The Richmond Virginian. (Richmond, Va.) 1910-1920, 1919-10-02
Wall STREET BELIEVES
STRIKE is FAILURE
~ nHOApAN WALL.

New York, Oct There was . good
deal OF comedy In todAy.s stock mar
net although some very serious move-
ments took place. The comedy con-
sisted in the Wild activity OF some pa
triots who have been attacking tho
stock market and building UP an un-
wieldy short interest
The identity OF these shorts was
suddenly disclosed late Tuesday even
ing ana proper measures were taken
70 teach them the unwisdom of playing
tho roll OF stock market Bolshesists.
one result OF this was sharp advances
In the tobacco stocks. This led to the
circulation OF incredible rumors Of
deals which IL carried out would re-
duire more money than there il.
The net result OF the days opera
tons was general upiift OF Industrial
stocks and considerable Improvement
In the railroad list. The underlying
reason for all OF this activity was the
belief on the part of Wall street that
the steel strike Ia now an assured
failure and that American labor DOM
iantes in that and other Industries.
While other departments of the mar
ket were active and excited the most
surprising movements OF the day came
In the tobacco shares
Worthington Pump had An excited
advance. II has not behaved well In
the market recently and for that reason
professionals have been selling II. The
company is making very large profits
ana should long ago have advanced to
more conspicuous position In the
list. 1t 10 simply making up the
movement IL should have been having
over q series of weeks.
United States Rubber r. responding
to the heavy buying orders placed by
its firms.
Atlantic Gulf and west indies re-
sponded to report that one of the i'm
portant steamship companies is to go
into new hands soon. It Is fact that
negotiations are under way for "a
steamship company. but whether At
lantfc Gulf or American Ship and Com
merce or United States Steamship is
the one wanted, Official sources are ST.
lent.
!. Railroad stocks attracted attention
for the frst tima in weeks
Just why, II was difficult to deter
mine. Some rails are on the bargain
counter In spite OF the fact that they
are rails.
In Reading there was the specific
report that the company might dis
solve and distribute it's coarMnd iron
properties to it's stockholders without
oefhS forced TO DO SO ny the courts.
Such thing would be In harmony with
the best modern practice. In fact there
are many persons in wall street who
believe that the great steel corpora
ton viii distribute Its subsidiary com
panies to its stockholders. Something
might have been done along that line
had II not been for the strike. All tho
subsidiary companies would naturally
want the benent OF Judge Gary's man.
aEement and a dissolution would rob
them of H. The hardest problem would
he to distribute Judge GAry's property
He is the biggest single asset the cor
poration has
Mexican Petroleum was another stock
to make new high record. but the
reason for It's constant new records la
an old story. There is nothing new on
the subject.
Renewal OF business activity In
largely responsible for the strength of
the paper stocks as there Is n con-
stantly INCREASING volume OF publicity
going ont. in the shape OF advertising
and letters.