The Richmond Virginian. (Richmond, Va.) 1910-1920, 1917-01-12
Nil STREET AGAIN
GETS GRIP ON SELF
Now Fnlly Convinced That It, SpeCu-
lAtions Are Not to Bc Rrokcn
Into by Early Peace.
MOTORS ARE VERY MUCH OFF
G1ock Buyers Believe insiders Moro
Us Interested In Selling Shares 1han
CArS-High Earnings Not Pleasing
s to Car Buyers.
Nv RRoNDAN WALL.

AA New York. Jan. l1--Wall street
accepted Lloyd-GeorEe's speech as 3
forecast OF the note 10 Prosideni
B Wilson and bought stocks accordlngly
this afternoon. The result was
complete recovery IA most issues
from the collapse of the morning, To-
Kkether with some net gains. Steel
\ led both in the mornings decline and
IA the afternoons recovery Flna
prices were in most stocks under the
\ highest figures. but AS dealings Were
almost entirely professional. this was
not significant.
What also helped the advance was
~ report that a new loan for the al
Hes or for the British government
would be placed In New York within
three weeks Nothing official was an
nounced in this connection. but the
report was traced to official quar-
ters. The loan IS to be backed with
collateral largely American
Since all stocks moved toEet Ter
IN the recovery. that phase OF the
market needs no explanation 1t
was a decline in the early part Of the
session that interested the street
Motors in Decline.
Motors figured largely IN that de-
cline General Motors was weakest.
The new stock showed decline Of
rs points in a week. Al is low prize
OF today Of 10l it figures ae5 for the
\ old stock. which recently sold al $50.
The company Is reported 10 he max
Ing more money than when II sold al
the high price. From the low price
of today there was recovery Of
seven points.
Chevrolet. although on the curb, at
tfacted much attention on the cX-
change by selling down to par Il
recently sold as high as 29o. VII
lys-Overland, Studebaker and Max
well were firm. Wall Street dislike
of the motors is based on its belief
that the insiders are trying harder
to sell stock in their companies than
cars The Street feels the boast al
big earnings are not calculated Il
make the public want to buy cars.
Indicates Damaging Competition,
v United States Steel and munitions
werS sold freely on the belief that
Secretary Daniels would accept the
bid of Hadfeld. OF Sheffield, England
for sixteen-iuch SHELLS for the navy
The fact that this company can un-
derbid American concerns under any
circumstances led to the belief that
there is to be damaging competition
In steel at the end of the war. Ii
was further felt that unless the war
q near an end this com pany cannot
take such a contract. for there is no
restriction in the bid regarding
peace.
Marines went lower on reports Of
U-boats scouting off the American
coast. These reports were current
at the same time that the Street was
worrying over the probable end oil
s4he war being forecastcd in the re-
ply of the allies to President Wilson
There are a good many people IN
Wall Street who believe that Ger
many Will not let the C-boats be-
come offensive on this side of the At
lantic because the good Offices Of the
american government are desired III
the interest of peace.
s Action of the wheat market clearly
4orecasted a continuation of the war.
3 II closed with material advances
Weakness OF the cotton market also
disclosed a belief in war