Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-05-21
now 1T WAS RECEIVED HERE.
The Decision just what Was Ex-
pccted-Whnt BusinesS-Men Say.

The Decision Just What Was EN-
pccted-Whnt Business-Men Say.
While the Supreme Courts decision in
the income-tax case occasloned but little
surprise here II caused some stir in finan-
cial circles. The first news OF the courts
action was received by the Richmond
brokers over their private wires, and II
was communicated to the public through
the medium Of the Dspatch's bulletin
board. Stocks ana grain showed an up
ward tendency. There was some disap-
pointment felt over foreign selling though
bond prices remained firm. one effect of
the decision will be TO release for divi-
dends the moneys of various corporations
that had been put aside to pay the In
come-taX. Ii is said that the American
Tobacco Company will have Sy5S,DO thus
made available. In commission and gene
raj business circles IL was not thought
that any material effect would be felt.
Internal-Revenue-Co Collector Ryan re-
ceiyed from Commissioner Miller yester-
day afternoon the telegram sent out TO
all collectors directing them to stop all
work along this line and send in their
books and lists.
Mr.. Ryan hopes his will not necessi-
tate the reduction Of his force.
THE LAW UNJUST.
Mr. John Z. Branch said he regarded
the decision as fortunate. mo one" he
said would object TO a tax on incomes
If II were made uniform and equal; but
as all incomes under $1,000 as well as
our largest incomes from real estate go
"scot-free." and only the incomes from
brain and muscle to be taxed all viii
agree as 70 the injustice of such law
The scisiOn Of the court VIII inspire
confidence both at home and abroad, and
investors will feel that although Con-
gress will from time TO time do very un-
wise and foolish things, they can stu
be protected from their Illegal acts by
our court OF last resort. This decision,
added TO the wisdom Of Mr.. Cleveland in
his negotiations with the Morgan-Roths-
childs syndicate, in saving our govern
ment from bankruptcy, will increase con-
hdence. and We may look for still further
prosperity and revival in all classes OF
business"
OTHER EXPRESSIONS.
Mr.. Fred Scott said the action OF the
Supreme Court had been very generally
discounted and had little or no effect on
the stock market, because II had been
anticipated for the last ten days that
the law would be declared unconstitu-
are in the hands of a bond syndicate,
who sold S65OO0.0O0 In gold to the gov
eminent six months ago. for which they
received per cent. bonds which bonds
have not been entirely sold, consequently,
the syndicate is under obligations TO sus-
tain the credit OF the government until
the fall, when we shall have new crops
10 sell abroad.
Mr.. John l.. WiIlams dismissed the
question OF the Dispatch man by saying:
"Our country will never be damaged by
/ the defeat OF any law that smaeks OF
class legislation or demagoguery"
MIR. Aubln L. Bouiware president OF the
First National Bank. said that the action
OF the Supreme Court I'm this matter
would undoubtedly have very good
effect both here and abroad, and would
create a. favorable opinion everywhere OF
the conservative stability OF the United
states Government. and at the same time
have a tendency 10 set back popuiistic
notions.