The Richmond Virginian. (Richmond, Va.) 1910-1920, 1920-04-30
I1IIlE WORKERS
THREATEN TO GO
ON STRIKE MONDAY
by BRoADAN WALL

New York. April 2a.--Stock were
H heavy today in Wall street and closed
without the usual covering move
II mNnt on the part of bearish traders.
This seemed to prove that the selling
NA& very largely for public account
That Is the view leading bankers take
u ~ the situation. The general public
and not the professional trader Is
u cutting stocks down. The bankers
and insiders have done everything
Il possible to stop the liquidation and TO
4akArt a buying movement but the
" public sells anyhow.
Persons are frightened by the re-
variable measures being introduced
In congress and by the attitude Of
J labor and cf Our former allies. De
ciines were general. There was no
particular drive on any group OF
y stocks. The close was near the bot
tenn for most of them. Reading as
\ leader Of the railroad list was the
worst sufferer as was United states
sseei IS leader OF its group
Even the Ryan stocks yielded. for
the general outlook Is ouch that IN
elders do not seem willing 20 take
any chances of being loaded up with
the entire capital stock Of any COM
pany. however good The Stutz at
fair has tanned the bears and the
short selling is small. Therefore the
market is not strengthened on the de-
esfne as IL would be under normal
conditions
when United states steel broke
through 94 ii caused fresh decline
through the entire list It's recent
good earnings were forgotten. 1t IS
known that present earnings are not
good. The action of the attorney
general in asking rehearsal OF the
-. -
most remarkable act Of contempt
agaln.t the highest court In the land.
Another DEVELOPMENT tina. made
Gar weakness II the market was the
statement by Charles II Sahin Of the
E1ararty Trust company that the
money rats IS net too high and that
lower rates need no; be expected
stocss have been bought with the
idea that large DISBURSEMENTS were 10
sse r.4aee ~ war profits and for that
reason high Interest could he paid
Disbursement and interest IS 10 re
main high there Il 10 more lure in
sha market FOR investors.
TIE threat - levy a tax II 30 Per
cert is believed To be causing hoard
sng of money already, Up 70 the /
present rnoney withdrawal from en- !
tarrrfse has been put Into liberty
herds but now (. Will not be put
there because the owners wifi want +
- hide it away from tax collectors.
Y Consolidated textile was hit by the !
resolution II workers in some -
snsYts 81 Massachusetts, To go cu +
strike MONDAY This ts expected 10 +
extend 70 the Tnr1s az this company
In the South.
Reading was hard hit By the fear
81 a coal strike Strife talk also hurt
the manufacturing stocks for most
#Sf them are short OF fuel. II will
be a year before the stock market
viii begin 20 discount the distribution
of Reading assets and IL the mort
gage IL called the distribution may
not be SO large as traders have hoped
II would BE.
Despite the fact that the Texas and
Pacific railroad has brought in n
large oil well or its right Of way the
stock was heavy with others This
Is only another straw proving that
the real reason for the weakness Is
public liquidation inspired by fear Of
congress