The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-09-19
TAFT STATEMENT
BOOST TO STOCKS
STREET AT FIRST DOESN'T vxpEn-
STAND, But LATER THEY
CATCH ON.
CONSPICUOUS DECLINE
INTERNATIONAL HARVESTER AT
NEW Low REcoRD-srayp-
ARD OIL PREPARES
sHAkE-Dows.
BY THOMAS c. sHoTuErI,

NE" foRk. Sept. Is--Preside nt
Iafts announcement to-day that he
lhtenoed TO press his Federal incor-
pofatlon bill for passage this win
yer raliled tho stock market that had
pfohen because of the other state-
ment In his speech at Detroit that
II congress will appropriate the money
the administration will befora 1s12
orihg every trust to court thar ia
violating tns Shermna antitrust law
ADVANCE copies of President Tart.s
speech were 20 freely circulated in
"aiI street early In the day that a
ness bureau established the square
ueal ior the public by printing the
document about three hours hsfore
us delivery and Official release. The
publication created soma excitan,a,,
wall street read the speech hastily
ana decided that 1t meant suits are
70 De MEG against the Steel Trust
the international Harvester and ali
other big corporations.
Refuge Is Furnished.
me street overlooked the fact that
the president promised to bring n
, uours only corporations that are be-
ea 10 exist in vfoIatiou of the law
mere mas been nc word from Wa sh
ihk.on Identifying such corporations
a va second trcught the street de-
s.aea thAt TIE Presidents federation
49, poi ,toa measure would furnish
re'0ge FOR all trIsts that might he
alta cked The rally that foIlowaa
made up nearly eg CT tho ,osSas
III numerous stocks moved ouotatforH
70 nieher figures than those reached
on Saturday. reached
me market as a whole s,owed I'm.
p.oNe"ltnl as result of the day,s
transactions. The f;nancia; worta utll
NOT insist upon sr- endn-e-,. ~ -
sherman antitrust law n "a EadsraI
incorporated law fs passed. An no,
'Ils corporations want ts soma la.
uauer when they can Go business ana
p.e.4"@ht speech Of to- day gives
ansa Oh MS cooperation IN an
=. 1880 70 get such measure. II
80. ~, mat the Democratic Con
-, wan Ioa iixe the political value
% tne credit OF passing such law
pefeionm OF the dav thar.<ara
@NoTed continuation Of the rau,, -
gun last week. "NS 'e'
:, NO Moroccan War.
-. n Gary. head OF the Steel Trox,
.. Yea from Europe with the positive
IiPf H'at'ofi that there win No ~
war over Morocco. He know 81
..ie business n,ec with whom he has
Jost heen in Conference throushnu,
rIF'pe govern Europe even thongh
snsy q. .sf tins kings march ri the
i',aa OF the armies on parade.
-, .oasp1caoos among movements of
,ia,a, Nss the decline of Interna-
80 o. ester To the new low rec
otu VI Aoi II. The stock voS i'm
anle to rally above lag Eva -, -
WIN q net loss OF IL points SIT
ing or the stock was due 10 hs.tae
IN professional circles that ,ha %.
e e would bring suit for disso-
'uuoHt Even though the Interna.
tionai Harvester Company were he.
solved by the government rs stanL
holders would not suffer bacar.a -.
success Is due not to the fact ~ ,,s
oeinE combtna ton in restraint of
tra1e' out 10 the fact that ito con-
su.4ehe companies own patent ma
chinery' without which the harvestry
~ .hs "ofid could not be gathered
aho the secure possession Of which
patents g guaranteed by all, civilized
governments OF the world. Tba. IL
class or monopoly the sherman
antitrust law does not pretend Ia
prevent
snake Down in Standard Oil,
"A new iight was thrown today on
the future management of the Stand
ard Oh business 1t seems that thera
are several OF the companies owned
by the standard Oil that have not
been profitable. II the company had
closed these concerns the govern
ment would have used the fact as
an argument to prove the sitting OF
competition. AS soon as the com.
panies are Independent, however.
they can suspend operations and IL
quidate. Thus the losing parts of the
Standard Oil business will be gotten
rid of.
The public will have to look sharp
when the individual stocks are dealt
in, for II might occur to the insiders
who know which are the worthless
ones to unload those stocks before
the public discovers their worthless
ness The only safe way to buy any
OF the Standard OIL subsidiaries Is
to buy ali or none.
President Taft gave the first Off
cial inttmation of the method 10 be
used in distributing the assets Of the
American Tobacco Company, He
says the distribution will have to
be on factory basis. That is. the
individual plants will have to be-
turned over to new ownership.
Stocks From Europe.
Arrival from Europe cf heavy
volume of stocks contributed to the
break in prices early in the day
Stocks had been borrowed In Wall
street for delivery against the ar
rival Of these foreign certificates. and
the foreign cortidcat Aa WAra dAlfyv