Arizona republican., 1916-12-24
MARKET NEWS By R. Allyn Lewis.

possibility that we shall have a little Hurry at the end of the year in con nection with preparations for January disbursements, but with such excep- tons the money situation should not give Wall street any trouble for some time to come. Think the liquidations and that the situation in the street not strong.
 Dow Jones says: Thomas W. Lawson and associates cleaned up millions Thursday in an amazing coup made possible by advance announcement of German peace proposals and President Wilson's offer of mediation Three weeks ago the Post said Lawson. as chief of operations for the pool. began selling stocks. mostly United States Steel and covered on Wednesday and Thursday. It is said this purchase alone totalled 300,000 shares Of Steel at around par and that his average profit was better than 10 points a share.
 William Sproule. president of the Southern Pacific. in the east for the holiday period. says that the Pacific coast is enjoying marked prosperity
 l see no reason to doubt the con- tlnuance of prosperous conditions for some tune to come whether there is peace or no peace. The coasts pros- perity is based partly on reflections of business activity in the east and partly on growth in the west. Farmers have had good crops and have sold them at high prices"
 Editorial in leading paper in New York intimates that Wilson's note might mean d break with Germany The craze for war stock is past, the backbone of tfe industrial market has been broken. money conditions are un- pleasant, all this leads to conserva- tism and discrimination. Speculation, we believe, will run into the railroad stocks. especially the lower priced shares. There are some industrials which can be bought by those who know their value Stick to these and to the rails.
 Editorials in the Times and Tribune have made people think that Lansing's speech had some significance They interpret it to mean a break with Ger many, unless that country makes fav- orable terms with her enemies.
 Buying of commercial steel and pig iron by Italy and Japan continues steadily. Norway. Sweden and Dem mark have also placed fair sized con- tracts for pig iron recently
 Annual report of Republic Iron X Steel will not be issued until some time late in January. but it can be said that net earnings in 1916 will in all probability exceed s45 per share on the common Report for 1915 showed that the company earned about SIS a share on the common, so that it will be apparent that over s63 per share has been added to value of common stock during last TWO years Republic Iron x Steel is not only strong in it's facilities and mineral supplies, but it IS now exceedingly strong in respect to It's cash and net quick assets. for it is reliably stated that t could retire all Of outstanding bonds, aggregating s16.- J00,0OO, in event of liquidating it's net quick assets and there would remain most substantial surplus here.
 Cuba Cane Sugar Corporation re- ports balance of net profits for nine months ended September 30th of s12,- lf9'ooo. This after reserve for de- preciation of S1,250,000, a reserve for taxes for s290,000 and dead season ex- penses at plantation Of s918,689. The operating profits for the period were Sl4.729.0Oo. After allowing for pre- ferred dividend requirements for nine months period balance available for the 5O0,000 shares of common is equal to S19 per share
 Additional orders for small steel az gregatlng nearly 100000 tons were placed by representatives of the allies during the past few days. This ton mage. like all similar contracts closed within the past five or six weeks is for delivery over the second half of 1917
 Cotton: The strengthening statis- l tical position of cotton is attracting increased attention. It is pointed out that this week the visible supply ot American cotton decreased, an unusua 1 development at this season of the year Liverpool closed today. Also Chicago Board of Trade. New York Cotton anC 1 Stock Exchanges also New Orlean. | Cotton Exchange will remain open. It IS apparent now, says the Journa or Commerce, that there was more speculation in contract buying of cot ton goods in the past two months thar agents would credit. This is indicated by the efforts to unload eoods now being made by second hands.