Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1914-04-05
FEAR Of FEDERAL
CONTROL MAKES
INVESTORS TINID


lspr~.Al cosRrrpororsef TO noRNpc iouaNAD
Chicago uI. April Much cNi-
aenee NOW Iu hand indicates that the
failure vt the security market 20 add
vance. as inc brokers have almost
uniformly predicted for many weeks,
is due to selling by the large men as
against buying hy tho small mem that
is that the Weather people and those
having access to inside facts ANA leis-
ure economic problems are letting So
their holdings OF course when some
body SELLS there is always buyer
but that the stronger people are on
the selling side is "a preventive of
auy spectacular movement for an adj
vance, while the buying of the small
people les mainly ut the investment
Kind and does not tend To move prices
PUP rapidly
Tho volume of sales I'M the stocl,
markct is such as TO bear out this
Iidoa lt is almost as II there were no
speculation, as II the buying was of
the sort which takes the certificates
out ot the market This, of course. is
lam excellent basis for future stability
but 10 is not the sort az thing that
makes hull markets 10 takes expecta-
ton. enthusiasm. purpose, outlook TO
creute these movements which carry
stocks mp rapidly
The bond market is different prop
ositiou ia the ordinary sense IA which
that word is used there is little spec-
ulaUon there. but even bonds have
shown some weakness this month and
during % portion of February
A statement made recently by "a
man who knows the inside OF certain
lines Of financial affairs, affords par
tal explanations He says that certain
large holders of American Telephone
d telegraph stock have latterly been
selling out in a quiet way The inn
.plicadon is that much of this selling
T Is private. not making It's mark ON
the stock exchanges
r The motive for disposlng of this
stool, is the fear OF government own
orship The advocacy of the postmas-
b tor general Of d policy 90 taking over
such concerns us the American Tele-
phone has frightened good many
people. particularly as u meets with
g .t.li"iNiNl fht'' iNH H'ilei AHi'Nh Ntt'"f
t who have heretofore opposed govern
ment ownership of amy OF our utilities
I'm The west the idea s gaining
ground rapidly. rs indeed IS the the
b DRY of statb socialism IN general Many
q people who not long ago We're loud
i'm their praise of Je6ersonlan doctrine
. have weakened particularly since the
. government entered upon the parcels
i post distribution That service has
been success but In iuiurng the
corporation, which by many people
j is considered the greater boon of the
: two.
The selling Of railroad stocks by
large holders whose certificates are
In their own names and In their own
boxes, has also been on rather liher-
al scale. Here. too. the fear OF gov
eminent ownership les dominant 1t is
, assumed that IL the government We're
% buy the last equity in q railroad IL
would not pay so high price as can
s now be realized I'm the market
The idea was set forth some weeks
Iago that people identified with pres
ent government policies were commit
tion as much damage as possible, ON
, the same principle that acWates "a
3 manipulation OF the stock market, that
2 Of depreciating market values for the
purpose of buying in at as low "a figure
as possible OF course, mo- such pur-
pose is avowed by the government.
nor would it pc recognized as "a part
of the cusc. but there is much think
ing and planning going on In an m-
official way which finally develops
into official action
y So far as concerns the ordinary
holder of railroad stocks. current
+ earnings are q sufficient motive for
/ selling II these properties finally right
themselves ana go on To "a larger
I. prosperity present action BY investors
viii prove highly beneficial. for it will
r cvcuuate Ia "a wide distribution of the
stocks among small holders as against
large aecumulatons among the
wealthy