Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-08-27
WALL STREET PLEASED
WITH WILSON STATEMENT
interpreted That Government Has
Taken Definite Stand on Mage
Demands.
FEW STOCKS ARE BUOYANT
United States Steel Was Strong
Throughout the Session. Being at
One Time Two Points Higher.
Sterling Exchange Weak.
FEW STOCKS ARE BUoYANT
by pnoADAN WALL.

NEW YORK. August 26.-Wail street
was much pleased today with presi-
ii Ant Wilson's statement Oh tho labor
question. 1t seemed to prove that tho
government has taken a definite stand,
and from now on viii listen to nothing
81, but an increase Of Industrial activity.
fhe stock market r,t Sded briskly
much as hyc points We're recorded in
iciive issues IN the final trading
profit taking shaded these prices some
what. but stili there were large net
gains at the close Of the day.
IN few departments the market
was buoyant. particularly in Crucible.
L. ;. Rubber. Burn Brothers, Baldwin
and Sugar shares. l.. $. Steel was
strong throughout the session, being at
one. one time two points higher sterling
rates were not high.
Gompers Bnck From Europe.
Return of samuel GomperS from
Europe vas looked upon as :. very
important market feature Wall stree,
believes that MIR. GompcrS win advise
conservative action on tn. part Of
labor men. Union labor cannot af-
lord 10 suffer u defeat at Ting time.
The steel corporation has never OBJ
unions. bu, ii has Insisted and viii
INSIST on the open door. with Prcsi-
dent Wilson taking a firm stand In
answer 10 the railroad men. there is
little danger OF "A sympathetic strike
on the railroads to back up any labor
troubles the steel companies may have
The action OF rresiden, Wilson
makes II possible 20 RECONSIDER the
position of the railroad stocks. la this
column they nave been miscredited
for more than u year both as invest
inents and as speculative purchases.
ttniirond Shares Not ln,c,tmcnt.
They cannot be considered invest
ments. but it Is possible that they have.
tn ne ~
<SIdered worthy OF purchasing from the
speculative point Of view. They arc
very low in nSurcs. and. iudgin. from
INC valuation placed on Rock island.
they ar" selling for FAR under :hcir
real worth
Any ,urn in thc railroad situation
must be favorable from nov on t. for
no other reason than that i, seems
Impossible for them 20 b" put in worse
son ther- has been "onsldcrahl" buy
ing OF the rails recently. ana :h-y
mlSh, Weli DE eonSid"rcd along "lth
INC most speculative Of industriais.
Deny Purchase or stock.
phicia! announcement was made yes
tcrday that ,h" TeNnr Compsny had
not purchased any of tho STOCK Of The
Texas and Pacific Railroad as reported
some time ago by supcr-heatcd specu-
l'aci,, stock nsels no ln ias a!I
boosting. II ,s SERVING - section oF
The couhtry t:iat i bound TO become an
c'npr. rich AS that surrounding CHI
ciso. tn road IT, destined - become
III" Illinois Central uf the Southwest
For M advance ia Crucibic wall
SIRE; htd no other rNplauation than
snort interest taxing fright IL
they NH examine tn" reports Of tia;
company they VII discover that a good
deal cf The market activity can be
1ust:hrl Dy cold figures Ia addition
- that u IL true there HAY. been
some professional traders who thought
they knew more about tho company
than the Insiders Cruc!bie is not the
only stock that - heavily ov.rsold
|. ;. Rubber. Baldwin. Retail stores.
MeHican Petroleum aud even L. :.
steel have been sold - such an en-
tent tina; the technical positions Of
those stocks might easily result IN fire
works.