The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-10-02
ONLY little ONES
CAUcHT BY FALL
BEAR OPERATORS COVER THEIR
: CONTRACTS WITH MILLIONS
ADDED TO THEIR CREDIT
EYE ON EASTERN WAR
FEAR FELT THAT LEADING AMER
ICAN STOCKS MAY BE SENT
HOME FOR
CASH.
y THOMAS c. sHOTWELL.


NEW YORK, Oct. 1.-The power
full bear operators who contributed
| so much to the decline in the stock
| market have covered their contracts
with millions of dollars added to their
| credit. The little people, thousands
of whom sold short toward the end
of the decline. are still uncovered
The total OF their short contracts is
| enough to make possible a very m
terial rally at their expense. The
resignation of two directors Of the
United States steel Corporation is ex-
pected in a few days and their resig-
nations will contribute to the restora-
ton OF confidence. Both OF these
men have been heavy spectators in
steel stocks. II Is understood that the
Stanley congressional committee Will
| subpoena the partners OF a New
YORK stock exchange house on Broad
way through which four directors OF
| the steel trust have been trading In
the market
Will Reduce Expenses.
The Hartman railroad strike fur
nishes reasons for expecting a con-
tinuance OF the rally as Illinois Gen.
trai Will be able to cut down its
operating expenses permanently as a
! result Of this movement on the part
of organized labor. Managers Of the
Hartman lines have wanted for
weeks to discharge large numbers of
| men, but feared to do so lest or
Eantzed labor object. Now that the
men are out the road will take back
only as many as are actually needed.
The roads have equipment In good
| shape TO last for months without re-
pairs of Importance. In addition 70
this reduction Of operating expenses
| the company will save several mil.
| Hon dollars in its pension depart.
| ment for the men have been noti-
fed II they strike they surrender all
| accumulated credits in the pension
fund and even II taken back they
Will have TO start anew to qualify for
| pensions.
Public Mind Innamed.
! That the minds OF the people all
over the world are in q highly in
fiammatory condition is proved by the
unnecessary war declared by Italy,
upon Turkey. As matter Of fact
all classes of people and especially
poor people are living better and en-
joying more Injuries than ever be-
fore in the history Of the world. In
every quarter Of the civilized world
demands are being made for reforms
that cannot in the nature OF things
be accomplished quickly enough to
l ~eAs~~s N'CPo ihdAihE lI6 utIndnuS
This inability to overcome eeta blished
customs quickly has resulted in the
worldwide excitement that the italian
government has perhaps with some
wisdom decided to crafty by declar-
ing an unnecessary war. The danger
OF this situation to the security mar
kets lies in the possibility Of an ex.
| plosion OF the pent up militant feel
infs OF Germany and France The
| fate OF the reciprocity shows tina,
even Canada. which Is enjoying the
greatest prosperity OF any country In
the world. Is keyed up to the highes,
pitch Of mental excitement
Should other nations be drawn into
the European war investors abroad
would be compelled at first to sell
securities to furnish money to lend To
their government. They would natur-
ally sell the best stocks and that would
| bring thousands OF shares Of Ameri-
can stocks home to be cashed In.