The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-09-28
MARKET fLURR|ES
DUE TO WORRIES
RIaoR OF WABASH RECEIVER
sHIp AND NEW TAFT SPEECH
DlsTIR RIDING.
FORMER IS UNFOUNDED
GOULD SToCKHoLDERs ALSO
PLAGUED OVER REVELATION
or W. L. .pILITICAL
ASSETS.
FORMER IS UNFOUNDED
BY THOMAS C. sHorwrLI.

NV 1'8&, Sept 2l.--SeCUr{fy
markets wera in "a chaotic condition
to-day IN Waa street as result Of
he conflicting Influences Of d reas-
shr1nE statement from steel trust
headquarters aud disturbing speech
mat - 10 tr delivered ~ President
Taft Thursday afternoon.
Foreign aGalrs presented the same
sci of contradictions. for assurance
b3 the Gerfa an minister that an agree
neat had BEEN reached with France
ga Morocco @as offset by the ults-
matum in regard tn TripoH, forward
Cd to Italy by Turkey.
New Haven issued statement
showing THAI by counting the earn
iues m its subsidiary companies It
had earned IFS dividend for the last
Year. This was counteracted with
the announcement OF very bad earn
.ngs for August Is the Union Pacific
and southern Pacific.
Perhaps the least important thing
% the day had the most influence
Qn prices, and that WEE break OF
ten points in Wabash 1 per cert.
bonds This break was explained
after the market closed but the no-
ruptress II the decline started ru-
mors cI q reeeivenshIp Tor the VA
bash
Political Assets.
As th9Ggh 10 plague Gould stock
holders stlll more, the truth came
cut at last regarding the false sur
lj&s that ghs American Telephone
and Tetegra ph Cempany found en-
the books 81 the Western Union when
c0atrcl was taken over. it VIII be
remem bcred that tho telephone trust
caused the surplus OF me Western
Union to DO written down from sal
+t4Sai rs Of June 80, 1919. to ST,
T&ae a3 rs Of June 30, 1911 This
reduction Of $13,T31,148 vas explain
ed III several ways. but IL now de-
Nc}oas that the Western Union TeIe-
graph Company had actually been
carving political campaign eoutrtou-
lions as assets flow many other
corporations are carrying as surplus
the money they contributed 10 elect
their friends 20 office Can IL be
possible that the United States gov
ern4nent wlll be com PEELED TO inyes-
tigate the certified public account
ants who have been Futting their
q. IL Tor years On corporation re-
ports?
What is surplus anyway
Presidents speech.
The general public may wonder
how Wall Street could get excited
over q speech which President Tart
will not deliver until tomorrow af-
ternoon. IA strict confidence, be IT
known that stenographers and print
ers employed by the government
make considerable money selling pub
HE documents in advance Of their
official utteranee Salaries are not
very large at Washington, and the
President of the United States is al
ways kind enough To overlook this
matter.
some people In Wall street said
to-day that President Taft's speech
seemed like an answer To the steel
trust stasenent that J F. MoEgan
and Judgs Gary signed Maybe the
statement WAS an answer % the
speech There must have been some
powerful reason for making abe steel
trust statement Tor tho slaughter
az stockholders that has been going
on the past two weeks under the
deadly settling of stock by Some di-
rectors of tho trust did not move
the board TO pity At the meeting
of the hoard on Tuesday no resig-
nations were demanded