Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-07-21
RG.EAWAR:D.HAsI GOOD
|EFFECT0N.RAIL STOCKS
|ilway Officials Believe Brothcr-
hoods Will Accept Advances
Allowed by Board.
olS no !. q. q. EoR RELIEE
ierfcan Wooden Mills Closed He
sQuse Public Refused Longer to
Buy High-Priccd Clothes. Lead
ny to Cancellation OF Orders.
by BnOADAN wALL.

-
tBw YORK. July 2O.-Stocks rail-
or board award OF como $780,
900 increase In. railroad wages.
tho surface this would seem TO
no reason for buying stocks. but
tfidently 10 the Interstate Com
rec Commission Tor new rates that
mako up this increasc I'm wages
give the legal income on rail-
here iS no short interest OF i'm
;tnnce in tho stock market be-
Sc professionals had been work
a week ago. In the reaction
I shook prices down materially
n week tho traders were unable
get short. many Of them lnwill-
eyel That 1t seems Impossible for
20 so In any direction except up.
Money In ItestrnininF Trades.
asy ali rfn aay a rs n %o%ey at
now more. than anything else
Is restraining trading In stocks.
lt the very opening OF the mar
ragged sedo l Mss than ahsh So aaoP ssi
I tho list. Selling orders We're
hdrawn and there was n quick re-
of prices under leadership Of
aiding and Union Pacific among
rails, Vanadium. steel. and CRU
10 among the industrials.
tB Illustrating what slight cncour-
.ment Wall Street needs to buy
chased for u time and rose more
N three points because President
,od said the mills would open as
as there we're orders nndor enough
In sight. He said he had taken
icrs enough for six months oper-
on. but that as result OF the
,lie agitation against the high
discharges May HcstraIn Lnbor.
}}i1 sSha by the ood Pennsylyan1In n
knowledge that other roads would
some restraint on union labor
Ike talk.
board Of Inc Burn and Hutton
cl Corporation. of Czecho- slo-
nahum and Repiogle Steel. 1t IS
the company of whose board me
been made "a director Is n very
portant one. There will he news
"a affecting Replosle Steel cs-
rEe break OF ten ana one half
ints in American Tobacco on Il
glo transaction attracted much at
bacco stocks. Retail Stores and
bacco Products were higher
.oughout the session and America
matra held It's own. Nh additional
formation has been received from
ancci regarding the state OF nego-
lions. for the French tobacco
nopoly.
Expect Mig Hull Market.
With railroad earnings such as
~ arc the increase In wages just
aDted by the labor board being
| roact!ye to May J.. would BANKRUPT
my properties except for the fact
81 the government guarantees in
no until September !. Under the
mmerce Commission must grant In
.asedg freight rates sufficient 10 let
railroads earn Sig per cent on
cir investmeat. What worries Wall
.cet about tile railroads Is the fear
IT the 1nterstate Commerce Com
ssiout may delay announcement OF
rates while making appraisals.
d thus cause severe, cinbarrass-
3. mt TO all railroad companies.
There ts very cheerful talk about
5 street concerning the coppers and
Inerican Smelling In particular.
pper sold today for NovcmbcN>de-
cry at 1914 cents a pound. The
CHEST price for more than eight
1,nths.
1Lending bankers believe that II tho
| Dor and goes into effect, 1t VIII
| .an the beginning Of "A big bull
Iirkct.
Railroad officials are OF the opin-
that the employees VIII accept
| o award with favor, ~