Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-05-15
HORT COVERING CAUSES.
SLIGHT STOCK ADVANCE:
all Money Reaches 12 Per Cent.
copper Boom Predicted as Trans.
portation Situation Eases.
BY BROADAN ,yAI.Y.',.

bS bhohohS WALL. 'H5
NEW YORK. May l4.--Trading In
y with no public participat fon ex-
pt on the selling side. Butt tho
or,s had ovcrcrowded the street
their. covering In the afternoon
used advances OF point or two
some Issues. The only news OF
mt proved untruc--it was In re-
ri TO Polish order tor Baldwin
locomotives.
gold shipment was reported from
'ndon. but the good effect Of this
ID counteracted by announcement
rye volumes of money next week
ON the East to the agricultural re-
ons OF the Middle West.
Gail money went as high as IL per
Mt. although renewals wore at S.
'e Mexican outlook continued tay-
able. Rails were heavy.
Dusincss Credit Most Important.
las credit is the most important
ing in the stock market Just now
isincss credit. not stock exchange
! all rumors affecting money con-
ions Bankers are OF opinion that
the conference at Washington on
,ndny. agreement will be reached
raise the bank rate again.
trhe Eastern reserve banks arc al
ady lending to the Western reserve
nks about $l32.00O.000 on balance
d this IL TO he largely Increased.
the New York reserve bank is in
|. strongest position IL Is expected
III money is for the relief Of the
ricultu-h interests In the plating
new crops and the moving OF rem
nts o. last years harvests.
No relief is being provided for those
ieaguered prohteers who have
a,,tT tan NJ f.,r
led products In anticipation of
cher prices. So there is no relic:
sight for middle-men or retailers
commodities except bargain sales
merchandise or liquidation OF Sc
-!ties. Tho banks are refusing TO
tend additional loans and renew
tstanding loans only on hard terms,
this reason. Il Hecms sure that
'ther liquidation must be seen In
stock market. Liberty bonds are
ginning to suffer severely now.
nc issues made new low records
lag.
,rsc railroad Situation Predicted.
inc OF the most important anan-
re In the countr? who Is In close
,ch with banking. industrial and
lrond business said today that he
rcd the railroad situation would
sc 10 become worse before II could
w any Improvement II is his be-
that only the government can
1T the situation and the govern
Mt will not step In until there is
re serious trouble than at present.
he outlaw strike is not broken.
grows worse taking the country
whole. This fnancicr Keel. that
neth!ng should he done for the
n. but realizes that the roads are
in financial position to do II. II
M 10 b" agreed AMONG railroad
mayors that railway unions In
.r fGhto 70. wage !ncreases have
dealt fairly with tacir own mer.
men NOW Involved !y the outlaw
>Sc having been paid foo little and
40 other clauses OF labor too muca.
bed by the people who are thor
;hly informed on the trade situn.
\. For instance. the Cuba Cane
porat.on announced today thai
Il, o. its sixteen ccntrals had An
ed their seasons work. The sla
bags against an output of iti2.;
for the same Centrals las: year.
shortage OF more than 100000
Is has more than made un In the
&c being received for the sugar.
Copper Hootn Is Seen.
opper stocks are being absorbed
y eingcrly for they are in an
tward marke, position. The need
copper is Worldwide and serious
tho mines are able 10 produce
5bout az Ter cent OF lNclf nor
volume But consumers refrain
n buying because the collapse OF
transportation system OF the
ntry makes them afraid 10 enter
F, heavy production lest they be
bic 70 get their goods 10 the Ill
ate consumers even II they are
TO Manufacture them. Thus II
ivihcut that boom is assured IN
coppcrs-some time. Bot when?
he Mexican situation continues 10
,se the oil people.