The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1917-05-27
STREET Sees BULL
MOVEMENT ON WAY
Two Factors Indicate Such a
Tendency in Market.
GROWING PUBLIC INTEREST
News Developments Susceptible Of
Favorable Interpretation.

NEW YORK, May 27.-since this
country declared last month that q
state OF war against Germany existed,
wall Street has been anticipating q
Dull movement In the stock market.
Has IL come? That is the question
which doomed largest in the week
closing today. There are two out
standing factors which would seem
to favor the superstition that such a
movement Is at least in the making.
Those factors are a growing public
interest In the market, accompanied
by actual buying of modest proper
lions, and news Developments suscept-
ible OF the most favorable interpreta-
ton.
That portion OF the public which
has been In the habit Of buying stocks,
including persons OF moderate re-
sources throughout the country, as
well as those who pass much Of their
time In the commission houses OF the
financial district in this city, are
wearied OF doing nothing. They have
been engaged in doing nothing with
respect to buying stocks since the end
Of the upward movement Of last fall.
Now and then there have been fieet-
ing moments when they sought sur
cease of idleness. but such profits a.
there were were hastily taken. and
then they relapsod for . term. Mean
while the professional traders oper-
ated in q circle. as II were.
For week past there has been a
far different atmosphere in Wall
streeI, tLat intangible something IN
the air which seems u tell one that
those who have money have been
encouraged to use some OF II in
speculative ventures. The FIRST steps
toward a resumption OF public buy
ing have been timorous feeleTs. a.
one touches the water gingerly at
the opening of the bathing season
More Confident Talk Heard.
The size OF the short interest has
been the cause of brisk advances in
the market whenever there was any
sign of buying initiative. These ad-
vances Invariably brought about a
prompt reaction in q hastily taking
Of profits or further short selling
on the assumption that the upward
swing was but momentary. Each re-
action, however. in general left the
level of prices somewhat higher than
IL was previously.
More confident talk was heard
about industrial expansion sure to
follow the great loans which this
country has made, and Is still to
make to its allies, not to mention
the supplies which the Government
must have for its military, naval and
other needs incidental to the war.
Crop prospects seem distinctly better
and the June report is awaited with
keen interest.
Events which make q strong ap-l
peal to everybody's Imagination were
forthcoming. such as the arrival Of a
destroyer flotilla to operate in the
war zone, the appointment of General
Pershing to command forces about to
be sent to the battle fronts, the pas
sage OF the army bill and the Presl-
dents proclamation setting a day for
conscription registration, the inau-
guratlon OF training camps for re-
serve officers, and so on. These
things are concrete; they show earn
estness of purpose and reality OF &C
complishment.
News Aids Cheerful Sentiment.
Nor were developments contributory
to the most cheerful sentiment want
ing in the weeks grist of news. The
morale of the allies has been meas
urably improved by the fact OF this
country's entry into the struggle