The Richmond Virginian. (Richmond, Va.) 1910-1920, 1917-01-07
STATEMENTS
SHOW UP STRONG
T&nr Cf High Money Permanently
" Rcmovcd. as There Is Plenty OF
s Real Coin in Sight.
MORE GOLD TO COME IN
k;3h1pnent of $4,000, 900 win Arrive
Y From Canada in Few Day@-kais-
crss War Message Acts as strong
r Tonic. on War Brides and Wheat
BY RROADAN WALL.

sgz New York. Jan 6.--BeCause OF the
January interest and DIVIDEND pay
ments, the bank statement OF To-Day
threw no light on the speculative STU
alton in Wall Street. 1t was spleh-
aid statement, showing important IN
ereases in reserves, loans ana us
,osits The total reserve is now with
~ about s5.0OO.000 OF what 1t was
8 year ago. and the bank situation
ID strong enough to do anything wan
Street may decide to do, whether To-
wnrd higher or lower levels.
The fear of high money ia perna-
noutiy removed.
The actual statement showed an
increase in reserves OF s2S, 1870,
d loans of s5.32S.oo0 and in net de-
nand deposits of s37.456,ooo. The
ssveraxe statement showed an increase
reserves of s2s.326.oso, in loans
Il $Io.l14.000, and in net demand
leposits of $4,000, 000. The loan
lam suggests that there has been
GOOD deal OF liquidation the past fe"
lays.
More Gold Coming In
Further ease in money is suggested
Nv the plans for importing an un-
usually large amount of geld within
9he next few DAYS, II is understood
that the first consignment will be at
least s25 o00,o0o
Unusual preparations are making
TO receive the shipment which VIII pc
largely in American coin and Will
come by way of Canada.
Money channels throughout tho
world arc being made as mobile "a
possible In preparation for the new
British loan. which is expected about
the middle of the month This loan
lis expected to break all records in
size.
Throughout the day the market was
strong In Wall Street, except IN the
rails, which were heavy. Especial
strength was seen in the speculative
Issues particularly those that have
heen attacked recently. United states
Steel was the leader with an advance
81 more than two points Similar
4 advances were seen IN Smelters,
Mexican Petroleum. Central Leather
and Industrial Alcohol.
what put the market up more than
anything else was the Kaiser's proc
lamation that he would enforce with
HIS army the peace rejected by the
allies Immediately after that proc
lamation was issued wheat advanced
more than cents a hushei. and
shorts. who had sold stock on the
theory that peace was Mt hand, be-
gan covering.
This upward movement was also
Facilitated by the announcement IN
sWashington that the President Is not
writing any more peace notes. The
short interest is too large for safety.
IND the moro important operators
would like TO see IL reduced and also
lee prices In q territory that Will look
attractive 10 investors for ljquidation-
therefore, technical reasons exist for
Expecting a sharp rally in the market.
III Same or Bears.
IS Careful Investigation today. how
aver, disclosed the fact that the sa me
Operators who turned bearish when
The government issued its warning to
hanks against taking short-tcrm notes
from the allies are bearish again and
Aill take advantage OF any rally in
4he market TO attack II again.
VI The investigation by Congress is
not regarded as serious mark ct
argument because II was not so much
the leak of the Presidents peace note
that broke the market on December
81 as Il was the statement of Lansing
that this country was on the verge
of going to war The condition in the
market that made Lansing's state
ment SO damaging was brought about
by selling in connection with the Fed
erai Reserve Board warning. If Con-
Eress should investigate the posi-
bfi4ty that warming having been
given 10 q few banks in advance OF
the general public, II might strike a
profitable lead.
To some extent the Investigation
wilt be a bufiish argument on stocks
because any unwarranted activity on
the part of the professionals is likely
20 attract attention at Washington
and invite investigation.