The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-07-22
i INCREASE OF
lIIlsH EARNINGS TAX
~ SEory of 2. Per Cent Assess
om6 on international Mercantile
Said 20 Have Been Hoax.
1rNEssEE COPPER sLANDERED
eceOrs May Invoke AID of Courts to
nnlsh Parties Responsible for
XA1se Statements Depressing Prop
RY RRnAnAN WALL.

New York, July 9s-~-FaIrly sue
nful work was done by the con-
4kructive party in Wall street today,
Snlthough trading was on an extreme
ss1r Hight scale Considerable covering
M short contracts was INDUCED III,
n barticuiarly in WHY'S Overland, AeF-
Y cantile Marine and Mexican Fetro-
4 Dnm. United States steel was stronS
SHUt dull Quiet accumulation charac-
H4er1xed the general market
49, Denial was made today from Lon
Den OF the report OF "a - per cent
S4ax to be levied on Mercantile Ma
&11ne earnings AS the original report
was contained in an offtcial announce
|&1nent alleged 10 have been made IN
lssnrliament. Wall Street is wonder
e1ng what the denial means, Mo-
sb0dy said the tax had actually been
i<9evsed The denial caused an ad'
( vance.
Talk OF new automobile merger
was heard but the reason W.jys-
overland advanced was that the bears
( have sold too much Of H.
ri Evidence that all the news re-
gArding Tennessee Copper IS nor dis
interested was seen today in the pub
i ltcation of several statements known
10 be false by the persons issuing
Il them. These statements attacked the
4 Tennessee Copper Compan" and were
along the same line as similar state
ments published months ago bulling
cArtain war stocks The attacks on
tennessee Copper have been traced 20
I'm interest with which the marriage
ment has had "a business quarft4.
u The matter has become 50 serious That
snumerous suggestions were heard to-
dag in the street OF the adytsa h}Ny
s4of enforcing the New \ oTk statue
regarding the dissemination Of ma
& liciously false statements IeeardlnS
property.
q Brooklyn Rapid Transit is tbs only
company that ever made Use of ne
statute and it's grievance was small
compared with that suffered by tae
Tennessee Copper Company-uaicss
honorable directors Of the company
+ ere malicious liars The issue has
been dra wn SO sharply that the snort
and ugly word alone describes tnt
n side or the other ~ the controversy
\ Reports on vhtch the stuck and
h bonds have been worked IN low levels
are so clearly ltHelpus that ne news
paper cares 20 gave publicity. hu' that
does not prevent men..p- apparent
good s,andins in the street at'empl-
q ing to get printed publicity for them.
Bonds Enough 20 Make Good.
According 10 an interest identified
with the company the matter Of re-
1 turning the SlI00,000 to Russia is
~ heing considered by the lawyers and
If IL has TO be returned there are
bonds enough In the treasury Of the
company To pay the money II is
alleged that the IRE that made the
; company unable 20 fulhll it's contract
has been traced directly to an agent o.
the enemies Of Russia and that there
fore the frm does not void the con
tract which the company is now ready
& 10 filI having completed its new acid
plant AS il Is Illegal in New York
fer any person 70 sell short stock
of a company in which he is direc-
tor, il is not believed that the short
! Interest in Tennessee Copper is out
standing for the account OF directors
Nor is il believed that the directors
are doing things IN tho hope OF pur
I chasing back at low prices stocks sole
at high levels The whole Tennessee
Copper incident smacks Of the handl
work OF an individual once success
full in a deal In United States Rubber
( in the course OF which nearly every
body concerned and especially the in.
nocent parties, came under suspicion