The Washington herald., 1912-05-12
A. 6. PLANT g. CO.,
BANKERS AND
BROKERS, 1919 u Sr.
WEEKLY MARKET LETTER.

| The week in the stock market has been
productive OF numerous news items. none
I! OF which are Of sensational or vital
character. Looking over the grlst Of news
we ind the result pretty evenly balanced.
That is to say. there Is about as much
bull news as bear news. It goes without
saying that the bulls claim that all the
news is good and the bears insist that
( all the news is bad. but to the unbiased
observer there is not much choice.
J Crop reports are encouraging. Some
railroad reports were very good; some
were bad. but not very bad. Labor
troubles were ameliorated by the arbi-
tration agreement between the railroads
and the engineers, but this was Offset
by new demands from the railroad fire.
men and a stubborn attitude on the part
of the anthracite miners. The political
situation stands about where II has been
for a month. or more. President Taft
will probably be the nominee Of the Re-
publican party, and nobody knows who
will be the nominee OF the Democratic
party. The news has been mixed, and
by the same token the market movement
OF securities has been mixed. Most Of
the salient factors referred to above have
been discussed in preceding advices. and
it is not necessary to enlarge upon them.
We will confine ourselves to a brief d.
gest Of the prospects,
Crop reports cannotNpe given too much
credence as yet. The crop prospects
are more important than any other fac
tor. but It Is idle to assume any definite
knowledge Of the outcome. There Is i'm
provement in the weather conditions IN
the winter wheat and cotton belts. and
the outlook Is very good in the spring
wheat districts. SO far. so good; but
we must keep a careful watch In this
direction. We had brilliant prospects at
this time last year, and before the end
Of the season our fond hopes were shat
tered.
We are confident that labor troubles
could be amicably adjusted. but our per-
sonal confidence does not represent any
definite knowledge Of such happy con-
summation Over 30 per cent of the de-
mands Of labor unions have been ar
ranged without actual strikes In the last
ten years, and. figuring on precedent and
the calculus Of probabilities, these pro-
again-we don't know for sure.
Neither labor troubles nor politics are
bothering us much. so far as the long
future Of the market Is concerned. These
ara things that are bound to be settled
one way or another betcre long. After
they are settled everything win depend
upon our real fundamentals, our crops.
our foreign trade our money conditions,
&c. These factors are all satisfactory,
so far as we can now see, but there is
enough uncertainty in the immediate situ-
alton to warrant caution and waiting
attitude.
The Foreign situation.
The European stock exchanges expert
enced active trading throughout fthe
week Shipping shares attracted atten-
ton in England and Germany. but
Peninsula and Oriental shares. which
swiftly advanced in London last week.
have since declined when an oficial an
was made by the directors.
stating that the rumorS regarding the
change OF control of the company were
entirely groundless. There was good
trading in American securities in Lon
don during the week. and Marconi Wire |
less and some OF the large cable cou3f1