Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-04-12
SIX FACTORS FIGURE
IN EXCHANGE DEALS
Labor Situation and l'ranco-Gcr-
man Emhroglio Among lnIpor-
tnnt Features in Wall Street.
ny nItUtDAN WALL.

NEW YORK, April ll.-SiN factors
deserve consideration in making up
.pc's mind regarding the stock mar
iso, % the next few weeks. Named
in tho order Of their speculative i'm
,,ortan,o thcy are: Tho labor situa-
ZION. tn. Franco German .mbroglio;
gold impor,a'ious: stock dividends:
crops. ana tho attitude OF the local
bankers
Crops really should be placed frat
because this reason is most iunda-
mentally important OF All. hut the
situation has no, Yet hccn rccoE-
rized by tho speculative public ana.
therefore. viii not have as much IN
liuenc. as the other factors for the
,,,nc nc!nr crops viii be the vital
issu, hy midsummer ana. according
20 the present outlook. they VIII not
ne q very Happy one.
rnIiticn, Issues Complex.
The political situation can be iE-
norod for the time being because
here seems 10 To- little choice among
III. various candidates. No one great
man stands oU' III America today.
u is impossible. therefore 80 say
AHA, man or party viii I've triumph
ant i'm November The issues are so
complies and public orinii"n IS
swinging SO lightly, from one point
ar yi.w TO another that tier" Is NO
railing what the outcome viii be.
From the stock market point OF
view. therefore. politics aud crops
may 10 temporarily eliminated.
An TN, other factors are favorable
10 a continuation OF the present cam
a.icu for higher prices TIL" union
labor situation is beginning I" look
Xix, a FREE fight. one element IS
striking against another
Dispute over Ruhr ltrEion.
Tho dispute between Germany ana
France over the Ruhr situation is a
GOOD dcvelcpinynt because II has
brought all Germany sharply 80 at
ten,ion in vc-ard TO the Red n+N
nee II the German pcopic turn Rcd
THAT viii lie :; disaster for the whole
world. equal. Il not greater. Khan the
,i.cas war itself. The recent de-
vylorments hav, apparently checked
Tho drift In that direction and VIII!
bring Germany back ultimately INTO
IN. ranks of nations.
The gold import movement Is now
IN full swing Some s5r.o00.o0o has
been received in New York, in add :
lion TO IN, large shipment secretly
j.rositcd in OTTAWA for trans ship
1rcnt to this market at the o1por-
7uno moment. Some Of this gold is
going to South America. II j. true
lu, tho United states will gain
larely on balance. This gold move
,ncat is having a PSYCHOLOGICAL Ell
feet on tho public mind that is per
l,4ps ont OF proportion to what IL
ought To have. but spccuiatiVrly II
is a very strong bull card.
thinkers Favor Advance.
For several months one Impor-
tant banking factor in Wall Street
opposed the advance OF tltr STOCK
market Ii has finally been con-
rertcd and the conversion has per
haps been due TO stock dividends. y,
ANY rat. ali banking factors are now
in favor Of an advance Of The stock
market. II may be that they want
10 distribute their securities 10 TN
general public. which Is coming into
Wau street generously just now.
With the Pennsylvania Rairoa'
payin. above : per cent for none!
there Is no use looking Tor cheat
money with which to speculate
Therefore. the best thing that wal
Street can do !f /, is going Ia have
a hull campaign, Is to 20 ahead AM
have il over with before the warn
weather and the high rates come. hh'
before q serious situation develop
in regard 70 crops.