The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-10-07

emanating from Washington only the
night before TO the effect that no
peace proposals were in cantem1la-
ton by this government Also -"
q Significance became attached TO TIE
recent utterancss Of Lloyd George,
y the British war minister, i'm which he
sounded what In the circumstances
seemed like timely note OF warning
ANY attempt on the part Of neutrals
to bring ahout mediation at this par
ticular juncture tho war minister
said. would be viewed as "deliher-
ntely unfriendly'
His statement came at a time when
peace runors were no longer in cir
culatton and when surh a remark
seemed irrelevant But it was al
/ legged today II made w!th fore
knowledge ef Gerard - Fet-nrtnd
mission. Lloyd Georges statement
would have been more than relevant.
! Inquiry among the international
banking firms IA led to di4closc any
further knowledge Of Mr. ticr1rIs
mission. bnt many IN N" offf~S "\-
pressed the hone that the report given
out for publication was based upoa
authoritative information ---
No Ri.~ In German ESchnnEe.
Some local bankers were at loss
to account for the reasons for giving
out the statement. They suggested
that sharp rise in German exchange
might reflect the foundation for the
peace statement But the rate Tor
marks was practically unchanged At
sa.sis 1~ents for four marks TO be re
sSmttted by cable as compared with
10 ia cents on the preceding day.
One banker In particular became en-
thusiastic over the statement
He said undoubtedly Lloyd-George'
statement was inspired by knowl-
edge of the intention OF Germany TO
move for peace.
In one quarter it was stated that
there were man. reasons for crediting
the nnancier's statement regarding
the Gerard mission. Also 1t was stated
that there was not much mystery as
to the reason for giving publicity at
this time to the knowledge that had
come into the fnancier's hands The
argument was advanced that Presi-
dent Wilson would have been able TO
make much political capital out of
definite move for peace II an an
nouncement of such a move preceded
the election by only "a few days. BY
anticipating any official statement
from Washington. the hnaneier was
held to have discounted the Presidents
advantage. Wall street generally ia
yors Hughes.
Insinuations that the statement had
been made TO influence the stock mar
ket were scofYed at The prominence
Of the financier who gave out the
statement and his known prodity,
were held TO be sufficient arguments
against such a charge
A few minutes after the statement
had been given out the name OF the
newspaper informant was Whispered
from one Wall street ONCE to another
until finally It found its way TO the
foor of the Stock Exchange. So many
peace rumors had been circulated that
Wall Street had become calloused TO
them, but this association OF this fnan-
cfer's name coupled with his definite
statement that he had authoritative
knowledge of the truth OF what ne
said caused an almost immediate re-
Spouse on the floor OF the exchange
War Brides Tumble.
Spectators began offering stocks In
liberal volume. Prices receded very
quickly
Early In the stock market session
the general market showed strong
undertone and prices showed net
gains But these advances were
wiped out and replaced with losses
averaging ABOUT Nv" P"iHtn /" A''
most active issues. The selling move
ment continued until after the close
!. OF trading, when prices were at their
lowest.
A majority Of the brokers asked to
give an expression Of their opinion
as to the statement regarding tho Ge-
rard mission while declining 10 permit
the use OF their names, said "un-
dcuhtedly il ia an effort to raid the
market"