The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-08-22
ARABIC DEVELOPMENTS
| 0vERsnAD0W|Ne FORCE
General Break In sfr-ket Due TO In.
creased Tension Over SIT
uasfon.
STEEL COMMON is TARGET
Market Opens Quiet. With Absence
Of signs of Panic--Hopes Disap-
pointed In Late News of sinking.

New York, Aug 2l.--There was a
general break in prices under heavy
Z liquidation due IN the main TO an In
crease Of tension over the situation
created by the sinking of the Arabic.
The stock market opened quiet and
for a time held well enough. But soon
the selling movement was resumed,
SseeI Common being the principal tar
get al rTst
tne movement gained in breadth
ana intensity as the session wore on,
sna al the close severe declines were
RECORDED throughout the list But II
the market was Disappointing in that
IL opposed less resistance to the pres
sure than it did on Thursday, II was
stu an orderly affair with an entire
absence OF panic Buying OF a SUP
SANTA! character took place or the
fail
Reasons for the increased weakness
OF the market was easily supposed.
for one thing, developments in the
Arabic situation we're such as TO dis
appoint hopes that eXtenuatlng cir
cumstances might be discovered that
would put the incident in different
light. The tone of the comment made
BY the press of the country and such
intimations as were received of the
Washington attitude were calculated
20 emphasize the gravity OF the situa-
tion. 1t is likely that, 10 some ex-
tent the first resistance OF prices 10
the had news was due to the great
impetus OF the upward movement.
broad buying movement OF the KIND
that has been underway does not Cease
iaolnentarlsy and the likelihood of a
market making a sudden vote face Is
decreased in proportion to it's size
Moreover, the effect upon the SpeCula-
tive position Of shock Of this kind
a. cumulative II is felt in stock ex-
craaEe circles long before 1t comes
isseIs to the country at .arge. Also
Saturday market when important out
see developments are Impending
gsoally witnesses d general closing
OFT Of a speculative commitments OF
se upportunisi sort In the present
nervous state OF sentiment. the disn-
'C.lEsfIon to hold stocks over Sunday
WIS naturally pronounced. Reports
81 defeat of the Russian meet a RIGA
We "A minor event that probably
pa ed part,
The development in the Arabic case
may be xpected to be the overshadow
inC Influence IN The markets for some
t.1.le 10 come. Tine uncertainties over
IRIS matter naturally render tudg-
lueNts Of The proha bic course OF the
raa ket precarious. \ nervous mar
ket will conssnf.e until things are
settled one aE or the other, On
the other hand. the market already
seems Is have gone some distance to-
ward discouniing a break in diplo-
matte relations between this country
and Germany. In point of time at
least the reaction has been a stiff one.
Weak holdings have been pretty
thoroughly shaken out and the mar
ket is probably ia position where
sharp recoYeries may occur at any
time.
The trade reports Of the week were
again extremely satisfactory. They
speak of a gradual expansion OF the
revival Of activity with a promise OF
progressive Improvement, Our export
trade shows no signs OF slackentnR In
spite Of the difficulties raised by the
foreign exchange situation. New lines
Of business and new corporations are
daily being helped ny this broad de-
msnd FOR war supplies. and the in
direct effects of this business are TO
he found even in the traffic returns
of the railt Dads The weather. while
IL has not been entirely favorable for
certain lines of trade, has in the main
helped the crops and grain prices to-
ward the end OF the week declined
rather hriskly.