Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-06-17
WILL CHECK ACTIVITIES
OF BEAR PARTY's LEADER
Decision Comes After Sudden
i'rcak of Five Points in Amer
lean Tobacco.
MEXICAN PETROLEUM DROPS
Pennsylvania Crude Oh Cut 20
Cents Per Barrel - isc,liScount
Rate on Commercial Paper
Takes Slight Drop.

By u. D.. Bnrnum.
new YORK. Juno l6.---Eycry-
body in Wall stree, knows that the
violent liquidation in the stock mar
hct Of The past ak weeks has been
due 10 fundamentals. that is frozen
credits on foreign and domestic com
mcrciai business. Everybody also
knows that professional traders have
mado tho most OF this situation by
selling IN" stock market short.
Everybody also knows that leader
SHIP ON the bear side belongs 10 Ia.
most successful trader since Barney"
bnruch deserted Wall street FOR war
work Evcrybody also knows tina.
this successful trader wh0 rs no"
tiv" bear party. makes his headquur-
tors with well known stock *
change iir'n in good standing, hay-
ms It's oi'ic"H on Rroaiway.
American r"bnrcn freaks.
Everybody also knows that some
OF the biggest men ana the hardest
fighters In Wall street are heavily in
tcrcstcd I'm tobacco stockA, men like
Thomas j. Ryan. and James H. Duke.
To-day, after "A sudden break Of nv"
points or NOR" tn American Tobacco.
Tobacco Products, retail stores and
American Sunntra, ruInors were
quietly circulated In the back Offices
of certain banking ana Stock Ea
change firms to tn. eject that steps
were to Il. taken TO check the ac-
tiviti"s Of tho Eucccssful trader in
question vino Is the Acknowledged
leader II th" active bear party nos
opcrHting in the stock market.
Directors Of Hooking valley hold
their regular monthly meeting to-
day. but took no action on the divi-
ocnd which month ago was dc
fcrrcd Chesapeake ana ohio hold
their monthly meeting tomorrow and
doubtless that dividend ".ll again b"
deferred Both properties arc con
trollcd ~ the same interests
IN" banks here are now getting
Gi-2 to : por cent on commercial
paper. and turrovInr from the Fed
cfal RESERVE a. 8 per cent Their
fore tn" real hcrcnt or a decline 10
. p"r cont In the rcdisc"unt rate is
going - ihc hark'rs and not tho
business men Moreover this diTcr-
oucc in favor ~ the banks encourages
th"m 30 keen on borrowing from tho
Federal reserve hank instead OF pay
.'l' on their loaua 10 ;hat Institution.
NHll street. was greatly dlaaa-
HH7foi in TIA. hullpting 81 the Eng
H coal 'r.Ncrs Inst came during
i'" aAy IN ius'alimen,s covering dii-
'''' Wv, 90 ''''-
~" 80 ~" I"''a' l'N''@
'.,'.I" N"" .'
,.,, ,,.r,,t,., 80.
t.r .s,r.. IA, Ma ,,,n,,, ~, 49,.
r-,.l .,. midi, 9us onIy M;
.s. .sunst .oo0 for inc same
n.rlod las, year othor Industries
lsv, uttered uugora.ngly
i..ulsriHe hat a sudden advance Of
3 l-- uoiufa Oh ruWors that he o.
,prt were ABOUT o. declare IAN ca-
ra t.viisuH iu stock Atlantic Coast
..ur declared its regular s.IuiIunUal
u ldord oi al per cent These
.Ipp..tics are g. be consolidated and
r..yu will h' g SiugG d.'!!vnG
Wr>i"nn Oh i."w"rrd.
MeN!rau petroleum made another
u.H 'ow record FOR the year today
Pennsylvania Crude OIL was cut -
c.r'a barre! today. this time to
$-.5p Ry reducing selling prices
daily tho oil and sugar t-adc VIII
certainly dud tho bottom at which
huy!ur will begin
An increase NJ lS."I7 In the mum
Der Of cars loaded with revenue
freight for tn" week ending Ma% IS
compared with the previous week
was reported today hy tho American
halfway Association. the total for the
week was IST23I, which was 1880
under thc same week of last year. but
23,i7S ahead Of tho same week in 1919.
The low weekly point this wear was
made aS o: February 90, at 65S.2:2
cars From January 10 May IS
the number or loaded cars was 1850