The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-03-21
WALL Street ENDS
EUROPEAN WjR
Glve French Victory and Break war
Bride Market ON Peace
Talk.
MARKS AGAIN AT THE BOTTOM.
Organization Of New Easy S'aymcnt
Plan Company TO Market low
Priced AUTOS Tends to tnscttle
Motor Stocks.
Nv BRoNDAN WALL.

New York March 2o,--WaN Street
traders having nothing else particular
to do. ended the war In Europe today,
and caused a sharp break in the mar
bet.
advanced sharply. and that reacted
ere Crucftre American Locomotive"
Tar Foundry Mexican Petroleum
Cuba Cane Sugar and practically all
az the war and auto stocks.
Strength o. Anglo French bonds
Ras The ching that terrified traders.
and they coulf see nothing IN II hut
an end Of the war. They forgot that
Tor several days they have been giving
the victory 70 the French. To he
logical they said today thar victory
for France woVlH end the war
speed!ly. They forget that the market
for months has been based on the
Theory that " would take longer "a
end the wa Y the Germans were 70
lose .har II the French arc TO lose,
Another thing was soleun'y dug up
a. news. was the recent statement OF
Morgan & Co. tina, the firm had not
arranged 2 new war loan for the
sIiies, using American stocks as coll
lateral. ard that. therefore. American
stocks would have to be sold az here
sofpve This statement was used once
more To break the market It is state
Thst there arc ahngt 2.000000 shares
~ American stocks In the hands ot
the British government, but rs that
government is still looking for favor
from American bankers. II is not
reasonable TO suppose that # would
do anything 10 make the handling Of
the American stock market more
aIf1cuIt Morgan & Co. unouestion-
ably. have that situation we'll in hand.
What really looked most serious in
he peace talk was the report that
Banker RreLt1L=- arranging =t4,
purchase the German ships informed IN
The various ports OF America II these
sh!ps are 20 he sold. the banker says
~ can mean nothing but peace.
German Exchange At Bottom,
German exchange touched new
low record today. French exchange
was also lower Although nothing
mss really needed 10 explain the mar
Net reaction which on the face OF if
II purely technical and temporary
the street suddenly became worried
shout the wheat crop. The crop has
been damaged in some parts of the
country. but the high price and eH-
vraordinary efforts being put ont by
farmers to make another big crop Will
ruIlify any damage done thus far.
70 be plowed up will produce corn
and the south is also producing moro
foes crops than ever before. SO
barring drought in midsummer. the
crops this year should be as good as
last.
New Concern Organized.
--33 a4frt hing -rrr,~c than Il technical
reaction carried the automobile stocks
down, 4 was the announcement OF a
sYrm banking Organization to finance
the purchase OF low priced auto
mobiles. The automobile industry Is
/ bw tn a sound basis and therein lies
sts great strenSth Persons without
r4oney cannot buy an automobile. But
II is now 10 be arranged SO that they
car be purchased on an easy payment
plan This means that thousands ~
persons ~Ill he tempted to buy cars
The inevitable result will he that un-
rallecfahle notes will he Aoated- for