The Richmond Virginian. (Richmond, Va.) 1910-1920, 1917-01-09
llL STREET LOSES
ITS FEAR Of PEACE
Zlnpp1nG of Doves Wings Wouldn't
Ees Even Ecazc Spectators
Now.
o. s. MONEY FOR ENTENTE.
New British War Loan VIII Bring
Out Large Amount of American
Dollars, IL Is Rclicvc,i--Money
Plentiful.
BY BROADAN WALL

New York. Jan S.--The highest
L range of quotations desired by pro
60ssionai traders were secured in Wall
Street today. Steel was the leader. as
usual. but several other issues were
prominent IN the movement
Technical reasons FOR the advance
were found in the improved bank
position, in the expectation Of very
large gold imports in thc near flu
Sure and IN tho constantly vanishing
peace prospects SO rapidly is the
street losing It's fear of peace that
announcement Of President wilson's
intention to make another attemp: to
mediate passed without any effect on
ueccks
The invest igation OF the recent leak
W1s another Quiettng Influence. II
wAs shown that 50 many persons had
hnowiedge OF the Presidents note be-
fore II was made public that Il would
BE impossible TO convict any one per
ron Of eetraying the government to
Wall Street
Stocks were strong at the opening.
Almost INN e<iiately a selling move
snant began that carried them down
two and three points Ia the active Is
: Euee before there was any check.
steel WITS the leader In this decline
- It had bean IN thu advance Bald
win and General Motors were also
weak Then Steel rallied ana for
most OF the day was futl Others
followed suit Just before tie close
4 strength developed in nearly all quar-
tere OF the market and inal figures
showed notable gains.
some spec.alties failed to recover
xhAar losses. notably General Motors
and General Chemical The former
noe9ned to suffer because OF !naugura-
ton Of dividends on the new common
These were begun at the rate Of
per cent, The stock. which closed or
Saturday al 14o. declined to i2s "a
II recovered 10 1872 at the close The
loss IN General Chemical was forty
one points Baldwin. Gulf States
Steel. Nickel Plate, Bag and Paper
new were other stocks showing ma
tertal losses at the close.
Crucihle Steel was one OF the hes
bought stocks IN the Street
To Get American Money.
Wheat and cotton are both stront
and the theory that the war Will 70 OF
found support Bankers expect
large part OF the new loan to b.
! brought out 10 come to America
Money In SO plentiful here that the
are lending millions In London OF
ordinary collateral through private
banks. and they would be glad to &C
1 commodate the government. Their
81 no question OF the safety of tn
forth coming loan. II is expected tina
AZ a preparation for this loan, th'
4 New York stock market will be nurset
along and be made TO look stronG
enough TO tempt tho public TO talk
enxhese new bonds
Another feature Of the situation
makes for temporary strength a
least. Some OF the most active oper
ators and pools hquidated on TIT
peace announcement desiring to hav,
their money free to take advantage
OF bargains, The peace they look fol
apparently not being at hand they
are beginning 10 employ this money
on the long side OF the market, sayins
70 themselves that such use OF Il Il
only temporary. They do this on tins
theory that the public may come II
again after an advance OF five or ter
points and they look upon declaration
y ~ the Steel Corporation OF an extr1
dividend as critical period for tn.
present uplift movement.