South Bend news-times. (South Bend, Ind.) 1913-1938, 1917-03-04
ADMISSION OF GERMAN
PLOT S0LIDIFIES u. S.

STOCK-The admissions Of the
truth Of the charge made by our
president Of intrigues on the Ameri-
can continent will have the effect
Of soiidifying American sentiment, /
and destroying the last vestige Of
influential opposition 10 the admin
istration in congress. The action
OF our market indicates that the
country in accepting the views
which we have expressed from day
10 day, and will now be followed
by revival in the investment field.
There has been no doubt as 20 the
merit of our leading securities.
Prices have been at a level far be-
low that justified by earnings. divi-
bends and accumulated profits. The
public has held off because OF the
uncertainty. With the atmosphere
clearer, they should lose no time in
embracing the opportunity Of pur-
chasing standard stocks while at
the existing low level Copper.
metal and steel products continue
TO commend substantially the high
est price attained, and at the pres
ent rate of earnings Of the various
companies engaged in these lines.
il would seem to make a sure
foundation for long continued.
handsome dividends II is esti-
mated that the supreme court may
announce its decision on Monday
as 10 the constitutionality of the
Adamson law. The roads are now
sufficiently burdened with high
charges and the only fair treatment
will be an increase in freight rates
before burdening them with addi-
tional expense. We continue op-
timistic and favor the purchase of
standard stocks on all declines.
COTTON-Cotton continues its
advance. accompanied by a demand
from trade interests who have been
consistent buyers for a considera bic
period, and who are. in fact the
owners of the bulk of existing con-
tracts, the public having refrained
from extensive operations. The
more recent strength is no doubt TO
the better feeling prevailing in this
country and the confidence that our
exports will continue and be pro-
tected by the American govern
ment. While there is much merit
and we believe in ultimately higher
prices, we feel that the recent ad-
vance has eliminated the short in
terest leaving il in a technically
poorer condition than il has been.
and would therefore await reactions
TO make purchases.
WHEAT-Saturday grain mar
ket was substantial proof Of public
realization of existing conditions. If
signs are read correctly experiences
Saturday will be looked upon as a
side show" in comparison with
what we have ahead of us. Man
ipulatiOn is not in any way respOn-
sible for present prices The old
law of supply and demand is in con-
troll. When the new crops Of
everything consumed by our human
population are available, supplies
of all kinds are likely TO be nearer
complete exhaustion than at any
time within the memory OF any
body in the trade. Those who are
banking on a crop OF winter wheat
in keeping with the acreage under
cultivation will be sadly disappoint-
ed. The crop has never been
thrifty has had a bad winter and
throughout the southwest there is a
serious deficiency Of moisture. With
anything like favorable conditions
from now. We have chance for a
good sized crop but not a bumper
one. Natural reactions are in or
der from time to time, but if Satur-
days action is anything 10 judge by
grains are headed higher
CORN-Investment demand was
again seen in corn on a rather lib
eral scale. Volume of trade not as
large as yesterday. There was con-
siderable realizing early but to-
wards the last a reinstatement of
holdings appeared. Car situation is
as bad as at any time but none the