Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-11-24
INVESTORS CAUTIOUS
BECAUSE OF TROUBLES.
Condition OF Market, Labor situa-
uon and Politics Are Dis
turbing Elcments.S
BANKERS URGE STOCK BUYING
Money Was Borrowed to Make
purchases and Then Suddenly.
FUNDS Were Withdrawn Within n
Few Days, Causing Losses.
B9ANKERs URGE STOCK BUYING
by nnoADAN WALL.

NEW YORK, Nov. 23.-Conditions in,
the stock market. the labor situation
una In politics are such as to make
Investors very cautious just now and
20 cause even the spectators to think
normal business in the stock market.
II the stock market can be settled
down to basis OF three or four hun
be the best thing for the country. as
we'll as for the holders Of stocks.
The Inconsistent feature of what
In the last two weeks is that bankers
Kept on urging the people to invest
at the prices then prevailing and
ments. with the full knowledge that
the funds they loaned were TO be
Withdrawn NIT suddenly in a few days.
very naturally will view with sus-
piclon all further recommendations
more the mp safkrg int nsere Ssna and the
stronger the suspicion will be.
Market Receive. Blow.
For that reason the stock market
mas received q blow from which il
y does recover. without going through
cycle Of depression. There are many
SSt o u.s., which; at present prices would
dene per y good goo investments but conf
slroysd. with the destruction ai pe Of that hat
CT n tSn reS,v mas come a postponement
OF the didactic laws of high finance,
human experience always repeats !, it
arise in the country before it will go
back to work.
soi Return Of speculation on a large
Considerably by current conditions.
Tho big banks, finding that the big
men are no longer inclined TO take
get the little people into the bond
( market, but the little people arc in
Gf. .d TO look for quicker results and
me present condition of the market
1hey ind little encouragement to buy
s.IgiRs. 80 they might be said to be
improve.
May Discipline Banks. =.
Another disturbing element In tho
street is the persistent rumof that
certain banks that have shown ten
the Federal reserve bank are to be
disciplined One of these concerns Is
s.ia 10 have been backing a motor
announced that it would sesd its funds
accoTdins TO It's own IDEAS OF banking
procedure and would not submit to
oiGIatloH from any outside source
The weekly statement OF the Federal
reserve hoard. issued today, shows
c nriines nd1 OF government Sc
loans on stocks and bonds. Borrow
ings by individual banks from the Fed
grhi reserve banks were also reduced
IN New York loans on stocks and
bonds declined nearly 76.O0b:00o. 1t
is suGGested that the chango lin dis
count rates of the Federal reserve
banks, which has brought about a
surfing from hfteen-day-war paper to
E reaisGoun,s OF longer maturities. may
eNp'ai" the decrease In borrowings.
National Bank Renorts.
reports of the national banks. ac-
Sorains 70 the statement issued today
ny me Comptroller of the Currency.
sho" a reduction in the holdings b,,
the banks OF Liberty bonds. Victory
motes ana United States certificates Of
period from ..fnrch'4 TO September 10
AS to the future market for stocks.
whether II win be lower or higher
Is matter of chance, but there is no
Likelihood of any sharp turns in either
dlrection for some time to come ana
inc public is likely to keep out until
II sees some evidence OF Ieadershin
%hich at present is lacking