The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-10-03
HEBREW HOLIDAY
AFFECTS MARKETS
TOOK MOST OF THE PROPORTIONAL
ELEMENT FROM WALL
STREET.
LABOR NEEDS REBUkE
GtG6E>HEINS ARE MUCH IMPRESS
ED WITH SPEECHES
OF PRESIDENT
TAFT.
LABOR NEEDS REBUkE
By THOMAS {. sHOTWELi..

S.0Sh1 et-1aS VOC SAlTtInGiy llknt anu
fluctuations We're without Importance
1t was Jewish holiday and this took
most ot the professional element out
OF the street. What few traders were
lett were disappointed at the fact that
the plan for reorganizing the Ameri-
can Tobacco Company bonds was not
announced. Mobilization of troops at
Austria and Russia caused some APP
prehension lest other nations be drawn
into war between Italy and Turkey.
Wheat nevertheless remained heavy,
but cotton broke To new low records
Ter the year following very bearish
reports by the United States census
bureau and department OF agrioul-
ture,
The strike on the Hartman railroad
lines did not spread and the men al
ready out are apparently surprised at
the lack of public interest in their be-
half. According to a statement made
by director " the New York Cen
trail that road viii for this year earn
its dividend and perhaps show 81.
0oo.00 surplus or addition. New
York Central Is working into a strong
position among the railroads and
within a year or two will be worth
serious attention as an investment
security. Economies In fuel and gem
efhilS Uettt( use VI cI&lit arc WI a.
ing wonders.
Thinks Labor Needs Rebuke.
American Tobacco issues were strong
with good buying By brokers who
usually operate for insiders. There
are unofficial assurances that the plan
for readjusting the company will be
announced officially before the end
OF the week In spite of the protests
of Independents. Acknowledgement
Wickersham has delayed his return
to Washington apparently for the pur-
pose OF being present at the confer
enee regarding this plan.
MIR. Wickersham's neglect TO act
under the Sherman antitrust law In
regard to the strikes on the Hartman
lines is provoking widespread com
ment. The law does not say that peo-'
pie with capital are the only ones VINO
must not conspire to restrain trade
and commerce. The labor unions en-
gagged In the strike openly attempt
monopoly of the labor necessary Tor
carrying on commerce over the Har-
riman line. Their very call for strike
lis an admission ofguilt. And yet the
lattorney-general does nothing.
1t is no wonder that investors are
not only refusing to buy more securi-
ties. but are anxious to get rid or
what they have. Mr.. Wickersham's
refusal to act In the strike matter Is
condemned by people who really be-
fieve In strikes but who also believe
in a square deal and think ii Is I'M
wise for the government to lay down
one rule of conduct for capital and
trade demands more or less combina-
ton Of both capital and labor.
Government Is Active.
Copper securities are receiving more
attention In conferences than they are
in the stock market. There IL a report
that the Guggenhetms have been very
much impressed by the recent speeches
of President Tart Eads the statements
of Attorney General Wfckersham and
as result will abandon all preteAt
of holding the market for the metal
to accommodate other producers. The
Guggenheims sell as they produce
anyhow, but 1t Ia limited now that they
may produce more freely. The busi-
ness boom in Germany has held the
metal market up, but now there are
numerous indications of a let up In
that country. Many authorities be-
lieve that copper metal u now selling
at = level. representing free produc-
ton, and it will be interesting to see
at waht price the metal finally comes
to-
Another move by the government
against the anthracite coal trust was
made. II Is the belief among coal
operators that the government will
not stop its prosecution OF the coal
trust until the rates for hauling an
thracite over the railroads l. reduced
to the bituminous rate. which Is only
about half that charged for anthra-
cite. Ownership Of the coal COM
panies by the railroads makes II a
>f Ind - k1s, Vn,tSo :