The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-11-19
LIQUIDATION
s. REALLY TARIFF
00N,s ELECTION CERTAIN,
kADEKs TOOK ADVANTAGE
OF BALKANS.
|1AIT WAGE DECISION
REPORT EXPECTED
NM MoNDAY-supRENE COURT
OPINIONS ALL GO
OVER
3. THoMAs c. sHorwEIL.

1ns on the New York Stock ex-
kange today %ere nominal In the
K0rning there was an advance in ex-
Ectation of decisions from the Su
enrnc court. In the afternoon the
Sarket lest all that 1t gained be-
Ense the professionals were selling
Acrt again. In the last few min
Ees OF trading there was a slight re-
livery, led by the specialties. For
1&n markets were not materially
Asnged either way, especially in
k1nericans.
Action OF the market seemed TO
lieate that the financial world was
81 worried over tariff reform. AL
H0ugh there had been forty-eight
x6urs In which 40 think the matter
rer. no selling of liquidating char
Eter made it's appearance. Nobody
M the professionals seemed TO have
FSny interest in the market. Leading
Eankers are Of opinion that tho cleo
Hon of Wilson VAS locked upon as
pregone conclusion weeks ago, and
hat the decline that WAS believed TO
ave been caused by the foreign war
Represented much liquidation in ana
4ciration of Democratic victory.
Await Railway Wage Decision.
E Now that the Supreme court VIII
Vt have n decision day until De-
<emher "a, the findings of the rail-
KAy wage commission have become
|he paramount issue In Wall street.
The street was given to understand
soday that a decision had been reach
"a and was being printed ready for
*fxacaal publication next Monday. Very
3ew persons will wait until next Mon
Ifay for the findings, unless the docu-
Snent is guarded much more careful
III Than presidential messages and
15fher State papers of Importance.
II professionally insist that the find
mr. liz going TO be A bear argument,
Secause Ii In generally understood
samong railroad men that the engin-
EAfs will get small advance of wages.
This will lead to demands In behalf
M the tiremen and trainmen. RAIL
road men say the reverse VIII be the
Meet because the advance as given
INC 4euf1fffi3ss9ofi wifi bs only In
eldenlai. That is. wages are simply
~ be readjusted, the advance COM
kn9 To only certain classes, the gross
Sdvance being but small
~ Another thing that made the pro-
IassiunaIs boider on the bear side WAS
~ wxHiTr ratrs For Tgaesnegl They
lave been using high money as bear
&fgnments heretofore, and now
fhey say that easy mony VIII
mean that business is falling off to
Smch an extent that there is no de-
1nAnd for funds. Persons who talk
His way forget that the crisis has
HnSsed in the foreign war. Many
niIlions of dollars were taken out
81 circulation by that trouble, for
me- owners of the money were eX~
Hxcting 10 have panic In the stock
~. 7. Tax.. .fs1E y, -
Eatns. and many persons in America
Nos expected bad srnash in the mar
ket on account Of the election and
money was held in readiness for the
nceasion. In both expectations they
have been disa pointed and the funds
gre BOW coming into circulation.
Demands Are Passing.
The very heaviest Of the crop NOV
|ax period is now just passing, so that
1eInands VIII tend to tighten up rath-
III than increase, and money that
eosaes out Of hiding will go into the
general money market. There Is lit
E5e danger. however, OF very cheap
honey before the middle of January.
/ EpeeiaIties distinguished them
Elves American Cotton OH made a
hew high record at 60 Ia, and New
Fork Air Brake. at SIS. Cotton Oil
q being purchased because IL Is not
e6ing to pay a dividend. and Air
Brake because ii Is. An attack was
made early in the day on Bethlehem
5fHei, because Wall street remem-
bered that Charles NJ. Schwab re-
.3ntly announced that tariff reform
3ouid ruin the business of the COM
5any At the close the stock recov-
lred as though somebody did not be-
aeve the company would go out Of
,nsiness
Big orders for steel were in EVIL
Ience. and 1t was said that the United
Hates Stee, corporation would be-
Tin the new year with more than
light million tons of unified orders
IN It's books.