Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-04-14
REMARKABLE. STRENGTH
IS SHOWN BY MARKET
Allan Ryan Scarcs Bears by Dc.
niand Which May Send Them
to Jury Trials.
III a ~
ny nItOADAN wALI

NEW YORK. April I3-Although
,eohey went to IL per, cent In tho
las. re" minutes Of trading today Il
hnd no influence ont the market, which
closed buoyant. All day the market
showed signs of remarkable strength
In some section or another. First it
was In the sugars and then 1t
switched to the stcels and finally to
the oil stocks. All three Of these
groups jotned In the final up-rush
seldom has market given such 81
demonstration of streng;l. whether
| IL WAS genuine strength or whether
1t was manipulation 1t scared the
bears 80 badly that they were in full!
fight at8the close '
Two developments contributed to
the stampede OF the bears. They had
soid carly In the day, anticipating 4
brenS On reports that the railroad
s.rike E2s spreading. Not only did
the strike fail to spread. but the
strikers began returning to work.
Report from Washington was that
ofiicial action had begun looking to
AN end OF the strike. This caused
hurried buying of stocks.
1 Hymn ,rcrTIfieK Hears.
The second factor was known 10
aAt few. but IL was so terrifying
10 them that the effect of 1t spread
throughout the street without pub
. lie knowledge OF the reason. II WAS
t6ht Allan a. Ryan had asked the
New York stock Exchange Ia sell his
seat. because he could not remain
n member OF tic exchange and re
tain his sclf-respect. This action by
Mr.. RYAN means only one thing
tina. the bears will have to settle ut
his terms or rnn the risk OF facing
| jurios.
Privately members OF the exchange
not involved in the raid on Stutz re-
"a ha rt nf
Is the nrst time that II member Of
the exchange has had the nerve to
stand up for his rights. This is the
first time that the New York stock
Exchange has taken snch drastic
action in regard To Issue that WAS
corncrcd. MIR. Ryahs charge that
The exchange * permitting governors
who are short of Stutz either per-
S1naily or for customers TO serve on
the special committee having the
matter In charge discloscs an aston
ishDg situation. Hut IL liz no more
astonishing than Mr.. Ryar's other
I charge that those brokers continued
selling tue stock short after they had
heen warned not 10 do so--con,inucd
so 10 sell IL. believing they would he
able TO cxtricatc themselves through
Official action. or the exchange.
Demand Names uf Raiders. -.
Everybody knows who bought
the names Uf the raiders. One legal
action already has begun that will
disclose the identity or come or these
raiders The ri.iiing Of The stock
market by Wall street bandits has
Tong been one of In. unfortunate
Things In high hnanc. for which
there seemed To I've no remedy. Last
November aud again In Fcbr iary
this year raids were made that cansnd
the loss OF millions OF dollars to in
nocent persons. The stock exchange
kpok no action TO protect the public.
TSut the minute some OF the raiders
IEet caught in. the trap this exchange
Is quick 10 rush 10 the rescue.
Now from Mr.. Ryan's statement II
appears that governors Of the cN-
rhanGc are among the' group caught
short. This puts the exchange In 4
very embarrassing position. II would
not be surprising IL as a result Of
this Stuiz affair tfc,Legssiature werc
10 pass law providing that all
TRANSACTIONS on all stock exchange,
whether for long or short account.
Ehoulh he rut on pubic record Tor
The inspection of anybody. Real cs-
late transactions are so recorded. By
making it necessary "a have u pub
lie record before Il transaction could
h. considered legally completed tho
Wall street bandits would be done
.fw "a " IL N