Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-04-29
SHARP RALLY FOLLOWS
SEVERE MARKET DECLINE
Sentiment Pesslmistic Despite Up
turn Which Meant Nothing More
Than Covering Movement.
ny UnoADAN wAI,I..


NEW YORK, April 2s.-After a SC.
vero decline ii, which nearly ali is.
sues participated to-day. the stock
eioseo rstalea sharply Just before The
even, with that rally for it meant
nothing more than u covering move
se stree, qe "s rm pSr' bS Of aSa
poItant labor. troubles are at hand
ana that tho policy OF the reserve
oanks In forcing AN immediate cur
4 many business failures along with the
1 ioWeF cost OF living that II Is tho.
"re' EsII Intended TO force.
Money went TO 10 per cent. and the
! gold imports talked OF yesterday
! iaiicd to msteri0lise.
L. re:hearine of the steel case WAS
h hursfui 70 the market because It
l b enn hnr9 the steel INDUSTRY has
1 striko.
\ Mexico also furnished its quota OF
Il 1oleiulness. Although the American
Il knowledge for weeks It's actual APP.
pearance has started much talk Of
abnormal profits and indirectly 1t
So the close was confusing. Tho
Hshort interest is increasing rapidly
Fthnd with everybody hopeless the mar.
|thet is getting Into shape for rally
Advice TO buy United ststcs Steel
ma come to 80 many persons from
to deesre '" SOCK di INA inf VAR, sas
8severe disappointment. Ono had
nTaeticaliy been promised Ly persons
who We're in position to SPEAK for .;he
s.ood TO be so speaking. II was not
Ethe speculative element that was mis-:
iSI hui some Of the most important
|pnfestment interests.
"Rump" strike Hurts Markets.
]. inc excellent repcr. ~ earnings
lied OF market effect because II la
8ier,ns more from switchmen's
6jtrike than 1t suffered from the stec.
The thrext Of a strike OF anthracite
|fniners was not given much publicity
Hout II seems that there Is Consider.
I5,nle reason for fearing such a deve!-
oiaee on ton son no strshe reIliy taxes
Railroads. Industry Will BIO in 4 SER
Eious condition. That liz why Road.rg
YVES sold SO freely in the face or a
i5'upreme court decision.
pne OF me important banking N.
sklng a poll indirectly Of avery labor
inLn In tho country TO lind out what
he thinks OF Boisheyism. the next
|efSes,t,afn,. wages aud The high cos.
3Pt iiSlnx. THIS inuu!ry vii! colt
housamds OF dollars ana tako about
Ahree months TO complete. j., lii.
n n,;, TINT a.ticplar Interest ia
,urprlsinG thing about this private
referendum Ia .aat y. ,!iiE!ti-.a looms
ip as the one biS iESu- toE the presi-
Rtential campaign.
Another fae:,r hurting the Marie,
fas expectation tia. the exchange
would be elos:d on SATURDAY.. Ddsi-
ess Is In sucn crltical condition
hat traders Will &c n!rail to ccmr..t
themselves. oificia! announce:ntn'
tas made after az clos. al business
Dccl.nr Despite Dividend.
Middle slater 'J;! got - 20 Pc.
lent. stock 'ividnnh bu, declined
There was evidence ,: poo! w,rk IN
inclair, done 10 help ."'c OF the
WSh d coal strike threatened tie
emit. The talk OF po.sihl.. exhaust Ion
~ oil supplies IL AL novnShiuc. j he
fnly important fesinrc Of The OF! sit
intion just now ~ tfc c2alpietc COM
nand o. the morl;'s oil iha: the
government may II tho mar future
"a compelled 10 pa tribute Ia Che
3rittsh Envernm"nt In "rH-r 10 1ct
ii enough for It's nat,losh,ps.
Because OF an Idvtn "a y! ihS TX
hange rate WIKI Ssutn America all
If the gold engaged !or expert was
vent.
The strength OF sterling cxchrn;e
nent of the international st;untion az
10 plain covering movement an the
bart OF specuiators wAI hid sold
The Japanese atnck ercfanye Is oX-
'ected TO open saturday morning.
Although International Motors 100
'er cent. stock dividend Is itill un-
aid the stock dropped 10 points to-