Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-12-08
IPICT SUPREME COURT
TO DECIDE TAX ISSUE
Wall Street Generally Anticipates
Stock Dividends VIII Not Be
Held Taxable.
READY FOR GREAT ACTIVITY
Sterling Continues TO Decline, but
Many Investors Arc Accepting
Theory That With Continued Fall
M VIII Be Better for Shares.
BY BRoADAN VAIL.

~ sSTc NEW YORK. Dec 7.--wall Street ex-
5spects the Supreme Court to decide to-
5morrow that stock dividends are not
taxable as income and for that reason
I the shorts are nervous and those who
are. looking for higher prices are on
Should this decision fail to make It's
appearance, there will be great dis
i appointment and an irregular market
4 so because the. street is rather dis
appointed that the favorable action in
regard TO the Southern Pacific otl
+ lands and the release of Consular
Agent Jenkins by Mexico had such
little effect on the general list. The
i latest developments in the coal strike
situation. however, tend toward con-
siderable optimism.
Sterling Continues TO Fall.
Sterling continues to fall. but good
I many persons are now accepting the
theory that its further decline will be
reason for advancing the prices of
stocks in Wall Street.
TOT the purpose of recording losses
70 Do charged against taxable incomes.
Many of those who sold have not re-
Il Cal short interest at least This. added
Sp the actual short interest. gives Wall
Street rather strong technical con-
The condition OF the Federal Reserve
Sank Is not all that could be desired.
Put there seems to be no disposition
To- make further attacks on the stock
9 market but rather TO, force liquidation
of~commodities that are held for specu
.aation.. The decline in the foreign ex-
4 OF. these speculative commodities. for
nope OF unloading them in Europe i'm
4ssei near future is fading, and the in
1T was hoped Il few days ago that the
EDGE bill would become n law almost
tt,mmediatelE. but unexpected opposi-
S a9n M, has developed in the Senate. The
dents signature for weeks, ana in
ne ne meantime foreign commerce is i'm
Chnos in Foreign Trade.
collapse OF the exchange rate and
on&os in foreign trade is not worry
1nG Ai,neriG ans nearly SO much as it is
! ttapse IS likely to prove a great benefit
~. alnctica by Forcing spectators to
te1 20 70 TOR distribution in this coun-
Wy the large quantities of commodi-
J les they had assembled to be sold in
rni.a nseo an that can be supplied. The
sofseourse. reduce prices, and that would
cause some defiation Of the currencv'
,np of fer n. commerce experts are long
sesumed with all parts Of Enyon ne
Such trade can only be resumed after
r nr sSt gieaedits are granted. and the
tnere viii be tremendous issues Of for
elsn credits offered for sale to Ameri-
sWay lh fron, 81 That will take money
I'm 'ie STOCK market. tho
investors, IN, refuse to buy them. then
th he oanRinG interests will have 10 take
credit that It will curtaii the loaninr
Pow in Wall Street. Furthermore
E me Iact th2t goods arc being sent IN
( europe VIII mean q reduction oT,ho
supply Tor the American people and
tease IN the cost of living here.
mi, nay Prove Bear Argument.
Ihere1ore. peace and a restored
change rate must prove. in the Raj,
m stg at least, bear argument on The
IN the decision OF the Attornev-Ge,.
e efai IL, to abandon the suit to recoynr
4 tba i innas from from the Southern Pacific,
4mn1lng or square deal for the raiIrosod.
ssfLnere is excellent buying OF underix.
ever r Were "a bends ION now. for If bonds.
! tentatively the rail bonds are there n npe