The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-02-15
PRICES DEPEND
ON MONEY PRICES
ON RIMoR FROM WASHINGTON
STOCKS HAVE DOWNWARD
MOVEMENT.
NO STRIKE OF MINERS
WORKERS. IN ANTHRACITE ARE
GETTING BEST WAGES
IN HISTORY or
INDUSTRY.
NO STRIKE OF MINER $
fBv THOMAS C. snorwE1L.)

tBy THOMAS c. SHOTWEtL,l
NEW DIRK, Feb it.-~-StoCks were
strong and active this afternoon when
announceme nt came from Washington
that the Senate viii probably 5uin IN
the searcli for the Money Trust. This
started selling on the part Of pro-
feSsIonals Steel sold of q point IN
ffteen minutes. other stocks Joined
The movement and before the close
the list had sold down materially
from the high prices OF The day.
Such had been the strength Of the
early morning thai the market as "A
whole, closed With net gains
because % the new developments
at Washington. talk WAS heard after
the close az a raid on the market
20 be attempted by profess onals. The
shor; interest in the market Is al
ready large. particularly In Steel and
Union Pacitic. The strong interests
are buying stocks row on every weak
spot. believing that The worst Is near
~ over so far az the stock market
IS concerned. A raid, therefore 10 DC
sucCEgSrul will have TO Tee very brief.
II 1t IS attempted IL VIII offer bar
gain opportunities for buyers
No Strike oil Coal Miners.
Belief is growing In the financial
district that there viii BE no strike
syivania this year. This belief Is
based partly on the ground that the
miners are getting the best wages IN
: the history Of the Industry and that
their condition is being improved con-
xtantly. A further basis for tho be-
lief is found In the unfortunate de-
velopments following the Los Angeles
dynamite outrage. The arrest toGay
OF thirty-eight more persons charged
- H. ffatN h. sAtFf
organized labor. In an awkward posi-
ton. and made II impossible that any
strike could have at this time the
popular sympathy that Is always
necessary for victory. The United
States government proved Its fairness
today by announcing that no evidence
connects the labor unions officially
with the dynamite outrages.
Far from promoting strikes. 1t Is
understood that the labor organiza-
lions are waiting on their congressman
to proven, radical tariff reform. IL
has been demonstrated to their salts
faction that sharp cuts in The tariii
will iniure the men more than II
will injure the companies. The sur
prising situation is thus presented OF
the Iaburing men doing the lobbying
that In other times vas done by the
capitalists. Capital IL perfectly fndit-
Terent, for so many enterprises IN the
countries are calling tor money that
capital can afford TO work elsewhere
If conditions at home are not salts
factory r------
The steel Trade,
An authority on steel states that
the duiiness In the trade Just now is
just as liable to be exaggerated as
was the alleged boom Ina steel a month
ago. At this season Of the year there
IL always a, luii in several departments
Of the trade. Business is as good as
could be expected. The trust especial
~ is not discouraged. although its
managers are prepared 10 face a bad
year
Announcement that an agreement
had been reached between Inter
borough, Metropolitan and Pennsyi-
vaia for operation of the new subways
in New York City caused strength In
the traction stocks. but this did not
influence the general market to any
extent.
Copper shares were strong because
of the constantly growing consump-
ton Of the metal which il enabling
producers to hold the prices Arm,
The tight on Central Leather di-
rectors by the minority interest has
had little intiuepee on the stock. The
charge Is made that some directors
% inc fhHihaH% f'rtitS 9s hldnH ar
$50, o0o year each tor their services.
The financial district considers this an
unfairly iarge salary for the kind Of
management that Central Leather
seems TO be getting.
Probe stock Exchange.
One phase of the Money Trust in
vestlgatiop not liked by Wall Street
IL the probing 81 the New York stock
exchange. which is provided for In
connection with the stock exchange
the deIcate point is the fact that H.
is not Incorporated and members fear
that through this investigation the or
ganization will prove to be a general
partnership. In a general partnership
all the members are responsible for
the debts OF one another. That is TO
say, If firm should fan owing its
customers .monsy these customers
ss3t1iG sue THE sxcffnnse It's Il badt
or the members of the exchange in
dividually, and collect from them the
amount Of Indebtedness. No suit OF
this kind has ever been attempted but
brought successfully in other depart
ments of business. Such litigation
would. OF course. be bitterly contest
44Gr and -the-feftr Is -fTet-.}f tho tftfva-
ton SO much as of Legislation along
the same line.
sss In stss Esrss. Nusf4sgs ssf sis4 rs,s sold
today 80 7, $780, 81 year 46ess 51f, s50. SEQ
Par value of bonds sold today. ga
49,, 00es year ago. $3,9l2,000.