The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-03-01
TENSION N STREET
ORIGINATES IN WAR
AnNORMALI.Y CLOSE CONNECTION
nETwEEx NEWS AND MAR
KET REFLECTION.
BOOM IN THE MAKING
ALI. CONDITIONS BEING PREPARED
WHICH Will BRING 1T on
SowE DAN--DESiRE
FOR PEACE.

New York. Feb. 2s.~-The sun
xeekly review OF the financial sit~'-
ton tomorrow viii say
An ahnormally close connection
seems TO have been established BE-
tween narketwiSe news and its mar
ket reflection. Terv seldom are Sc
rur.taes at least anything Ike rs sen
xitive 10 immediate occurrences as thef
are today Wall Street rs aecustoTn'l
TO decline on good news and on b&d
news. but tradition is now upset and
the custom % the market ts reversed,
A. II Is the war, which has hroU&ht
about the present financial and husi-
ness situation. the conclusion when
the careful observer Will be pclirGg.
to draw from market features OF The
moment is that events in tho war VIII
be most directly effective upon sol
aulcs and values
Subject to various corrective quail
scatfons the conclusion applies rot
only to securities but 10 trade and tn-
anstry as G. whole. Having regfd L"
the index. which the securities market
Invariably furnishes OF the state ar
general economic conditions, End IN
forces which are affecting them, Il is
hardly open to dispute, then that a
tension is disclosed which results
causes originating chiefly In the Eu-
ropean conflict
DRAG on E,deavor.
From tho Wall Street point Of view
all the conditions are being prepared
which will make some day for an
unprecedented boom. AS the fnan-
cial community looks upon the war,
however. 1t constituted al immediate
and heavy drag On entSwpristnS en-
desvof asG 10 k.Aseer hSS e<snE go
argurnsAt effsrs her eonhdspo% sn evan
tuni businA0 rsosvs~Y dnAeeiAi srr"-
rience has shown that II is expensive
10 be right too soon, wall street Is
persuaded that there is q period of
accumulation but one to which no
limit can be set, nor can II be pre-
dicted that the terms now presented
for accumulation will be the best
terms obtainable.
Apart fr--r those aspects OF the
war which tass mind cannot afford TO
dwell upon there are practical ques-
lions of concern which have been de-
manding and receiving an answer. APP
prehensions aroused by the accumu-
lation of diplomatic difficulties at
WASHINGTON have become less acute
because Il has been more clearly marx
tested that the desire OF the country
to preserve itself in peace viii sup
port the Administration in an ultra
pacific program. if negotiations to
procure modification of the new sea
warfare are fruitless II will still re-
main to be demonstrated that our
current export trade win suffer dis
astrously,
FOREIGN Exchanges.
The further arrangement OF <he for
eign exchanges suggests that uneasi-
ness about our foreign trade move
ment owes less to alarm over the
chances of naval interference with
commerce than to the financial stretr
which Is making II difficult for on
foreign customers to pay for theil
purchases
On this account II can be predicted
that bankers here and abroad will not
be long In agreeing upon Methods and
adapting them to finance internationa'
trading Neither viii Washing or
stand in the way OF workable contri-
vauces, even If these involve the pro.
motion or loans for belilgerent ma,
lions.