The Bridgeport evening farmer., 1917-11-13
WATSON'S WEEKLY
 MARKET LETTER

The outstanding feature of the mar
 ket for securities has been greater re- lsponse to war news since the United States actively entered the world con- ifltct- We think this is reasonable; we believe 1t will continue; and those who are interested in it should make their plans accordingly. News changes over nighttime market does
 likewise. From the top of, a sharp
 xise 1t will descend perpendicularly on
 news such as the Italian reverse or the. Russian revolutions. It is not
 hard to understand why. They may
 mean prolongation of the war with it's
 capital steadily increasing. Under such circumstances investment inter eats must readjust their holdings to meet new demands. This we believe they are doing to the point of safety. Wall street is prepared for eventuar ties We continue to recommend a sspoculative investment attitude of conservatism in which developments
 removing uncertainties should be awaited before making important commitments on margin account. Ac- tive1 investors who desire to purchase outright will find many bargains at present levels.
 Consideration of a Russian separ- atB peace arouses uneasiness in specu- Iaffve-investment circles because of the suggestion of the release of many soldiers and prisoners for addition to German armies and the making avail able to Berlin of the food resources of
 Ruseia- There is of course always the possibility of Japan taking hand through Siberia that might counter act to some extent the adverse rac- torn of such a situation, but the out come is full of uncertainties, such, for example, as the drafting of Russian { soldters into German armies by Kerensky dared not impose in the in tere6t of the Russian Republic. Face to face with. these grave possibilities, Amorfca's part in the war reaches a
 stage of the first magnitude, with all its responsibilities and dangers.
 Domestic conditions have been
 largely forced into the background.
 Election developments have displayed
 growth of Socialism, which may or
 may not be considered opposed by the
 victory of woman suffrage in New
 York state. The success of Tammany in New York City has brought for
 ward the pledge of its Mayor-elect to
 use his influence for municipal own ership of gas and traction concerns. These things the stock market has considered in the general readjust- m6nt. Should the Interstate Com mereer Commission grant proper re- lief for the railroads, there is no doubt that 1t would restore consider
 able confidence which has been lost
 during ths. past few months There is q strong Oemand for taxation revision, and the matter may be taken up at the winter session of Congress due to beg1n next month The statement by the Secretary of the Treasury upon the announcement of the Second Lib erty Loan over-subscription with g. 500, 600 individual subscribers, that its success win make it unnecessary to fssue Another loan in January, was a satisfactory piece of news to the banking and investment community. Anhconda Copper is reported to have <. bought block of Inspiration stock. Attention is directed to the point. {, well-taken, that the habit of thrift { and ecoilonny now becoming more ap- | parent throughout our country, will 1 be an important factor in accumula- the war should be the source of sup ply that will contribute heavily to the investment security @market. Intima- tfons from Washington are becoming stronger that wages may be fixed, as
 well as prices of commodities, and if necessary resort may be had to con-
 scriptfon of labor from industries not | essential to the conduct of the war.