The Richmond Virginian. (Richmond, Va.) 1910-1920, 1917-02-18
STREET SAYS war IS
fORteOaf CONCLUSION
Aud Forthwith Begins to Build Air
Castles On the Money IL VIII
Make on OF It.
INTERNATIONAL PIPE DREAM.
stock Gamblers, With Usual Lack OF
Grasp. Believe United States WIN
Join With Allies In Big Loan 10 u"
Financed In This Country.
NJ pVOaDAN WALL.

New York. Feb. .11.-The actaai
,ank statement showed an increase
oday OF si.256.47o in surplus re
ei.vos. an increase of s34, T2s,Vuo IN
oaas and an increase of S4o. IVs'eo'
. ne; demand deposits The aver
,se statement showed surplus re-
Tb,sd SI.1OS. ZOO. loans reduced $50
49, 400 and net demand deposits re-
iuced S3o.s44,eo0.
This statement had no effect on the
-T-----y -r--t r,t-sttse brokers have
airead, adjusted themselves 10 new
money conditions and the trading IL
- small that the current call rate Is
rot ot vita Importance.
stocks closed strong and in some
departments almost bGoyan', be-
eavSe the financial world has finally
.rer1e 20 the belief that war with Ger
nany viii he declared within Few
says
= Yer, Large Pipe Dream
What makes for strength In the
sock market Is the BELIEF that the
t-atcd states will immediately issue
= very large loan, TO be Jointly guar
antced by itself with all the allies.
fhts none 10 he expended in the
Omitted states for war supplies AZ
-thr same tine the American navy is
SIDE o. he Atlantic and convoy mer-
-hagt vessels carrying supplies 70 the
lies According 10 this program Inc
4f{es u#I1 he able 10 withdraw their
v4-sh;p. and concentrate them IN
European waters. This program dld
not some to wall street under pre-
tenee OK being 'esk. bbt Vas dls-
@assed openly rs the most log;ca'
thtnx u do. There - no of1ciai as
s8sarce that Il will be done. but
m siitary' men and some bankers seem
"a to feel that actual Developments
q old he along that hne Another
f4rtor that strengthened the marKet
7-zs the announcement that Prestdent
wilson ia strongly in favor o. UNI
1rtkai military service All Wall
-srce: Is IN favor Of that as ina
1e ONLY eouita BILE kind %! service
IruLs like War Il Desired.
f'aultos tlon Of the agreemer; tha'
Germany sought 10 have Ambassador
Gerard sign before starting for home
ses~ another bulllsh influence, be
.;se Wall street interpreted i as
evidence OF Cermany.s desire for war
With this country The thing in the
agreement that offended Wall street
.v-as the mutual consent for citizens
of either country to pass freely back
an forth IN The event Of actual war.
t4geif safet. being guaranteed by the
oua9rN. letting them depart. wall
rect looked upon this as an attempt
10 get safe conduct home for Inc
many thousands OF German reservists.
Wal! street smiled a. this proposition
ri fret and then became very angy.
looking. upon II s. reflection on
s.nefitAn intelligence.
On War Basis,
50. putting everything together, The
street settled down TO war basis
early IN the session and began buy
ing stocks, especially Steel shares and
fhe CopperS Marines were also in
demand 81 We're tho Petroleum shares
and tine Motors Flotation of huge
loan in this country would be enough
70 drive ali the bears out of the mar
Eet There are not many bears any
how. the short interest having been
covered To great advantage in recent
breaks. one plunglng operator Is re-
ported to have switched in the last
day or two 10 the constructive side
Of the market. Tho end OF the leak
inquiry was another sustaining factor,
particularly as j, ended Just as Wall
street had said it would.
Lead and Copper sold at high rec
orc prices Tor lne metal lot RECENT
wear. \ sa, r lead was made at
10 ia ee-t{s per pound.
pc,rishness on Steel was due to eX-
va--ation OF large war orders
opper WAS moved by the same ex
beltatinn The Marines were taken
..srause Of feeling of safety due 10
81 y OF the American navy into the
.vA-
Motor stocks Taken In Hand,
Motor stocks were taken in hand
because the United States needs
thousands OF cars. most Of the horses
having gone 10 Europe already Be
sides the motor shares have been wei.
liquidated. particularly the specula
t4ve ones such as Maxwell Stude-
baker and WHY'S Overland.
Farmers are spending their money
freely SO the American Agriculture
Chemical company reports. That com
pany has Withdrawn Its statesmen
from the road after campaign @
only six weeks, the entire product fol
the year having been disposed of
Such free buying o. fertilizers mean
that the farmers are going TO rails
every husheI of product possible thi
yeaf
Miscellaneous Markets.
New York. Feb. Mooney on cal
this week ranged between > IL an
. Der cent Time money was on tn