The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-12-30
all PRESSURE TAKEN
OFF Of STOCK MARKET
y
Careful Insiders Are Picking Up Bar
gains Wherever Possible Ia Dope
BroatIan Wall Has.
STOCKS on PEACE BAsIs
Whether Europe Fights or Decides
Not To. IL Is Held That American
inr
BY BROADAN WALL.

New York Dec 29.--The last day
of the most memorable year in stock
exchange history closed without ex-
citement but It bore a significance
which Will cast a strong influence
on the initial trading in the new
year.
Every y!staEe OF artificial pressu re
disappeared during the day, leaving
the bear lone creature, II was not
q day for running Up stocks. but
if there had been any pressure what
ever the market would have alb
sorbed the selling steadily. Eager
and careful buyers waited at every
fractional point to pick up cheap
stocks
Signs are plentiful that the market
IS on peace basis. except possibly
in the case OF few spectalties which
are yet selling too high. II we are
20 have peace. there will be a general
boom In business. and the stock mar
ket must reflect our prosperity. If
we are 10 have another year Of war.
then the whole history OF 1915 will
be repeated in 1917 Whether war
or peace, the market must expand
and stocks must reach their proper
levels
Hear More Mexican Rumors.
Word reached the financial district
Through an Indirect channel that
Felix Diaz was marching on Mexico
City and that the Carranza govern
ment was tottering. Some doubt was
expressed as 70 the strength OF the
Diaz army. but confirmation OF Car
ranza's weakness was not lacking In
certain quarters
At the So me time one firm OF bank
Rrs said that Il had information that
h14 g-t rs sfe
ing the protocol drawn up in Allan
tic City. but that he was sparrtng
for time in order to get big loan
Through a powerful Wall Street syn
dicate This Information came hv
way % Chicago and added that Car
rama had two representatives. in New
York city with fail power 20 sign
the protocol
Texas OIL. which has lands IN Mex
leo, selling ex-rights advanced to a
new high record of 2S7 Ia Mexican
Petroleum responded quickly to the
news Of prospective change %
regime In Mexico. II is the general
opinion that Mexican Petroleum
higher II the Mexican situation were
Strengthened out
Wabash PAYS Dividends.
The Wabash directors declared an
initial quarterly dividend Of per
rent on the preferred "A" stock thus
fulfilling predictions As per
cent stock, Wabash "A" IS not selling
too high, Wabash preferred "B" will
now he watched because Of its CON
vertihle features The rails on the
whole. while exhibiting no strength
did not show alarm over the uncer-
.ainties attending the execution OF the
Adamson law. The belief persists in
Wall Street that the Adamson law
will he repealed in favor OF a clearer
law. and that there VIII he 10 railroad
strike. The railroads may he asked
to deposit In a bank a sum OF money
as guarantee that the new wage
rates will he paid while new law
IS being enacted
There is no escaping the effect ~
the Adamson law or similar meas
nre, The railroads are reconCiled &c
that. but they also want to impress
on the hrotherhoods that thcv have
an organization witch can fight for
rights The investors in railroad
-tocks think better Of the railroad
managers now than they have for ter
years. They know they have good
guardians for their securities. This
state of affairs viii help the upward
movements III -" ftfHHf stocks wnen II
gets under way early next wear.
The motors. led by Studebaker
were the only distinctive weak spots
In today's market Even WHY'S Over
land. which had been artiflcially sup
ported for month. broke 10 81
The marines were we'll bought. and
Atlantic Gulf and West indies al
vaneed with the aid OF another bril-
liant monthly earning statement
showing earnings Of about $50 share
ON the common stock