The Richmond Virginian. (Richmond, Va.) 1910-1920, 1919-09-23
GREAT STRIKE IS BUT
PARTLY EFFECTIVE IN
THE STEEL CENTERS
Wall Street Votes
Strike a Failure;
Acts Accordingly
nv nBoAnAH WALL.

New York. Sept 2A--Non partisan
reports coming from the steel regions
today were to the effect that smaller
percentage of the men had abandoned
work than tho union expected Mills
were running and although the outlook
was for continuance of operations
unless there are riots. There was lit
tie violence
Wall street voted the strike fail
ure and acted accordingly In the mar
ket-
1t Is the opinion OF the highest IL
nancial and economic authorities that
the failure. of this strike marks the
turning of the tide away from Boil
shevism to true Amertcanism- II is
rare to find any expression of sympa-
thy m Wan street for the strikers
althou Wall street LIZ In full sym
pathy with tho real workipgmen.
Taking the view OF the strike that
Wall street did. it Vas perfectly natur-
al tha. stocks should advance. and
they did American Tobacco was the
leader in point of movement but
tinted states steel led In fact IN ALI
day. 1t closed at the best price of the
session, as did other active issues,
bethlehem E was one of the best
bought stocks outside of United States
Steel and the Tobaccos- BALDWIN dts
piayed evidence of speculative
strength. Mexican Petroleum led the
oils and there was an unconhrmed
runor tina. it's stocks would be ex-
changed at for i for Pan-Arnerfcan
common.
II was reported on good authority
that the par value OF Texas OIL would
he reduced to Sss. 1t was also agreed
by the stockholders Of the Sinclair
companies that the merger should be
made. 1t LIS uniery thai two mil
lion shares of nsv stock will be issued
for purposes not yet disclosed
Money was lntla hrfner. as was
to be expected after the bad bank
statement Of SATURDAY. The market
closed strong and active. with sents~
rnent very optimistic.
Professionals were caught heavily
short of United States Steel. United
Retail stores and Bethlehem q, In
all Of these issues the developrns ufs
are such as to make better prices ioGt-
cal There Ia quite large snort In
terest In the general list also eecan se
NO many traders are expecting union
labor tn start riots IL the response TO
the strike call is not satisfactory
In addition to the short interest that
In ertrapped In Bethlehem II. IL Is re-
ported that the ccrrpawy>s employees
will refuse to obey any strike order.
n, and aerst Bethlehem ara thousands
Of trained steel workers ready To take
the places Of any men who so out
Ii Will he the policy of the company
to Ycpiane them permanently. The
steel companies win be very wen
pleased IL the dlsioya1 men can be
wooded ou,. whether tfssy number 10
per cent or even 20 per cent of the
whole body Of workrN
Further details regarding the COM
ing together 81 tho tobacco people ufi-
.as- the fsa3erwhiy, of James r. Duke
Will probably he made puhlic officially
In aay or two. The expectation that
James f. Duke weuid. at the rennest
Of Pert.ival ". Hill. become president
~ the American Tobacco company
-whsn n - rserganf1sd had much 70 40
with the 6mg4ng asssssss, sat fsraS iutf,rk
to n new high record today.
Ohio Cities Gas was well bought by
traders who believe II VIII be absorbed
by the Sinclair combination