Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-06-21
FARMERS BIGGER FACTOR
ON STREET THAN POLITICS
Market Optimistic rs to Future,
but Much Depends on Next
Crop Report.
ny DItOADAN wAI.I..

NEW YORK. June 2O.-Tcchnical
G none ap. sin In the stock market just
II material advance Of prices unless
something cd destructive importanss
intervenes; The leaders OF the Street
on tho crops. The crops are inSre
important than politics this year. Tho
tance this year than union labor
II the world is wise IL will Gator
TO tho producers of food for tho next
GheneTation rather than to the mo-
Encouragement of tho Federal re-
s serve bank and neglect OF duty by
are at the bottom of most OF the acute
troubles pf the country inst now
s ihs grs.L'st trouble OF the United
reserve banks are grossly mis-.
,nannEo6 and that tho Interstate
Commerce Commission is neglcctinr
us duty.
Spectators Entertain Crouch.
preventing denation by permitting
iayoritism in the making OF BANK
Jeans ISams; The The =, Interstate Commerce
Ecstlon OF railroad traffic and popu-
lation by holding freight rates down
ana holding passenger rates up.
viz III sho reserve bank deal fairly
state Commerce Commission do II,
duty regarding the railroads. and tho
county VIII leap forward into u bus
~, Tho stock market has been Debated.
ING ordinary business man has been
hhe!ia;Hu. The producer who has
ders far In excess OF capacity. i,nda
he can, with difficulty. get bank &C.
conmodations and cannot get trans
mills. 'u' vi ms
Co"I Shortage Cuts misunderstanding
Ana now TO compiicn,c things. they
{aIk or cutting down manufacturing
is due to the lack OF cars to carry
" from the mines. and lack Of cars Is
G cue , 10 the neglect Of the lnterataie
rates so that the railroads can get
new cars and pay tho wages mecca
sary to get cars now in operation
pFnperly handled.
:, Just Just wal, unul the crops begin to
move and the country Will realize
"hat mess the raj roads arc IN.
on on ior crop-mov!ns money. or rather
ior crop congestion money. ana then
mas landed the country.
Ana likely IA not Wall Street will
DC blamed for the whole mess. We'll.
as wall street is only n short mama
I Ie inc Erca, mass Of Intelligent Cit
saved somcthip for n ruiny dRy.
Wail Street is to blame. IL ia 10
blame for sitting silent while tho
rum OF business Is consummated
street Ought to Stick Together.
But speaking OF Wall Street. there
~ mater coming UP on the stock
exchange this week that is OF vital
Importance TO every man I'm A,ner-
lea with an Investment or specuiativc
collar; IL Is the Stutz trial. Tho
individuals are OF secondary irnnor.
lance but the principle is Vital. Some
way must be found to project in
veslors against raiders without de-
VeIopinS corners. Instead OF N-htInp
one another. the exchange and NJ
Ryan ought To work side by aldo
In an attempt to devise n new Mar
70 prevent Just such snarls. a com
mission or experts should work o,,t
q scheme. The cSchange ourht 10
nc big enough 10 Ignore mere In
stake '''P'' 10 Ut
The public docs not care whe,bs-
Mr. Ryan remains member. hui ~
.oes care about the criminal raids
L Lt arc features OF the stock mar.
kcl: and II Intends to have them rcr
ulated. The question before the roy-
ernors Is not whether n recaIcitrant
member should be cSpelledc bnt
whether the regulation or the New
iork exchange Is to be left TO its rnv
rrhors or whether IT is TO bc nv nuh-
NC, authority Investors have been
very patient. 'e''