The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1916-04-21
Awaiting Advices From
The German Government
1uytng Strength In the AArsst At the
Moment Tracsd Chiefly to the
Snort Element.
Special to Fidelity Inv. Asso.)

Especial to Fidelity Inv. ASSOC
NEW YORK. Arril 20.-Financisl
Bulletin says-rhers Is n general dis
position to await some expression from
Berlin before making new long commit
ments. The buying during strengt Is
traced chiefly to shorts up to this writ
ing. The element working for "A de-
cline Is well organized and influential,
says n private wire.
By a majority OF market specialists.
~ Is held that the action OF the general
list has demonstrated that first, when
pressure OF long stock is lifted. active
shorts are compelled to outbid each
othe rto cover; second. that II Is hard to
dislodge any large amount of stocks
even on fright. third. that the active
list Is oversold. and fourth. that while
war with Germany may not have been
discounted by the setback. a diplomatic
break has been discounted.
In the last three weeks an mount OF
copper metal equivalent TO a three
months production OF all the mines In
the world has been sold by American
producers.
Following an analysis OF PennsyI
vania and Panhandle stocks. a conserv-
ate source takes the stand that they
are attractive at current prices on the
present and PROSPECTIVE earnings.
gong e ,n aa0un stroS Sr ET nsnd are r fepss9
liquidation has PRACTICALLY stopped.
1t Is reported thst the buying OF
American. Cotton oil on the curren.
setback In the stock market Is for
account OF insiders and is based on ex-
banding earnings following the estab-
lishment OF strong financial condition
Dow Jones says - Responding TO
strong demand. German exchange adj
Nanced IN the morning 70 80 for cables
representing an overnight gain Of al
most la. Trading was confined al
most entirely TO cable remittances as
dealers were naturally reluctant to have
any checks in transit to Germany
should war suddenly break out bewecn
United states and that country. Vienna
ono - 40 I.aHIAA 80 n
advancing TO l3.l5 The increased de-
mand Tor marks is attributed to the
transfer OF some German balances to
the other side on account Of serious as
pect which present situation relative to
submarine question has assumed.
IMPERATIVE and continuous demand
for copper Is making heavy inroads
on supplies in hands OF producers and
prices are hardening. August delivery
but little available at the inside price.
september and remaining months OF
year are also up = cent 20 2si=c;. Cop
per FOR immediate delivery is selling In
small lots at 81 cents with May ana
June at 3oAe and July at 29isc.
following The head OF one OF the Iarg-
est banks says. President wilson
demands on Germany seem 10 ave in
spired the hope throughout the country
that the administration IN Washing
ton Is now about 10 depart from poltcy
Of inaction which has brought odium
upon the lnitcd states. Personally, !
do not share the popular hope. 1 think
submarine harbaritleS and the letter
writing will continue until the war ends.
Decline In prices has been q good thing
Tor the market. There was a large
amount Of war stocks in weak hands.
= but now the situation Us much better
in that respect Many people. have.
OF course. lost money and feel sore.
Banks are blamed. but not justly. While
war stocks enjoyed e. big broad market
bankers We're justified iu loauiuE freely
on them. but when they lost their popu-
larity. and 90 became more difficult 20
sell them and when international qucS-
tons began 20 produce disturbing 81
feet. lenders found 81 necessary 20 Gull
over their collateral aud that no doubt
resulted In considerable LIQUIDATION.
General business has obtained n very
good start and We are practically 49,
sured OF several years ~ highly pros
porous conditions. Anything that might
be said about financial CONDITIONS could
not cNaggerHfe strength ~ our position
iu that respect and a- tho stock mar
kct now rests On a nrmFr basis a. q
result ot the recent shake out. D think
Wall street may view The outlook with
entire confidence.