The Bridgeport evening farmer. [volume] (Bridgeport, Conn.) 1866-1917, 1917-08-28
WATSON'S WEEKLY
MARKET LETTER

Speculative sentiment IN tne' iieNi !
for securities has been unsettled oNei
the price fixing and taxation oesei-
onnents TO an extreme degree follow
inr the making of coal prices lower
than anticipated. Liquidation mas
taken place for account of holders IN
easy. over Washington tendencies.
..There seldom has been time when
the big men of finance and business
were more at sea in their enorls "
gauge the future than they are 70
day. is a trite comment creoateo V
q member of the Exchange
while we are naturally optimastic.
and 40 NOT believe in the sacrifice OF
good securities at this time. we must
counsel 5conservation, and suggest tnat
a waiting attitude in a speculative
investment sense will be productive on
more satisfactory results later Wneh
the atmosphere has cleared In connec-
ton with these two important Iea-
t,,res The final outcome OF vlta4
problems now pressing should be fair
Tor ALI concerned, II American COM
mon sense is to play it's part In the
future as in the past; but meantime
uncertainties work for fears that pro-
duce selling rnaaXer sItss insskne s'ocA
list. FsraAs~ eSr4 yes
A silver lining to the cloud - tnal
lower prices for commodities Wall en-
able the railroads to get their mate
Ifals at reduced costs at time when
their Increased freight rates go into
erect Therefore securities like South
ern Pacific, whose net earnings since
january l. 1917, increased more than
100000 over last year, should not Dc
,,y,s3f,vsfsf4 x,Ssrs a ming market weakness.
riSg5s NJ a1drnmodfsAes are reduced
now 1t goes without saying that the
downward revision to peace Will De
less than might otherwise be the case.
We would not overlook the point
that a cheerful investment market Is
q necessary factor in the war nnanc-
ing Just ahead Declines from current
levels in the stock market will go Iar
toward discounting some OF the I'M
certainties of the present situation.
Speculative circles are giving more
attention to Mexican possibilities fol-
lowing persistently circulated reports
that Mexico is to get loan from the
United States notwithstanding denials
lately made Suthern Pacific. Next
can Petroleum, u. s. Smelling,
Greene Cananea Copper and American
Smelling are looked upon as likely to
benefit from favoring developments in
this quarter.
The progress Of the war continues to
reflect gratifying control over the sub
marine destruction. OF great satisfac-
ton is the evidence that France Is
not only not at the end of its, man
power, but has been strong enough to
drive the Germans back at verdun
from formidable positions While the
Russian situation continues to show
uncertainty, evidence is had of slow
Improvement interrupted by reactions.
Austro- Hungarian conditions strongly
suggest that they have finally become
q liability rather than ah asset for
Germany The Pope's peace proposal
has made Roadway in Austria but
seems to be opposed in Berlin.
Meantime, the tide of patriotism in
our country is g. owing, and it can no
no 1onged be truthfully asserted that
there, is no American spirit. Would
that we had a Daniel Webster to, pro-
mote It, "A true patriot said he on
the Fourth of July, 1902, in an address
delivered in Maine, with his eye and
his heart on the honor and happiness
OF his country, hath an elevation of
soul that lifts him above, the rank, of
ordinary men. Above fear. above dan
Cor, he feels that the last end which
can happen to any man never comes
too soon If he falls in defence of the
laws and liberties of his country