The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1912-04-15
WALL STREET NEWS
Steady Rise of Market Shows that
Result Of Panic Is Fast
Fading Away.
Fadlng AWay.
~ THOMAS c. sHOrWELL.

~ AAOMAo - oHOA y AAA3A<e
New York. April lL-The stock market
has been worked into condition where
It takes some Imagination as well as
fundamental facts to keep 1t going. The
fundamentals are better than they were
two or three weeks ago. but the mar
ket is not much higher. Some traders
are beginning to think II has made prog
ress enough for a time. and want It to
rest. Perhaps that would be best. Its
action has indicated the arguments OF
its hackers. and. while there can be no
doubt Of materially higher prices being
recorded In the near future. there Is a
disposition. 10 let the bears try what they
can do.
day. but accomplished little. The sell
ing was purely professional and the
great body OF security holders paid no
attention. The decline began and ended
on the floor OF the exchange. It has left
the technical condition of the market
much improved. and It will require but
little urging to start ii upward again.
transactions made in the last few min
utes Of Saturdays market seemed to
prove the presence OF operators willing
to do the urging. One peculiar feature
Of the market the last few weeks has
been that great buying movements have
been undertaken under agreements to
hold the stocks purchased for two or
three years.
The prices have advanced only as an
incident Of the buying. the buying not
being done for the purpose of making a
market on which to sell This Is true OF the
markets in Can, Canadian Pacific, Erie.
Linseed. Colorado Fuel, and Bag and Pa
per. Campaigns of Importance have
been mapped out to extend over long
periods. The traders who attempt to
catch the fluctuations in such issues
might as well play roulette, but II the
plans do not miscarry all these will be
regarded as substantial issues long be-
fore the campaigns ara ended. There
are other issues In like positions. but
these are named because they, are typi-
cal Of the change that is coming over
business enterprises as a result of the
panic that Is fast fading from memory.
Plans of stOek Pools.
Many persons question the propr'ety
Of publishing in 4 newspaper the plans
Of stock market pools. II is contended
that these reports entics the public to
deal in :he stock. In most cases the
pool members are the only ones who
object, Tor mystery is the best feature
IL.
the present one, where the fundamentals
are known 10 be sound. there are what
amounts to pools In nearly every issue
that Is active. 1t Is only fair that the
public be told the reasons for the move
ments. and thus have an opportunity TO
investigate the sincerity of the market
Information that insiders are working
In certain issues puts everybody on the
defensive, and Il Is only an issue Of real
merit that Will advance under the full
light Of publicity. The past week has
had exhibitions OF beth kinds Of pools.
However much patriotic Americans
may deplore the shameless assaults OF
the imperialists on the government. they
ness men, that the country is emerging
from a panic that has lasted more than
four years. The country is new and Is
making hearty strides toward recovery.
There is no man, however popular, nor
any political party, however fanaticsi.
that can stop the growth. Business is
absolutely certain to improve very much.
for this Is an agricultural country. The
only doubt Is as to whether the I'M
provement viii be simply very great or
whether Il will swell into a boom.
Taking the view that the people will
let a man have three terms as President,
there is even then no reason for invest
ors to part with stocks. Civil war might.
Of course, be a matter of only a few
years after that. but revolutions always
excite speculation. and there would be
ample time to make big stock markets