The Richmond Virginian. (Richmond, Va.) 1910-1920, 1918-04-06
STOCK MARKET FIRM
On WAR Anniversary

New York. April sit vas Just a
year $50 that the United States 81
Tered the great war and the stock mar
III kSt celebrated the anniversary Ivy
s&nshaxins itse.f 81 a most rcrtarka he
manner. All today fluctuations were
d nuxeiy nominal United states steel
I'D range OF crfy one-e,Shth an
Ill ABOUT Eve minutes before Tho CLOSE
nAhsn there WAS an adatt.oual hucj1s-
AAtosa OF one-quarJcY a few speCiRlIties
sk~sre artive bui she net changes fNT
the day were not worth recortlsE.
I'he Important fact Was the undorly IT'S
strength OF The market Wtth the
greatest battle Ia history in progress
aud promising to grow more violent
IN the coming week and tb tfe third
liberty loan making itH appearance
there was nobody wanting 20 sell
stocks. Money rates ea@ed uV-
This action Of fhc market means
that wall street has been Thoroughly
prepared for tho liherty Joan All
private interests hRve been sutnrsreaH
in the public necekfl'y. TIC whole
world Of finance has rat its house 80
order 90 that nothing may interfere
*-ith the one big piece Of business 81
raising money for tire wsr
The new loan is expected 10 20 rap
n ally and 70 hs largely overhu described.
IL is 10 he hcped that tha govern
rusnt will encourage tire use cf fNeee
bonds as curreucy FOR tire purchase 81
goods and thereby supp,v Tho great
deficiency ef money that Is causing
sorns err harrAssnoe nt--s deficiency trpt#
rnay induce Some persons 10 hesitate
about buying ths bonds
Violation Of the loan is proceeding F
IN dfgnifed way that tF sure IN win
great popularity for r. The loan tf
assuming not oni~ q patriotic aspect /
but . religious one for this Is re-
lfTsous war more than ANYTHING else .
u In loan in defense ~ the vary /
tcundstion OF civilization and religion /
fer defeat Of the AlIes would mesr I
ths collapse of both and the reFtora- /
ffon Of the dark aEcs
In wall street speculation has been
reduced to a minimum and plunr3nK
has been eliminated altozether. Brok
ers are submitting TO regulations that
In normal times they would oppose
with hot resentment sinply because
they feel that no sacrifice f. too great
In visw Of the tremendous issues st
stake
what happened IN ths stock market
today or what may happen tomorrow
10 OF little irnportanks compared with /
the big place Of business that wsll
street 10 beginning tomorrow morning
tia floating OF the third liberty loan
Railroad earnings continued BAD,
but what Of II What else could hap
p@n considering the weather IN Jan
uary. The steel corporation will make
= very bad report Of earnings for tina
Arst quarter, but what else could u DO 4
IN vfAw of the remarkable weather
1nefness 10 now going ahead n fun
npesd and that speed Is being accei~
etAtsd In every factory, Economics o
30 introduced the railroads and in :
creaae6 rates that are Haon 70 be put
Into effect for both freight and pas
ssnEsrs will settle the railroad prob ;
lem. Coal lie being rushe al to consum- I
bxa IN record volume. The government
N planning to encourage the produo-
linn OF petroleum IN greater volume
thAn ever The telegraph and teiA~
rasuns companies wiii probably be :
taken under government control fol .
Fowing the spprsisai nov In progress Z
That will stabilize tire price OF thosa
securities. e
Brokers have little cause for com =
tlaint for the BONANZA profits made 4
rtncs the war began srs more than o
lncuKh TO tide them over any period
X slack business such r1ay be seen y
srrtag the liberty loan eompsiRu .