Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-05-26
WALL STREET THINKS
MARKET MUST IMPROVE
STOCKS Close Strong and Active
Under influence ofSProfessianal
Buying.
NJ XICAN OILS GO WE'LL
Govornment's Disposition to Help
Railroads Ono Optimistic Feature
. While Mexican Coup's Result Is
Favorable to Business Interests.
MOAN OILS co WE'LL
ny i.l,oADAN WALL.

NEW YORK. Ma, 25.-Stocks
closed strong and active today under
ooth Tor long and short account. The
: market has had such "A decided fall
recently and the news has been 80
bad that Wall Street believes moth
- ing worse can happen. The govern
ment Is showing "A disposition to do
something TO help the railroad stu
alton and bankers are beginning to
realize the folly OF hammering bust
ness men when they are corncred by
union labor
T., The short interest in the narkc,
is large. Insiders OF many big cor
porations have bought their own
stocks freely. Foreign exchange is
rseorering rapidly, The cutting Of
prices has resulted in a temporary
r--~Avc OF good VIII on the part Of the
public and the stock market Is feel
inE the sentimental influence.
. }soh we're the leaders OF the market.
Tho death of Carranza has placed
Ihofc companies in much stronger
position. They have desired no favors
OF the Mexican government All they
narc ever wanted was square deal
. 9preEon has given them to under
- stand they Will get II.
...-~~ Advise Against short SuIrs
-I+.1Whethcr the rise In the market to-
wInt IL more than technical rcac-
=, Jpn following the big decline cannot
! ,sS sm. de' eT ,%d for several days
bankers are so far converted to the
constructive side OF the market that
tfhy ar" advising customers against
.j6cy are urging them TO cover in
-e.Ahe motors. stnels and coppers in
S.Particuar.
80. There was furious buying In the
Copper list that advanced these is
sues an average Of four poInts II
- well known that the coppcrs are
IN a strong position from irade,
.--is7a breaking Of the railroad con
- Eestion SO that the metal can he
= moved 10 market
OF speculative Interest from the I'M
4, duhtrials to the rails. The rails have
not been considered as Investments
for long time and lately no, even
fair speculation. They have been
purely gambling stocks With the
prospect OF Il little better treatment
AT the hands of the Interstate Com
,nerce Commission the rails may now
he considered fairly good speculative
issues.
Tohnccn Stacks show In Well.
Tobacco stocks all showed good
buying today. AZ did all other issues
that have enjoyed stock dividend dis
tributiona.
Republic Steel and vanadium were
strong features Ia the afternoon.
THIS strength was due partly 10 in
trinsic merit. but very largely TO the
large short interests that exist in
both OF them,
y
record on the movement when some
actual transactions were at 2.a2 cents
a S,or checks and $40 cents for cur
rtncy. These figures were not oil
cially recorded by the banks but
some rather large transactions were
made AT those levels The English
purchaser Of Ge rrrun properties has
made an immense change In the COM
merciai status OF the central en-
pircA.
Much Of the covering today was
inspired on the belief that Saturday
as well ns next Monday might be a
etock exchange holiday. II the gov
crnment were TO act promptly In re-
lief of the railroad situation II would
also thereby relieve credit and next
Tuesday morning might easily see a
remarkable change In the stock mar
ktt situation.
Sugar stocks moved up with the
rest Of the market. and they are
likely to do better than most stocks
because OF the strong trade position
IN which they stand.