The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-08-29
PROFESSIONALS FAIL
To FtAzE MARKET
TOO Wen Established for
IhuAre to Make Serious Dent
IN situation.
SHARP DROP IN GRAIN
IkNnAasaa Declaration Believed 10
feFpsast Early Opening OF K"S9li'i'
4 W1N&Aa tSelds TO the Markets OF inc
WNataa,
~. nnn,nAN WALL.

Ne~ york. Aug. 2S--RrofesSion2i
srnasss yaided the STOCK market lv-
GAY, but accompieac4 Ht's, i'I us
fNnnsiatauus src laid ~ genuine ~.
f4ss,A, They ala succeed J" go
MG.i street gay az -At1S.'. -.
Ia sls..s os tnai. cHr nov ''N'
49, ,resp--N re--alt.le Marine Sold "-
ar wneaf yveat tamtHue az never
Aesape s!rcc enc L s'er corner '''.
lhrees in Chicago Even cotton ..'-
sa,,xs It The close a.. jhe day Inc
s,Saressicr1l chafa-t" "f me se'.'i'A
Ssmx 5,sc;csed by the covering move
Ssssos that caused technical 'a.+t ~
the ra.6~t ot whsch the market closed
y;-afn was SC excited tbaI FHf
sir,e Wan street forsot about STOCKS
and watched the aeonieS - i'a3''=
who were com PEELED 10 accept IN 7'iH.
rases as much So J. cents oushtt
ssss sor wheat than they had paid
for II on saturday. Ordinary con
tracts are carried with a margin 1t
no more than three - I've ems "
hushel SO that the intensity ~ thiN
break MAY be arprec Hie4- II 'etN
many traders stranded ana az s'oOn
traders have been ia te gram mar
Ne, some OF the = x operators got a
motion that llQuds'i3H L. sat- pt forced
and thus came the s.o. break
Grain Much Lower
Grain closed at about the 'o"eS'
.fipures Of tte dag win oYt'ns from
49, To tGc bushel under SatIr-
dAy Cotton rose early ~ the Gay
about 80 cents "A bale and from those
Axures broke about 81 Corn vas on
from I-4c 10 7-Sr. and oa's from
a1-4e 20 ,-Nc husheI.
This collapse III the grain market
was due To the entry o. Humania INTO
the war With allied troops from "a
~1oniki marching eastward to meet al
lied troops from Russia and kumania,
Turkey seems soon 10 be cut on from
xserrnany and that means opening the
Dardanelles and release 20 the allies
of the hundreds OF millions Of Rus-
3ian wheat.
II was TO shut this wheat Off from
England that Germany got Turkey
into the war This campaign Of star
walton inaugurated by Germany was
Followed by tho strict blockade or
adsred by the allies against which Ger
many has been fighting with suhma-
trines.
LAYS 1t All on Rumasfia-
Strange TO say. II was the entry OF
Rumania into the war today that
caused the uphesval In Mercantile
Marine stock Professionals urge that
of the Dardanelias WITH fleets OF grain
ships passing TO the British Isles. Ger
many will resume her submarine war
fare The result VIII he more than
usual danger for all ships 81 the In
&ernationai Mercantile Martno Com
pany. Many OF those ships said un-
der the American flag aud n order Il
protect her most precious shipments
of munitions England viii encourage
the company TO carry Is most Falu
able cargoes IN ships flying the Amer
can flag This Will increase the earn
1ngs Of the American end of the busi
ness and very largely reduce the wa
II tax TO be paid by the company. Eng
1and would be willing 10 do withou
i that tax in return for the great GER
tainty of ample supplies OF munitions
Therefore earnings Of the Marine
COMPANY applicable TO dividends are
likely to multiply.
The WickedtH-t of Them All.
AS to the great railroad strike
Wall Street felt today that the Grim
might be committed. Hardened ma
nipulators expressed the opinion tina
etlua railroad strike would shriv
Wall Street Of all It's sins for NOTHING