Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-10-25
WALL Street REFLECTS
LOWER TREND OF PRICES
Bankcrs Express Confidence That
Continued Denation VIII Pro-
ducc Moro Stable Markets.
ny uItOADAN WALL.
~ Universal SnrYice

NE" YORK. Oct 24-With the cx-
cepiion OF the uncertainty existing in
connection with tho labor situation I'm
England. Wall Street begins the now
week optimistic. Tho Improvement in
sentiment In due to the continued de-
nation in the prices OF commodities.
especially foodStuffs, and the expecta-
ton that there Will DO more money
available for use In the securities
markets before the end Of the year.
one important factor which is maxi
ing Tor confidence. is the disposition
On the part OF the workers la tho New
rhs iahd textile mills To accept lower
wages. Manufacturers report that
this movement IN becoming intensified
ana that II indicates realization by
working people OF the desirabillty OIL
crafty the demands OF the public for|
lower prices.
Although retail prices have reflect
ca nut little OF tho severe decline in
inc prices OF commodities banking;
interests are confident that tho ulti-|
inhte consumer Will eventually begin
TO pc able TO purchase more with the
dollar While the depreciation in tho
prices of commodities has been dras-
TIC In some directions II is not expect
ed 10 continue to levels that would
nhde rmine the confidence OF the bank
IN. institutions OF tho country
Cation Declines.
Whil o there was n sensational de-
ciine In tho prico OF cotton options
the head Of the New Orleans Cotton
Exchange last week sounded n reas-
curing note when Ito stated that tho
South did not look for any calamity.
n ,nne, ne publication OF that atate-
cotton options have advanced nearly
three hundreds points or three cents
pound for tho staple.
Expectation Of lower retail prices
to u ~,
sharp declines tho lnat week In the
primary markets for grain and meats
reduction In the cost OF living by
reason OF the Increased purchasing
power OF the dollar. should result in
Improvement In the quoted market
prices Tor inrestinent securities I'M
that the Income derived therefrom
Will have greater purchasing power.
the money situation Is viewed with
much confidence on tho part OF the
banking fraternity While II is not
states Treasury Department require
rnents from money market forecasts
thnse demands arc declared to no ind
ing an Increased supply OF funds, ow-
commodities which require less credit
tn he carried and the curtailment OF
nies.
Await Railway Reports.
Important bankers say that the
reached until shortly after the first
OF the year when tho fall and holiday
trade will have been financed, the
crops moved and January l dividend
ard interest payments met.
Tho financial district ,s anxiously
awaiting the monthly railroad reports
wNlrh usually appear about this time.
wall street liz desrous of learning
Just how much the earnings OF the in
dividual TRANSFORMATION companies
WI! he enlarged as result Of tho
higher fire ght rates being received.
railroad shares ss clnas have held
sc'dy and there has recently been con-
siderable ahsorntion Of tho dividend
having issues for investment.
One distinct sign for the better has
h"nn the rav'va, OF interest In public
utility Investments
One dnnressing factor Is the con-
ttnued absence Of tho consumer in the
conner metal market and the steady
decline In tho price OF that product to
level where some COMPANIES which
produce at y high cost arc consider
ing the ndrisahili,y or closing down
their mines untlp conditions improve.