Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-09-06
MORE BEAR|SH TALK
PREVAILS IN STREET
See Temporary Setback Be-
fore Upward Price Move
mcnt Is Resumed.
N'iaNI<ERS DISCUSS WAR DEBTS
anttcr VIII lie Taken Up ut the
Annual Convention of the Ameri-
con Bnnkcrs Annexation to Bc
Held In October.
DISCUSS WAR DEBTS
Iyy Il, L.. I,nrnu,,,,

NEW YORK. Sept. 5.-Rails
opened lower this morning because
over tho holiday Wall Street SEEING
10 have reached tho opinion that
President Harding had made a mis-
take In allowing Attorney GENERAL
Daugherty 10 get h!s sweeping in
|Ednction against the striking shon.
men. = concerted effort was made,
too, To get industrial shares lower.
But little or no Roadway Was made
However. there way more b.arish
taik In wal! street today than any
Time since the upward price move
ment vas resumed in August Those
who expressed such views stIlI be-
licve tn. market has nol made any
thing Ike the high prices for 1922.
but the feeling is that Their. IL en-
tirely too much bulllsh talk going
around and that before the upward
price movement il resumed ,hcr.
Will DO temporary setback
To Discuss Wnr Debts.
I'm this connection one shrcwd
stock market trader pointed out
thht one oi thu morning papers here
carried today on IT'S front page In
box this headline. Now FOR
business" under which ther. was
these clippings ton Story" Then
followed number OF headlines from
4
moss Is sound despite s,rlk. hnudi.
caps. reports reserve board farm.
Ing outin"k mitch brighter. credit
men review COnditions.' textile
mills L" incrcas" forces" "Pennsyl-
Nnnia orders !!5 new locomotives"
~ railroads earned siG2G3 600
gross In july. compared with si3-
$4,000 In july" ~ 1921" Gary says
business activity Is gaining"
III u
20 have bought stocks Vas few
weeks ago. when everybody was
talking hoarish."
y great deal more Is going TO be
heard IN the very near future abou,
lrterhllicd war debts Today's
cables from Paris state that efforts
are again being made 10 get us into
discussion Of thcss war loans
around table on the other side.
mo tentative date being some lime
in November. il was also learned
today that committee %; 100 Sew
York bankers is now working on
tho details Of the annual conv.n.
ton of tho American Bankers AS
ISOLATION TO he held here between
/ October and s. and that thor.
VIII then bc much discussion OF tho
i interallied war debts and proposed
readjunmcnt Of the German rcpara-
lions IL mas been arranged - have
I Reginald McKenna Chancellor o,
Great Brtta!ns Exchc1u-r during
/, the war. and now chairman OF Eng
lands largest private hank. the Lon
don Joint CITY and Midland talk on
Preparations AMI interailied debts"
,.homas w. Lamont OF the Morgan
fprm. VIII give hts views on world
fEnanc" from Americas standpoint
Hiut the mos' interesting views at
l(such conventions arc those OK
pressed privately between bankers
IN tho hotel Hobbies In the clubs and
In private banking pnrIors In
Will be able 10 80 back home and
tell his people JUST where W. stand
And visiting interior banker. viii
: return with clear views as To where
i England and big bankers here stand
on the inreralI!ed debts and the Ger.
man PREPARATIONS.
Both time aud cali money showed
tendency today 10 tighten
4 Prosperity Already Here.
Increased activity in the promo
ton OF new enterprises is found In
today's statement Of the new cor
roraiionS formed during The month
OF August. with capitalization OF
100000 or more. due undoub,edlv
- increased confidence In the out-
look for general trade. The stale
ment AT hand shows Sla new cor
porations Heated this August with
d total Capitalization OF $6i6.sG4. 200
! against SGsi $4,000 for July Of this
year. and SiSo.i4I 900 for Angus, Of
1921. For tho eight months the to-
tai capitalization of now companios
- Sh''"i.n"o,hNh in round numbers
against S5,399. 100000 for the Same
period of last year. and slO.2O4. 900
600 for tho first eight months OF
3la20.
There is no longer any need TO
sp"cuia'" when prosperity will re-
turn: IL Is already here" President
Budd. OF the Great Northern, saws
speaking for his part Of the couu
atry. He then points out that prod
ucts OF agriculture. mines and for
est. which make up so per cen, Of
4 Great Northeru's total annual freirh,
8traffic, are now running 20 Ter com
3ahcad OF last year. and IL rc- cent
ahead of the fve-year average
which means much more. Iuly. no
said, showed q larger volume az
business than last year, while for
4 August the gain was even larger
Budd predicts that there will he
Hcar shortage in the coming months
Xhut adds thai such conditions mi
: ways prevail In norma! autumn
months.