The Bridgeport evening farmer. [volume] (Bridgeport, Conn.) 1866-1917, 1917-06-26
!Woerld of Finance
WATSON'S WEEKLY
MARKET LETTER

The stock market is going through
period of readjustment to money
requirements Liberty Loan needs,
sen1i-annuaI disbursements of .divi-
6end and interest, and the income tax
transfers are all operating to bring
temporary strain on money channels.
After the July holiday 1t Is expect
ed that this stringency will be past.
Meantime. speculative investment is
forced to restrict activities to allow
the banks to arrange their affairs SO
as to permit of shifssng funds with
as little disturbance as possible. This
Is being accomplished in a. way de-
serving of praise. Cooperation is
feature not only between the United
States government and the street, but
between London and New Z ork. Eng
land has resumed gold shipments in
order that rates may not advance un-
duly in this center and disturb Allied
financing needs,
The delegation of extraordinary au-
tocratic powers to one or few men
does not appeal to Americans who
have been accustomed to individual
liberties. of which they are naturally
and rightfully very jealous; and the
uncertainties involved as a result OF
such delegation may become market
factors Until later developments
more clearly indicate the lines of ac-
tivity in the exercise Of those powers
and the money situation is normal.
the bull trading attitude OF buying
standard issues on reactions and ac-4
ceptance OF moderate profits on re-
coveries. would seem to be the best
policy to be pursued by active inves-
tors washington moves slowly. Rad
ical views OF some OF the Cabinet
members are disQuieting. Congress
seems bent ON imposing on trade az
heavy a war burden as possible. But
we believe good American horse
sense will govern in the end. and that
taxation problems will work them
selves fairly under the guidance of
British experiences. It is well estab-
1ished that the food. coal and metal
reqnirements OF the nation must be
handled efficiently to win this war
Z Incentive must be provided In the
form Of reasonable profits to get
maximum results. We think such will
be the outcome. X
Large government requirements in
the way Of aeroplanes are expected
to benefit the Motor shares, which
are already feeling the effect of war
orders for army trucks. The Motor
group Is reflecting short covering and
new buying. Standard Eastern Rail-
raod issues like New Yrk Central.
Norfolk & Western. Chesapeake &
t,1s, we sr.tan,s Insnira
49, $500 ..T1 +rL.,, 3 r sYp,.
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80 pa,1-rsv sc,,i,.-,,s,, STOCKS are
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u AL
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