Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-09-23
WALL STREET DECIDES
STEEL STRIKE FAILURE
Securities Market Advances in H.
cOrdancc With Views OF
Financial Interests
STEEL AND ToBACCos nIGHEl,
Professionals Reported Caught Hcuv-
lily Short on Retail Stores AMI
Bcthlchcm-Dukc's Return Boosts
American Tobacco Company Stock.

NEW YORK, Sept. 22.-Non- partisan
reports coming from the steel regions
today were to the effect that "A smaller
percentage OF the men had abandoned
work than the union expected Mills
we're running. and although many OF
them were short-handcd, the outlook
Was for continuance OF operations
unless there arc riots. There WAS but
little violence.
wall Street voted tho strike a failure
and acted accordingly in the market.
IL Is the opinion of the highest tinan-
cial and economic authorities that the
failure o. this strike marks the turn
ing OF the tide away from Bolshevism
TO true Americinism L. is rare TO
md any expression Of sympathy in
Wall Street Tor the strikers, although
wall Street is in full sympathy with
the rca! working men.
Taking TIC view OF the strike that
wall Street did, IL was perfectly ma
tural that stocks should advancc--and
they did. American Tobacco was the
i Ie,i,s, IN n,, point Of movGmeni. but
day. 1t closed AT the best price OF
the session. as did other active issues.
Bethlehem I: was ono Of the best
bought stocks outside OF United states
steel and the Tobaccos. baldwin dis
played evidence of speculative strength.
Mexican Petroleum Lends oils.
Mexican Petroleum led the oils. and
mere MAS an uncDlnrnc1 TGmOr mat
IT'S stocks would he exchanged at two
Tor one for lan-.imcrican common. II
WAS reported on good authority that
the par value OF Texas oil would be-
10y the stockholders Of the Sinclair
companies that the merger should bc
made. II is understood that 2.o0rooo
shares OF new stock viii bc issued for
purposes not yci disclosed.
None was little iiirmer as was
10 he expected. after the bad bank
a n "a in IT.
Closed strong and active with senti-
ment very optimistic.
short OF United States steel, Tinted
Retail stores and Bethlehem u. In
all Of these issues the developments
are such as 70 make better prices logi
cal There is quite large short IN
,crest IN the general list also. because
-, many traders are expecting union
the strike call is not satisfactory.
VIII Not Obey Strike Order.
In addition 10 the short interest that
is entrapped in Bethlehem Il. ii is
yin refuse TO obey any strike order,
In and about Bethlehem are thousands
% trained steel workers ready TO take
the places OF any men VINO go out. 1t
replace strikers quietly and TO replace
them permanently The stec! com
disloyal men can be wceded out.
whether ihey number 10 per cent or
even 20 per cent OF the whole body OF
workers.
Further details regarding the coming
together OF the Tobacco people under
the leadership OF James Il, Duke VIII
probably be made public officially in
= day or TWO. The, expectation that
James B Duke would at the request
vi Ierc:val Il. H!li, become president
OF the american Tobacco Company
wnen II is rcorTanzed. had much 10 do
with the bIy.ng which put that stock
TO new high record today.
ohio cities Gas was we'll bought by
traders. who believe IL VII! be absorbed
bs the Sinclair COminat!on