The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-11-02
CELEBRATION OF
TRUST VICTORY
WALL STREET ACCEPTS SITUATION
As conquest FOR MONO
POLES.
MARKET SHOWS EFFECT
MANY BELIEVE. HOWEVER, THAT
GOVERNMENT WILL SUCCEED
IN DIssoLvING THE
INTERESTS.
By THOMAS c. sHorWEa,t..

NEW AUkh, Nov. l-Nau street
accepts the situation in the american
iooaceo Company as proof that the
trusts are stronger IMAM The / piteu
states government, ana the rally in
stocks to-day WAS celebration OF
| this theory. The existence OF an ener-
nous short interest in stocks made
The celebration easy. and the market
advanced as much as points. lne
close was at the top.
In spite OF the optimistism of Wall
Street there are many persons VINO
| believe that right or wrong, the
United States government will sue
ceed IN dissolving the trusts. Victory
of the government In its campaign OF
destruction Will necessarily create
chaos in the business world. Severe
declines in the stock market Will he
inevitable and the present rally Is
welcomed by Investors who want an
opportunity to tighten their holdings.
OF course. II the government Is
bluning and II the President of the
United states has stepped down from
his high pedestal to play politics. the
stock market is acting Just right. But
II President Taft means what he says
and he usually does mean wnat ne
says, even though his friends some
times have to disagree with him then
Wall Street IL laying the foundation
for mere DAYS like last Friday.
The Worst Yet to Come.
There is no excuse for helpofulness,
for tho worst is Yet to come. The
stock market has not yet passed
through the experience OF seeing
three or four OF the greatest financiers
In America arrested for being con-
spirators. The United States govern
ment. according 10 President Taft's
repes ted declarations, intends TO es-
ahlish competition and smash the
trusts
President Taft now realizes that the
civil courts are powerless to accom-
plish what he has undertaken. Since
he is determined to succeed. he will
he compelled TO proceed under the
criminal sections of the Sherman law
and under the securities that provide
that all property in transit owned by
any trust or sold by II. or purchased
by it SHAH be seized and cinfcated
the same az though 1t were smusgled
into the country from abroad.
When J. r. Morgan Is arrested and
a train load OF steel rails Is confIs-
Gated by Federal officials it will be
time to tudge by the action OF the
stock market whether the trust bust
ing campaign has been discounted.
| Campaign to Come.
These statements may seem rather
extreme. but II anybody will take the
trouble to read the Sherman anti
trust law. 1t will be discovered that
they are very conservative and on top
of that will come a presidential cam
paign.
OF course. IN the long run the trusts
will win. because there was never leg
isiative power to overcome the law
OF trade and trusts have been formed
In obedience to higher power Leg
|sssxtnrss. Tso~ersr.r have a4ways hesn
Jealous of their alleged supremacy and
backed up by courts and armies they
are often temporarily to create panics
before being swept out Of power and
being succeeded by wiser politicians
who recognize the limitations Of leg
islation.
One of these fights Is now under
way and It has not reached the eli
max.
One Man Op<omistic.
Two of the most eskiliful market
manIpiila tors In the country have bsen