Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-11-17
NALL STREET IS PURGED
OF SPECULATIVE STOCKS
.lndustfials Have Been Severely
Shaken, but Prospects Arc
Brighter.
P.UBLIC is AFTER RAILS
High, Grade Motors and Oil Shares
s. Arc Among Those That Still Have
Considerable Vitality and Are i'll
S Demand.
nv nRoADAN WALL.


NEW YORK. Nov. ie.-wall Street
Il opens new week with market that
has been pursed OF most Of Us specu-
y lattve stocks. The industrials have
likely the ofrenses that led to tho
Shake-out will be repeated. Attcn-
8 ton has therefore been attracted 10
tae railroad stocks, which have not
many months. These rails are held
6 by the general public and therefore
tho movement in them will be well
come to the public at large. rs well
The bull market in the industrials
may be considered ended except in
Special stocks, where there arc par pa,
htg-i-Erade motors and OIL stocks are
among those that st!ll have consid-
cradle vitality. Trading in them will
are standing together in their deter
mination to permit no further demon
stratons of Importance.
Congress la Watched.
Whether railroad stocks will he
profitable AS market leaders depends
ports from Washington are tsat Con-
gr-ese will eliminate from tie new
railroad bill those features that have
been objectionable TO union leaders.
The spirit of compromise is agreed
upon everywhere as necessary rs be-
tween labor and capital, bccaucs it is
evident that both have made serious
mistakes. II is we'll that things We're
brought TO q crisis as they were. for
now There is complete understanding
d by every one.
. Union labor ,,as been made to un-
derstand that the public will not fol-
low its radical leaders. but that the
public will respect the course OF labor
and grant IT many favors II il will
prevalent opinion of the country that
what Is needed now is more produc-
ton and longer working days rather
than restricted production and less la
orally for production. Only by in
creased production can the high cost
OF living be reduced.
Money Situation Understood.
As to the money situation, it is
thoroughly understood by every one
necessary. but the great complaint in
Wall Street has been that speculation
IS permitted in commodities. whereas
mam Street ,Ss, III, Is astneked for using
4 The Wall Street banks are carry
ing sevoral billion dollars of Europcan
credits sold to America as result OF
the war. and tho presence of these
eompifcates matters very much Wall
Street is perfectly willing to quiet
Gown and II would not have objected
10 restraint On the part of the gov
eminent tho past week except for the
tact that leading banks were urging
inc people to speculate up to the very
day that they suddenly turned and
tho brakes had been applied gradually
there would aave been no criticism
and. M ard feelings
TS-Ons or tho most important things to
hook forward to now is the crop situa.
tion for next year. The country sim
PLY must have a record output of all
hinds OF Agricultural products If the
a
eral years OF big crops, the law of
chanco Is against a big crop In 1920.
strenuous Efforts on the part of farm
orS are therefore necessary to produce
tho desired result II union labor does
not abate some OF It's demands for
shorter hours. the farmers may take
eu,nm n' a snem heads to restrict their
2 Calamity impossible TO measure
o@hers or coal properties need have
No rear that the introduction OF oil into
Dig cities will ruin them. BUSINESS is
growing SO rapidly that the introdnc1
ton OF oil for use in houses and mani
factories Will leave plenty OF room for
coaI in ract- oil and coal may well
To sesresate Eoads.
Ono point OF the railroad program
as now proposed is that the roads
WIZ De compelled TO serregate Their
lndustrial business from the railroad
euch companies as the Read
in&, southern Eaeific and Great North-
on have industries OF tremendous
yaaoaoen The segregation OF these
tremendous properties would mean
tho declaration Of stock dividend. 70
taeir holders and q, least their -ishts
u the new companies 10 be organizei
mere IS nothing better than figh,s
On STOCKS wnen properly handled 10
accelerate the market in The stock. 49,
tne rails have not moved in many
months and are low in price, il IS Ell,
uteiy possible that Wall Street may
ton 10 the Industrial market Just com
tie INN edia,e future in Wall s,-.ot
e'siole. may see an Improvement il,
ket will also help bonda