The Bridgeport evening farmer., 1917-08-21
'WATSON'S WEEKLY
MARKET LETTER

ANY one who was fortunate enough
to, be present at the Union League
Club s66h[ "Wednesday night-when Eli
hu Root made his powerful speech
ON TRAITORS at Home''-could not but
have been Impressed with the solem-
nifty and sincerity. earnestness and
fcrcefulness with which he warned his
fellow countrymen of the dangers we
are facing here among ourselves,
When he said, There are men in this
city who should be shot at sunrise
he directly referred to the danger or
pro-German propaganda in America
A. he said, these men are doing their
work under false pretense. fhey
are pretending to be for the country
and are lying every day and in every
word They are covering themselves
with a cloak of pretended American
ism But II we are competent and Mt
for our liberty we will find them out
and get at them.'' The former Soc
ialist, Charles Edward Russell, who
was one of the Root Mission to Rus
sia, was also most emphatic in his de-
nunciation of pro-GernHknism in this
country. The labor representative OF
the Mission was likewise emphatic on
the necessity for suppression OF trea-
son at home. Here are men In diner
emit walks of life who are undivided
in their loyalty. uncompromising to-
ward traitors mt home. Let us take
heed Of the warning Mr.. Root has
given us, and do our part in exposing
treason and disloyalty wherever we
ana 1t. It is time for all of us to cat.
Each can do his bit at home even II
he cannot go to the front with the
young men OF our Nation who person
ally seek the enemy on the battlefield
While stock trading sentiment has
been rnomentarily affected to small
extent during the week, the underiy-
ing technical of the stock market has
proved it's strength under attack on
unsettling news. The market is pro-
professional and such is subject to-
sudden narrow changes. The Vatican
peace overtures following the Bethle-'
hem Steel financing rumors and price,
liking agitation have furnished the
bears with some ammunition, but It
has not been very effective. There Is
hardly any doubt that the great bank
ing interests Of the country a. 9 ready
to prevent any unsettling tendencies
atpresent on account of the coming
new.Iiberty Loan financing, which re-
uzfres cheerful investment markets
The market is, therefore, expected to
respond better to favorable develop
men<s than to news which Is not look
ed upon as good. Good buying Is re-
ported In the stocks OF reorganied
railroad companies. We find railway
4 equipment issues also taken by careful
investors who realize that those COM
panies are assured Of big business
for a long time to come.
Steel and copper circles are more
hopeful of fair treatment in the mat
ter Of price-axing. The washington
aufhorities are reported to be revis-
ing their figures upward in this con-
nection, due to recognition of the la
Dor scarcity. It is beginning to be bet
ter understood that to have large war
revenues there must first be large war
pro1fa THE liberal and cheerful Gov
srnnienE bp6ifcy mfsht Die should be
good liberal profits to the producer
and manufacturer and then take back
S . good share by taxation. Let them
make the money and then hand II
over for war purposes. Notwithstand-
ing the uncertainties as to price-hx-
ing, United States Steel common
stock continues to be in good demand
on moderate declines. The fact that
1t Is preparing to construct the larg-
est shipbuilding plant In the world
{ IN a factor for investors to consider
It's future lis brighter than at any time
In its history. United States Steel
supplies forty-four per cent. of the
ccuntrys steel output. according to
the American Iron g. Steel Institute
The shipping shares are also more
generally inquired for on evidence OF
large earnings and signs that the sub
{o a
Large orders for copper metal are re-
ported pending. The passing of the
Maxwell Motors dividend is looked
upon a. significant of curtailment Of
luxurzes by the American public.
IT fs expected that the war revenue
piIl win soon be enacted into law. OF
20 II. Kahn. has issued a timely warn
ing against heavy tax on incomes
Saying that the assessment should no
be large enough to halt expansion o.
business A. great war meeting hal
been called by businessmen at Allan
tie City, September IT, and importan
events may take place relating to thu
conduct of the war from an industrial
viewpoint.
The Pope's peace overtures are no
considered in financial circles as hkel!
20 produce any immediate RESULT
looking toward an early endinB on TN
war. The American Congress is to b.
asked 70 vote nine billion more wa
credits, which does not indicate an.
hold up Of an aggressive war. China
entrance into the conflict may provid
a much-needed common labor supply
Neither Elfhu Root nor e. H. Gar!
expect the war to end soon. Allied
bonds would reflect genuine peac
tendencies A large traffic is indicated
for all the railroads of the country
The wheat crop has been taken unde
direct control of the Government
preventing unfavorable speculation
and probably assuding a moderate de
cline in the cost of living, which latte
event would be a. most welcome econ
omic development.
Injured BY Boring