New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-05-20
MARKET OPINIONS

views Of Security Houses on
s orsssnt Situation and Outlook.
,sing movements in the stock
I .ss, during the week just ended have
a'lSs' . ~ many who looked for de-
lls'oa 9...orment. but confirmed the opin-
5teo w. ..sers who expressed belief that
sfs o. y'' ~ prlces would be lower. The
be tre"D ovtracts from printed views of
.'iioT ~, houses are interesting
W. Henry clews & Co.
,,,s5ence is not strong and the 20
'eO"'. :,oi tendencies Of the day tend to
li-''sU.' d,etrust and check enterprise
+.a'''-, much as II not more than fnan-
alAs aints There is still an undue and
&c. ''s'a.ble disposition TO government
- -.,,gpce with business Of all sorts.
go. ss men. especially those leading
5''A'.. a,eynrlses cannot tell what they
's' I've 70 face. and they are obliged
1-. - for more settled conditions. This
s~ further slowing down of bust
'i.ol ,sssened orders, lessened profits and
a''s "A employment for all concerned
wrenn Brothers & Co.
-,..,o ms been no distinct change in
...,riesl action Of the market. but the
%. - az liquidation has subsidized, at
~, temporarily. Developments Of tho
80 ..,r have aroused In the minds Of in
y - suspicious OF imitation regarding
~ al securities. and these suspicious
- c,r,ously rlsdirected. They have
80 themselves even to stocks like
e~r,viyania and United States Steel
-, and 10 the securities Of many other
.,,rsries whose Arrangements are dis
-.,,v conservative and sound. Steel
..-ron probably has back OF II more
..,gsl assets per share than some Of the
- industrials which are selling at
=, ~ three times its price. Currency
| .,,o-u Is beginning 70 play its part as
,.o.k market factor, but we do not re-
nrd II with enthusiasm"
Hayden, Stone & Co.
III our mind a piece Of legislation
0.v BIZ as important as the tariff bill
q nat affecting the reform Of the cur
81. and this matter. from present in
azrons. IS likely TO come before the
RIA session Of Congress. Almost any
e.sn would be a distinct Improvement
r., that now In operation, and, conse-
gs,tly. the outlook for betterment In
NJ respect is encouraging. The benefits
b gained through a wise change in our
apkng methods would in the long run
much toward offsetting the disad-
,-tsges Of q reduction in the tariff.
Tnauestionably the scarcity Of money
a only in the United States. but al over
as world. is having a restrictive influence
Don speculative activity. The Balkan
ar is. perhaps, largely responsible for
MS condition. and its definite conclusion
5ould bring an easing in money rates.
Already there seem 10 be some signs II
1 slightly better sentiment abroad, which
,.sis only some decidedly favorable event
20 become quite optimistic"
Posner G. Co.
The securities market appears TO be
,vstipe events. That the public is deep
Interested and also puzzled by the in
a.iyity is evidenced from the numerous
aliires regarding it. While investors
rs now chary about buying stocks and
lrds they are nevertheless doing so
gsy day. Although the quantities are
mall. they will grow in time. The ma
5ity Of professional traders say they
as bearish on the situation now, but you
snnot b. guided by their opinion or ac-
n. a. il is always a temporary position
g point Of view with them, which they
u quick To- change when they find them
ssrss wrong The evidence Of underlying
asngth in the market is beyond ques-
an'
Williams, Mcconnell G. Coleman.
Various trade journals report more or
tx slackeuing in immediate business,
pincipally through cancellation OF orders.
THIS occurs every year, however without
lfsYorablo comment. We'll Informed
a1kers advise the gold movement 10
Paris Is about ended Foreign markets
ere Irregular however. with sagging ten
isnces. particularly Berlin. While there
S less pessimism apparent. the stock mar
ssi has made so many false starts lately
hat Developments Of q reassurinS char
acter are needed 10 establish confidence
We continue TO advise the purchase OF IN
vstnent issues on any decline. but would
tscourage the Spectator on a marginal
hss"