tc
the attraction OF growing outside
following and interest
Trading In bonds also attained q
new high total and the bond depart
ment was quite as strong as the share
list.
Foreign Loan Business Heavy.
Domestic money rates were soft II
all directions Foreign exchange cas-
ed off. and even though our banker;
engage increasingly In the negotiation
of loans for foreign borrowers II II
doubtful II the decline in the inter
national exchanges has been more
than momentarily halted Judgira
from the British Treasury prohibi-
tions against capital promotions ir
London for the benefit OF borrowers
outside the British empire. our bank
ers are going TO have a great deal 81
foreign loan business thrown in their
way In the near future,
Application for receiver for thu
NJ Runley Company ppt an end 10 =
situation which has ths6sp one OF the
lesser Affections Of fRance for some
lime The declaration OF the fun
ner cent dividend ~ TIC Bethlehem
rteel preferred shaTes Yxas graft
Tying confederation, 81 Sthe definite
reports about the.5coprany's earn.
ings which Wall Street has beer
hearing IN recent weeks.