Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1916-1918, 1917-06-01
STOCKS AND THE WAR.

Here Ill luS IulOulS VSSN'
that matter in various otner sec'ion.
OF the country, it is tasnlonaole anu
rather easy to rail at wan slree..
While thai narrow thoroughfare and
the men who spend their Gays atons
1t cannot always prove their lhhocehce
of every charge, there are.tlmes "neu
their most violent critics ma coHiioll
and encouragement IN contempiauns
their actions and estimating 'heii
views. ;,
For whatever else may be sald OF
Wall street and its tlnanclers' uhe
charge that they wilfully throw away
their fortunes in foolish traoins scr
dom can be borne out Even Mr. Law y:
sons bitterest arrangements never IN
dicted any group for that.
So it is heartening at this tune, WIN
the nation at war, TO find puinsn
movement in standard stocks, Win
steel and other industrlals toucnihs
new high records and mlliions OF
shares changing hands at fancy prices.
Only a few weeks ago, before Amer.
teas entrance into the war news OF
reverses for the entente were followed
almost Immediately by slumps IN tne
stock market. Now that this country
itself is one of the allies and shares all
the dangers Of the war, THIS same
stock market is experiencing an excess
of buying coincident with unusual aa-
yances in quoted valuations.
With all due respect for the system
by which the government is guarding
its wartime secrets. there is reason 10
believe that something more tnan an
linking of the truth about the soiutlon
Of the submarine problem, winch SO
evidently has been evolved and about
which government officials are so close
mouthed, has found its way to wan
street. with results which indicate
belief that Germany and her suosea
warfare are doomed.
Rache's Review, which reflects with
authority the tone of the market ana
:. , ;s1s Of the men who make it, has
the following to say OF the upward
trend in industrial stocks:
This change in the attitude OF
Wall street from pessimism to con-
fident optimism has not been
produced effect for the purpose OF
lettering the outlook for the loan.
On the contrary, the splendid pros
meets for the loan which have
opened up, have created
change of feeling in Wall
street. which is itsel; throwing the
weight of all its influence towards
success and in line with all the
other great forces that work for
the same purpose, is doing it with
out charge or hope Of reward.
Undoubtedly too, the rising
prices in the market are forecast
of the great increased business
which is coming to the country
and OF continuous and enormous
profitable prosperity. All the ear
marks show that the right people
are buying stocks. and every indi-
cation points to an advancing mar
ket which, with the usual neces.
saYy and reasonable reactions.
looks like continuing its upward
trend for a considerable period.
Continuous and enormous profitable
prosperity" has welcome sound IL
means that there will be busy factories
and ready markets for agricultural
products, steady jobs for workers and
a brisk demand for men-not only
while the war Is on but while the
world is re-c~ ,tructing itself after the
war.
AR lis supplying the money
W mis- government and the other
governments of the entente are spend
ing for war supplies. and most OF that
money is being expended here in
America. for American products, both
manufactured and agricultural. After
the war. when the immediate effects
of the struggle have been erased and
the European nations pay back the big
loans they have obtained in America,
this country will continue to serve as
the worlds treasure house for many
years. The trade balance and the
money balance will be in favor OF
America and prosperity will continue
here for generations.
This. Of course. is all in anticipation
OF reasonably early conclusion of the
world war. To bring that about.
America must provide both men and
money. literally and Immediately. The
liberty loan is the channel through
which Ire money is being provided;
the army is being modified as rapidly
as possible in the face Of legislative
delay and the regrettable lack of fore
sight in the war department which
would have provided equipment for the
new soldiers.
THE LIQUOR TAX.
~ 81, mt. olI iy,s