The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-12-19
market WEAK BUT
NOT MATERIALLY LOWER
Traders Sore Over Treatment Alleged
to Have Been Accorded Small
Men by Bankers.
THEY TRY TO EXPLAIN
Street Hears Rumor That Lloyd
Georges speech Today VIII Be Con-
ciliatory, But Little stock Is Taken
by Wcil-lnformed.
Nv BKOADAN WALL.

New York. Dec. lS.--Thc stock mar
let closed weak today, but not mate
rally lower in many issues, because
throughout the day there were seVeral
little rallies The opening was strong,
but almost Immediately proht- taxing
made its appearance. In the hrst de-
cline of the dag Industrial Alcohol and
she Motors were conspicuous. Under
the leadership Of steel. the list was
rallied. broke again under pressure
Of tine Motors, with Maxwell IN lead
ership, rallied again with the oils ana
harvester stocks at the head OF the
,ist. ana then. in the last hour OF
Grading. all stocks partici pated In the
decline.
Market irregularity today was due
almost entirely TO feehnS among
Graders that they had not received a
eouare deal from the banking inter
.~ts The hank statement Of Saturday
was discornforting. There was little
comfort in the announcements that
Attacks were IN stronger hands. That
went without saying. and that is eN-
e~tiv what the Street is sore about,
THE Street feels hey went into stronger
hands without giving the traders even
n sporting chance. The lndlVlduai
traders were not overextended. IL
vas the vast number Of traders from
ali u..ts of the world coming to this.
the only free stock market In the
world that had oyerw helmed the
brokerage machinery. Nobody but the
hanks could know that the condition
was as rad as it was. and they knew
II was bad long before any attempt
vas made 10 check II.
Whether any bankers took the pre-
caution TO sell stocks before taking
measures TO correct the situation can
only be proved by government fnves-
tigation.
street Not In His Confidence.
In the afternoon a rather comical
attempt was made to explain the sell
ing with a report that L3oyd-GeorRe
in his speech tomorrow Will adopt a
conciliatory tone toward Germany.
Nerv few serious people believe that
IloyS, tNorge has taken any STOCK
market operators into hts confidence.
Few believe that even the prime min
lister knows exactly what he himself
In going te say on the momentoNs oc~
casion when he answers the Kaiser
before the Commons,
What may have had depressing
influence what should have had at
any rate--Was the government report
ON winter wheat. This shows a CON
siition OF S5.7 per cent. as compared
with So per cent a year ago and so.2
3 per cent for the ten-year average
The acreage. however. is nearly per
cent better than last year, Wheat ad-
yanced about cents a bushel on this
statement Cotton was heavy.
Banks Try to Explain.
Banks attempted today to explain
the remarkable statement of Saturday
in which the loans increased in tht
face Of drastic liquidation by sayine
< that the big loans that were reduced
4 were outstanding for the account o
Western banks and did not show II
the New York statement.
Ii was noted that the market actet
very much as a peace market woult
act. according to the forecast gfveI
in this column. OIL and electrics wer'
strong as were the rails and Harveste
shares Motors also acted very nuci
in accordance with what careful In
vestigation would expect them to dc
Tire stocks were heavy. in sympath,
with Motors.