The Richmond Virginian. (Richmond, Va.) 1910-1920, 1919-09-15
INCREASED OPTIMISM
N SECURITY MARKET
Less Apprehension II Entertained with
Heference to the Labor Situation.
thy BROADAy WALL,

New York, Sept. 14.--wsth less ap-
prenensfon entertained with regard to
the labor situation and a growing be-
lief that the labor conference called
for October by President Wilson will
be productive of much good unless It
Is a one sided affair, Wall street en-
ters the new week confident that the
decline in the primary markets for
prices OF foodstuffsN and the possibility
OF Gan Increase In freight rates should
result In Increased optimism in the se-
curity markets.
One latent report which will attract
much attention this week will be that
current on Saturday that the railroad
administration is considering asking
that the common carriers be given an
increase in freight rates ranging from
twenty to twenty-five per cent Rail-
road executives have stated in private
that the roads need such an Increase
to provide for the last two raises in
wages granted railroad employees and
that anything less would not do JUS
tice to the arteries OF commerce.
Pessimtstic outlook for the railroads
has been most depressing to the bank
ing and investing public. The steady
growth In operating expenses and the
persistent contraction In net has been
hurting the credit OF the common car
vestors express an UNIV iliingness to
place their surplus funds in the obli-
cations of the common carriers The
restrictions in thGeCummins' bill re-
Earding the return an investor in rail
road securities should receive has also
contributed TO restrain persons with
savings from placing them at work in
this class of Investment. There are
bankers however, who declare that tho
fNHfnminS hill has sff e.
lures.
Bankers state that very little pro
gress toward reducing the high cost
Of living can be made unless the pro-
ductive power of the nation Is worked
to capacity and they claim this cannot
be done If labor insists on striking per-
sistently for higher wages and shorter
hours. They add that the Forthcoming
labor conference to be of benefit to the
whole country should result in an un-
Outstanding between labor and capital
which will be conducive to the eiimina-
tioH OF strikes and thus permit the en-
sarged production necessary for re-
construction and reduced living coats.
Demand For Steel
The demand for steel products con-
tinues favorable, but there is little ina
provement in the inquiry for copper.
Late last week the copper shares
showed a slight burst of strength for
the first time in weeks, but these
shares are not held in high esteem at
this time by the general public not
withstanding that the best issues yield
the weston more than six per cent The
coppers are considered to be in a spec
ulative position where, IL the price OF
the metal were advanced or business
expanded. they should respond almost
Immediately, -------
General trade continues good and
there are signs OF further improvem ent
despite strikes, but concern will be
manifested this week with regard to
tho strike called by the steel employees
Tor September 20. In some quarters
the fact that the steel workers decided
to wait until that date to strike was
construed as a blun and an indication
that there will not be a strike. But
others say there will probably be a
strike, but that Ii will be of very short
duration. the theory being that labor
cannot AFFORD to bluff at this time and
hurt its position in the eyes of the
public.
The low rates prevailing for foreign
exchange are inducing the European
holders of American securities to dis
pose OF them In this market as fast as
possible. 1t Is for this reason that
the railroad shares In some degree have
been heavy and hard to move.
Little worry is entertained over the
money situation.