Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-09-17
EXPLOSION NOT EXPECTED
]. !. TO AFFECT STOCK PRICES
Excitement Quicts Down When
s Street Hears 1t Was Duo to
~ Dynamite Accident.
EXCHANGE WILL OPEN TO-DAY
Bankers Say il Destruction Was
Work OF Reds Public Sentiment
VIII So Crystalline ms to Ruin
Them Forever.
~ nRoADAN WALL.

* ,.NEW YORK. Sept 16.-Tickers in
4. ING brokerage houses had just print
at the Morgan oilices Shook
IN. street. 1t found the market in
Sns midst Of sharp advance under
lea sadership Of Reading, Replegle and
Mexican Petroleum. The sugars and
'o5 M.ss were Very strong.
trading was suspended !mmcdi-
3 ateiy, and scenes of confusion then
ensued that were almost ranicky,
Y What allaysd this feeling of panic
accidental explosion OF dynamite be-
:. ing carted through the streets in
= Violation Of the city ordinance This
: freport took the minds OF the people
= away from the idea that Reds We're
~ making n raid, and within ii few
- minutes the excitement had Huictcd
military lines made the financial dis
lssstrict almost impa ssable. however. the
rest of the day.
I. 1,t.Cannot MEASURE Influence Now.
yia. 10 The. influence the eNplos ion may
"a have, on the market cannot be meas
I, ured until more is known about il.
tempt TO cvadc the law regarding
transportation of explosives, it Will.
Of course. have 40 effect. II there
.reiiberatc. it Viii have 3N The enG SS OF Of
turning public sentiment so strongl.
--.2gainSt all radical movements that
Will be constructive. II will crys-
taii2e public sentiment and make the
Keqs so odions as TO ruin them.
During the first eXciieinen, ii was
announced that the exchange would
remain closed until Monday, but
wiser counsel prevailed later. and
SO it will open tomorrow for husi-
ness at tho usual hour. There is no
reason why the price OF any stock or
bond should be affected by the eX-
plos!on.
Stocks were giving good account
Of themselves when. BUSINESS was
which was eS.dividend S. a share.
was selling at the equivalent of
80 IL an advance OF nearly . points
mcnt. Texas Oil had just established
new nigh record price at - with a
large volume OF business, Sinclair
was also moving into new high ter
rit9ry. Sugar stocks were all strong
ACTIVE under leadership Of American
Tobacco. United states Steel had
every sign OF being very sa,isfac-
tory tory , f,ssssion for the bnll party
OF tile steel stocks. and had adj
,y!ancel for moro than points when
probably due to, q realization on the
part OF the public that the buyers
This Ses S Mhcreas ih yea the
: drawers held the upper hand. Rank
srs say they cNpcctt cheap. money for
funds are boating around in the
banks. The banks will be enabled
TO utilize these funds because they
titay he called on amy time TO deliver
them, and therefore they viii be
available for call loans only. But
another brief period OF tight money
sin expected shortly after the first
= of :, October. after which permanent
casing OF the money situation is
looked forward TO.
Phe fact that 1000 coal miners re-
turned to work in tho Scranton dis
l. tr!ct was not overlooked by Wall
Street, which Immediately bought
stocks in the coal companies and i'm
the railroads having connections with
COAL,
Union Pacific gained points in tho
4 brief. although Southern Pacific was
si.1rot moved materially. Eric was per
kSlstentiy strong, the common selling
.''fat IL