The Richmond Virginian. (Richmond, Va.) 1910-1920, 1919-10-17
STOCK BEARS HAVE
| TROUBLE IN STORE
ny BROADAS WALL

New York. October IGNORE net
losses we're recorded in the stock
market at the close today than gains
but the operators who were work
ing for higher prices seemed to have
the upperhand when trading ceased
I Early in the day banks let brokers
know that money was very scarce
even at the high rates charged. Re-
newals were made at 10 per cent.
! Brokers already have loans that are
records. They are embarrassed be-
cause most of their customers have
such large margins that they cannot
oecently ask for additional ones. At
the same time the volume OF bust
ness has been so large that the
brokers are nervous.
Therefore, wher selling move
ment set in customers found en-
couragement when they were inclin-
ed to sell The result was a heavy
dow inward move ment. This move
ment was started by the profession
ais who were already heavily short
Of stock. They incf eased their
short lines and made no effort 20
cover in the Afternoon when tho mar
ket turned.
The situation is such now that II
the professionals are to save them
p
they have put out in such stocks rs
Mexican petroleum. Pan-American.
Studebaker. Retail stores and I. 5.
steel they Will have to discover some
Thing TERRIBLY wrong somewhere.
Unless they do discover some reai
reason for selling stocks they are in
serious trouble
The news has been very bad the
last few deva and is now becoming
more cheerful.
Tho Shipping strike IS now ended
and If the soft coal miners persist
IN carving cut their threat of a
strike they will find fuel oil intro
duced permanently into thousands
OF factories where coal has always
| cen used. That is one reason the
uit stocks are s0 strong
A new reason was found for the
recent strength in tire stocks. The
tire companies have orders for more
than they can produce and all they
needed was more labor to increase
their earnings Thousands Of men
iroCed out Of employment by The
-aieel strike are finding work in the
rubber factories at Akron. The out
ltok therefore. IS for very large in
crease OF production. This * being
discounted in the prices OF the
stocks
Sugar Is becoming so scarce that
In another month practically none
viii he obtainable at the groceries
This is due very largely to hoard
ug by thousands of persons 1t *
going to hit the candy companies
hard and particularly those that use
large percentage Of sugar.
The old. old story Of merger
Of the White and the Pierce-Arrow
~ 10 ~, ia .
Street Both Of these stocks were
leaders in the advance today, both
making new high records for the
movement.
The Stutz Motor company and
bethlehem Motors have both exhib-
tied unusual strength. Chandler
continued its remarkable advance
but yielded under the pressure Of
profit taking. The automobile
stocks are in about the strongest
tra de position Of any stocks in the
country SAKE Mexican petroleum and
American are both being ac-
cumuiated and good many shares
Of both stocks are being shipped
ont Of the country. There is no
-Gbt that Developments Of unusual
imp rtance are at hand,
An aunccment yesterday of the in
corporation IN Delaware of the HI
tFr0a tlCnai Trade Mark corporation
with 42500n0 chares of no par
stock marks another step in the
great program OF world encirciing
bushes enterprises planned by
Janres r. Duke: George j. Whelan.
Thomas F. Ryan and Joseph t.
Widener. shortly after this an
/ nouncement was made Retail Stores
which had been under attack. became
strong As did American Tobacco
ard A. # secur4t les The latter ia
IN be taken into the Trade Mark cor
poration.
The first Liberty Loan sold at lot
which is the highest price OF the
year. hut other issues were heavy.
The Street Is being prepared for a
Very bad statement by the United
States fer this quarter. Investors
4 will not pay much attention TO the ae-
/ tual figures for .epe<v body knows
work has been interfered with Sc
riously by the strike
/ Remington Typewriter continued
/ its advance selling at the highest
! price in years.
American Wooden was one az the
stocks to display great strength.