The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-01-17
MORGAN ( COMPANY
JOHN BULLS AGENTS
INTERESTING WEEK END pEvEL-
OpNENTs IN WALL STREET
ALL ENCOURAGING.
BIG EXPORT BALANCE.
GOLD IMPORTS FROM CHINA ONE
OF THE NOVELTIES on THE
PRESENT UNIQUE SEFtA-
TToN IN MONEY.

New York. Jan. I6--Not much was
i expected of she stock market today,
\ bat the session was far from staEnant
\ and, although the movement OF prices
4 was irregular the list los, none Of its
tone Of stre agIh. Advancing tenden-
c1eS continued e. Ice displayed under
Industrial leadership The most I'M
porfant piece - financial news was
the announcement Of the appointment
OF j. r. Morgan 4 Co 70 he the COM
merc.al representative Of the British
4 government here. /; seemed to he an
dicated that -sais arrangement was
certainly not Gisassoctated with the
agreement reached between American
:. and British bankers 20 regulate The
inflow Of gold fer which the establish
ment of British credits here will be
highly Useful
The bank statement asloweh an in
crease of over $4,000 zoe In surplus
reserve with only q moderate loan
expansion.
Street Gives Good Account of self.
Wall Street gave a rather good az
count of itself n the stock market
all through the week. and tho closing
session In M way altered Inc lmpiica-
zion Of previous days.
Investment purchases haNo been
made among what are called standard
Shares. bur speculation ard some In
vestment has been going on to issues
outside the International list ana
especially in e1e Industrial quarter
Al all times she demand Tor bonds or
good grade hAs been strong and IN
sestment dealers have been qu}ck to
werk for larger distribution later
ON.
Trade balance Bounds Up.
The cheapness of money has heeh
d cumulative factor in the securities
market and has emphasized the rea~
sons for optimism which are furnish
ed BY the advantageous economic
position In whst'1 the country is be-
ing placed by the European war our
foreign trade Is making an export bal
ance ar the rate 81 double any balance
which ever accrued In any wear in the
past and as result the foreign eA-
change market has worked into a stu
alton which solves the problem Of any
proha bile foreign liquidation OF Our
securities in the near future, ne
domestic money market WhitH mas
been quoted this week at the lowest
rate since the outbreak Of the war
helps To save a problem of corporate
financing when taken In connection
with the increasing strength Of the IN
yestment demand
An interesting overnight develop
nenf OF which Wall Street took
prompt notice today bore en- some or
the foreign exchange features Of the
week. The novelty Of gold imports
from China reported a few days ago
she disclosure Of gold shspn ents from
Japan to shiy country. and London
reports Of arrangements for more
small exports 10 New York all en-
phasaxed the control which otlr bank
ers are acquiring over the foreign eX-
changes Al the anne time the news
that an agree ment mad been effected
between New York and London, whlGn
viii prevent any international gold
movements in unres stnahlc amounts
points To the direction In when ca
change operations will tend
This Is the direction Indicated pN
the arrangement to furnish Russia
sith ! credit Of s26 600. geo now and
more later on.
Bank cleaflngs are showing efhsH'i
decreases In comparison with year
ago than was tsne case only Few
weeks since THIS IS probably more
the consequence Of greater financial
activity than Of general business I'M
p.ovemenl. bat there are signs Of bet
ter conditions i'm trade and industry