South Bend news-times. (South Bend, Ind.) 1913-1938, 1914-04-02
PUBLIC BUYERS
SCARCE ARTICLES
Professional Traders Only Ones
Who Seem to be Interested
in Market-SpeCulative PO-
SltiOn Stronger.

9qL-'5 IIdV 'DHldSHaLHd is
Of public buying. cessation of short
covering and in the face of the worst
batch Of railroad reports that have
yet come TO hand Wednesdays stock
market was firm.
Prices do not recede when appar-
emily liquidation should occur and
traders are going over the ground
again have reached the conclusion
that the underlying speculative propo-
sition ia far stronger than Indicated
from surface conditions, but few have
the courage TO back their conviction
by the purchase OF stocks.
Five points OF strength are summed
up thus:
The thoroughly lquidated Condi-
ton Of speculative accounts IN DrOk-
ers offices. the OversOld market on the
floor of the exchange proven by the
fact that it is far easier 20 lend stocks
than IL is 90 borrow them the thor
oughly sold out condition OF the Lon
con market bankers returning from
abroad reporting a lack of speculative
interest even greater than that exist
ing here. and promises OF q large VIM
ter wheat crop and money i'm abundant
supply with little danger OF strin-
gency during the next crop moving
period"
Quotations were fractionally high
or At the opening. Dizziness followed
with dealings almost entirely profes-
sional. Interest was conferred IN an
advance Of Missouri Pacific from %
- To p II. Banking interests. at
least closely associated with the Rock
efeller interests, are understood TO
have formed syndicate that viii in
sure the payment OF the Missouri Pa
cific notes and improve the position
OF the system. fRumor has it this viii
eliminate the Could control.
Denver issues gGIned from / 90 =
points and Wabash Shares developed a
firmer tone Erie WAS strong This
new dividend payer shows more
sprightliness than many of the nigh
priced issues New York Central was
hardly affected by the February earn
ings showing a decrease, Of $3.434, 600
in net st. Paul was strong. crossing
101 and Canadian Pacific had a bet
ter tone in response 10 the improved
conditions abroad
London had almost a buOyaut tone.
Consols advanced 5-N and both Berlin
and Paris displayed cheerfulness.
Foreign houses were small buyers al
though IL was generally said that Lon
don prices Will rule higher Thursday.
Copper stocks were strong with a
one point advance in Titan Copper.
These shares are particularly prOmis-
ing. Amalgamated Copper was firm.
but dealings In this issue were nOml-
nal. Steel stocks were neglected. The
liquidation in Steel common appears
10 have run out and a fresh impetus
is needed 20 carry prices out of the
narrow rue where traders prey on
each other for the fluctuations of an
eighth
Bonds were unusually active with a
mixed result. The announcement that
New York city will come into the mar
ket with sos. 100000 les on April
u, brought Liquidation and a shading
of prices I'm some of the higher grade
issues Rock Island collateral as
were forced down 10 a new low level
largely through the aggressiveness of
floor traders G.. b. x .. joint is
We're strong.
Logic at times cuts no figure in
Wall street Why ,~ew England in-
}estOrs should continue 10 buy New
Haven selling at 20 with no prospect
ot dividend for some time. why i'm
Nestors should hold New York Central
when earnings clearly Indicate a re-
duCtion OF dividends and why public
should buy Erie common that never
has and may never pay dividend are
problems without a satisfactory sOlu-
zion.
There is an uneasy short interest
that has been unable 20 cover and a
speculative public very close 10 the
market. who would no doubt be large
buyers on a quick break or a sharr
advance.