The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-08-15
Il STREET SAYS
HR|RE IS IMPOSSIBLE
800 Mean Starvation for Families
~ 1hounnds OF Worsingmen In
Il Bag Cities.
WANrs TO SEE MEN WIN.
80 Thinks IL Would Mean u New
- of Enciency In the Handling of
zkaflruad Observation-Disclosures Ord
- for Munitions.
NV HRoApaN WALL.

d fcck market was dun today, 1t was
s1xomendously important from a pro-
4 Ge14onal point Of view.
There are certain ways for bull mar
Il 2kefa 10 act and certain for bear mar
n te4s This market in the last six
II Aveaks has fulfilled every requirement
Tor the beginning OF an important a3-
y vance. The test may be said 10 h&F
4 1oded today. for, In order to qualify
4 ~ had TO be strong in the face of di&-
4 mu1eting rumors regarding the rail-
road situation and II was.
wall Street has listened TO talk OF
" proposed railroad strike with
amused tolerance. The general pub
lie has taken this talk very seriously
md apparently the railroad managers
md the union leaders have believed
themselves to be sincere In expecting
= strike But Il strike was manifestly
y 1npoasfnle for the reasons stated In
this column.
The chief reason was so tremendous
mat II makes restatement OF the other
reasons superf7uous. II was that no
city In America has food enough to
I'VE q week without operation OF the
railroads and In the even: Of a food
shortage children of the working peo-
pie would be the first TO suffer. That
was the plain English OF the situation
and all other arguments have been
hooked upon by the banking fraternity
~ pure bun.
Wants to Sec Men Win.
% Wall Street wants the mer to win
their nghi for robbed OF all the pro-
1ossional publicity language the men
are simply asking for more efficient
management in the transportation de-
pArfments OF the railroads. Railroad
mr.
The men ATE now demanding that
some specialists get into the yards
and rearranee the switches and ter
rrtnals so that the trains can get
chance 10 move Congested side tracks
and idle main lines are not proofs ~
efficiency.
Union leaders have been reading e.
fsciency literature until they are irn
bued with il and want Some J." f''@ 30
business The railroad fight as " t-
now summed up and placed Ia
hands of the President is stint
probiem OF efficiency and its SCI
viii mark a new era IN American
& mess.
Actual business in the market y'f
not Important. aside from the mean
4ng that professionals recognized in
Y what was done. Reading moved mp
xhortiy. The stock Is being aceumu-
y lated for the account OF the big pool
THAT had IL in charge some weeks age
when II crossed 100 a share for this
firSt time. They are talking abou
u making Reading an investment issue
hut Reading has been an investmen
4ssue OF high order for years. |
Y may be that this pool has In mind tn
\ new law proposed by Congress. which
v II passed, will tax all corporations SO
4 year for every thousand dollars @
Tx capital and surplus and undfvide
prof1ts above $4,000. This tax
small, but added to other tnducement
might be the final straw persuadini
the Reading directors TO dispense thei
enormous concealed assets.
Consolidated Gas may have beer
making it's millions in advances re
recently on same theory. Union Pacifi'
that another that would be influenced
On the authority of one of the mos
h Important munitions-makers in tn
world 1t liz possible to make the state
ment here and for the first time tina
the allies have placed orders in thi
country for munitions lately, not II
the shape OF so many thousand shells
h o. 70 many thousand guns. but for al
that can be produced" one of th'
leading companies has such an orde
that cannot be cancelled or modified
earlier than September. 1917 Al
4 khoug II can be modified at that time
Is tbs concern ts unofficially assured tina
B Tho limitless production will be need
4 ~ we'll into 1918. II Is because o
" these iimitless orders that the British
AZ plan n new credi, In America 70
"a 1850, 600, 900, more or less