South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-04-28

-NOl loI many years mas InSIe Dcen
seen such sharp advance in securi-
ties as those recently recorded. Peo-
pie who contemplate investment
should reflect carefully on the way
in which Wall st. arrives at its opin-
ion.
In every day trade, the sentiment
of buyers and sellers is about equally
balanced From this equal balance
of conflicting interests, an equilibrium
is reached which usually approXimates
very closely to actual values.
Nine-tenths of all who dabble in
stocks are buyers. They acquire
stocks when they think they are low,
hoping for high prices. The financial
reports in the newspapers all reflect
the great preponderance of buying
sentiment, those who expect TO make
money by advances. The great ma
jority of financial reports at any given
time are cheerful, tending TO encOur-
age buying.
The balance against this great pre-
pOnderance of optimism is kept up
largely by the professional bears"
operators who make business of con-
tracing to deliver stocks at prices
under the market. They thrive by
the over confidence and over optim-
ism of other people. They are a
small minority. But the hopeful.
trusting, contiding public so frequently
pushes prices ahead too fast, that the
bear gets a great many chances to
work his profitable game.
1t is probable that for very large
part of the time for the past 20 years,
prices for securities have been too
high. They are kept there by the
great prepOnderance of the people
who want to make money by buying
stocks.
Wherefore the investing public
too fast to buy securities. 1t prob
ably true that within two or three
years, with the war over and business
confidence fully restored, securities
will be higher But there will be
many ups and downs. People who
buy should take only the most solid
securities and should be prepared to
lock them in their tin boxes and for
get about them.-Telegram, Elyria, O.,
April Is, 1915.
Business conditions are better than
they have been for over a year. This
is in spite of adverse and destructive
legislation at Washington, but by rea-
son of a concerted and determined ef-
fort on the part of people generally to
live through the remaining two years
of the Wilson administration and
make the best of it.-Times, Pendle-
ton, Ind. April 1 .. 1915.
Good times are with us again, says
the secretary of the interior, and bases
his conclusion upon three things.
money is cheap and plentiful, exports
are booming, crops good.
When the war in Europe ends
there will be a big demand on this
country for building materials with
which TO repair the destruction
wroueh " the war. Lumber will be
one of the materials for which there
viii be a vast demand.
Another writer says that theoreti-
caly the biggest wall of protection
ever thrown around the United states
IS N force at present because or the
/ fact that Europe is sending us no ex-
ports Her shops and factories are
closed or working with greatly re-
duced forces and we are buying moth
ing while exporting great quantities Of
/ goods for which the war has created
/ demand. 'PsychOlogically you IL
/ feel more prosperous when this con-
dition is made clear 10 yOu.-Star,
I Salbetha, Kas., April Is. 1915.
Federal banking authorities have
analysed the latest banking statistics,
and find therein proof that the coun-
7 try is on its way 10 a business revival.
; 1t is going 20 be part OF the business
\ Of friends 20 the administration during
I the coming year and a half to make
I the country prosperous or make II
I believe IL is prosperous whether IL IS
/ or not.
ON the other hand. il is going 10 he
hard for a republican politician not 10
pray for another year OF hard times.
/ The party ont OF power Is the official
calamity bowler It's interests lie that
way. Republicans Of the east. where
/ the times are keenly felt. are con-
WINGED that another year OF business
stagnation Will mean that a yellow dog
could BE elected president on the re-
publican ticket. The railroad policy