The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-11-12
Progressive VEST
WAKES Up WALL Street
BUYERS WITH LOTS OF COIN
Fcre1gners, Too, Appear to Be In
Market with Great Deal Of Cash
and Unnmited Amount Of Faith In
tho business Future.
BY BRoADAN WALL.

New York, Nov. lin the bank
btatement today full DISCLOSURE. was
made Of the public opinion Of poll
tics a. bearing in the stock market.
In the average statement loans were
Increased $55,277.0oo, demand de-
posts increased sss.lso.00o, and eur
plus reserves decreased $2.688.s3o. In
the actual statement Of business at
the close Friday night tho loans show
ed an increase Of $S7.776.000. demand
deposits an increase OF $87.667,0 900,
and surplus reserves . decrease OF
e26,3ss,7so.
This is one Of tho most remarkable
bank statements Of the year. It 10
cheering or otherwise, according to
the point Of view. What 1t doe. say
beyond question II that there has been
heavy buying Of stocks since tho cleo
don. II IL wen known that the
principal buying has been for the
West and for foreign operators who
are making Wall Street their base Of
operation because 1t - the only free
market for securities In the world.
They are not afraid Of Wilson; they
are very strong or they could not have
bought 40 much.
In the election the conservative
East was whipped by the West. 1t
looks very much as II the conserva-
into the hands Of progressive In
vestors. who proposed 20 run things to
suit themselves for . while Every
body In tho East has beam oaying that
no matter who was elected the market
would 60 very much higher. But tho
East being . slave to tradition ana
technique, wanted q reaction-wAnted
% shake out the little fellowA Now
Il appears there are no little fellows
20 shAke out
Unless there In q U-boat surprise or
acter before Monday morning the East
will probably take its stock market
from the West Just as It has been
compelled to take its President from
the same quarter. Copper metal con-
tfnued one OF the important features
of tho financial world te,6Ay- II 70 ak
pected that Copper will sell ut 81
cents pound within . short TINA
Copper DcvclopsncnCs.
Anaconda and Utah, Inspirsk1ou.
Kenneeoti. Ray Consolidated, Chino.
Chile and the whole tribe win follow
the high prices. When Anaconda gets
poets to see something really interest
ments.
Sieels were In good demand under
cover taday. Republic Steel was shout
the best bought In expectation Of ac-
ton in the near future that viii bring
the common within hAtiing distance
OF dividend. The company Is earn
ing about 10 per cent on its common
stock.
There were never so many pools in
the market as just now. They never
had so much money at their COM
mand. Stocks never had such earn
ings Never in the history Of America
was money so plentiful with the as
suranoe that II would continue plenti-
full. The progresstves have control Of
the government and OF business and
they arc going to see what they can
do with It Wall Street may rest as
sured that 1t will have to blow it,
horn hard and step lively to keep
up with the booming business and the
constantly growing volume Of money
and credit. 1t is not polite to speak
OF imitation. and really II 10 not fair
to speak OF II that way any more
than II In fair to speak OF the new
Federal Reserve Bank notes - clear
ing house certificates, which they
really are and which they very prop
erly are.