The Richmond Virginian. (Richmond, Va.) 1910-1920, 1917-04-10
yItCk MARKET ON
AVERAGE IS STEADY
Market Leaders, However. cav
Securities situation something
of Weak Character.
SEEN TREND or PRICES.
Five Billion Doliard Bond Issue Means
Imitation OF Currency ~ Bonds Are
As Good A. Gold Certificates or
Grecnbacks.
RY RROADAN WAL.

New York April a.-Thr sock
market looked weak today II one con-
sifered only the leaders. bet taking
the whole list into constellation =
was remarkably steady. In ft"
stocks there were sharp declines. bat
the ret loss Of the marset as a whole
was unimportaH'. Grain. which
caused most of the trouble On Sat'ir-
day. was active again. bat after max
ing new high records BE- collapsed
Cotton, which vas not traded in oE
Saturday, was spectacular perform
or today. the july option udTanciHS
$3.50 a bale and declining - a bale
from that price in hait an h9Dr
trading The break IN May wheat
was ! &c a hushei a, is extreme.
II is becoming fashionable 10 20
short OF Steel and Gtah Copper and
few OF the munitions. Professional
traders are avoiding these stocks he
cause the market in them is over
crowded with persons who are liable
70 be easily moved. Tn, selling o.
Steel on Saturday was Of THIS popular
KIND and II advanced sharply 10 tho
early trading today The stock broke
: IL points from IT'S ht&N of the
morning bat closed steady and only
tractionally under SATURDAYS close
epeciaities OF which Ohio Gtties Gas
IL a shining light. recovered from the
Saturday break and declined again.
but without large net changes
Mos, ominious OF the days move-
ments WAS the decline ia Delaware
and Hudson.
Means Currency Imitation.
The most important thing ~ the
market just now is not so much to
discover the particular stock that IS
Rofng to move as 10 set the trend Of
prices It may lie true as the hears
claim. that stocks are gong 10 he
worthless because OF the war But
money is going to he worth etiA more
less. If the expression may he permit
ted In other words, even though
stocks are worth less 1t will take more
dollars TO bay them. The govern e
ment IS planning 10 oxpeud Eve hil-
lion dollars for war material. That
will Initiate the currency five billion
dollars for government bonds are
Jus, az good currency as ereenbacks
and gold certificates Canada with
all her resources devoted TO war pur-
poses now stands before the world as
the richest country on earth per
capita The average Canadian would
no doubt be surprised to he Informed
of his wealth. for he is finding II
harder 20 live than ever before, just
as residents of the United states viii
find IL harder to live But stocks are
dealt in at dollars per share aud the
/. figures must lpevit3ply be longer or
the exchange az the war progresses
Judging from present action of the
list the period OF uncertainty and
heaviness In the market is going to ht
brief,
or course. some of these DAYS there
In going to be terrible f1nancia
awakening in the United States. Thai
II is sound asleep in some respects
is proved for instance. by nation
wide advertising in'u'ged in by the
Southern states inviting people "a in
vest money IN the South. heeaHs" tHE
cotton crop has been such failure
In recent years that ii has hroHEh
more dollars to the south Than wa
received for normal crops WITH 'h'
public In state ot mind that VII
tolerate such professional argumcntS
WaTT SrTCtr Tr7rtrrT r1rr7ff 7t--1-+-'zt- -
about being able to get tn" puhlic.'
money again.