The Bridgeport evening farmer., 1917-09-18
WATSON'S WEEKLY
 MARKET LETTER

You cannot accomplish great things without creating decidedly favorable sentiment therefor! To compel the banks to take all the war bonds would be like putting up some of the shut
 ters to your front window, and killing. part of your business. From long time observation, the great American public would much prefer to be led rather than be driven. We are none the less patriotic notwithstanding the fact that we advance positive ideas. We have always been ready-and are today--to do our bit for the country in which we live and have our being, and toward whose support we are prepar- ed to contribute. But when we face real live issues, real live language should be used to express ones views s--not-to the detriment of the Admin istration. but to help and further it's aims and wishes. Constructive criti- cism is-and should be-pern1issable at all times. We want to see the new war loan nberally subscribed for. We helped along the last one to the best of our ability, and shall do so with this one; but we still believe that liberal policy should be pursued es- pecialiy with regard to price-fixing. Let all our, great American industries
 make good profits, and then take them away--or at least a fair part of them. We need co-operation and a. sinking of individual Interest for the common good, whether it be at Wash ington or Niagara Falls 'Be up and at them' and Be up and doing!" These are watchwords for the present. We should be just as. desirous of putting our shoulder to- the wheel and push along the wheels of progress as are the thousands of young and loyal citi- gems who have just donned the khaki uniform. many of whom are already at the front on the other side. Let us encourage them and those immediate ly about us to earnest, strenuous and 1ncessant work for the cause of nber- ty and progress, - ,'Sss.
 VIII not the authorities at Washing ton recognize the fact that there will be material increase in the cost of production of steel and copper and other most important supplies owing to the continuing increase in the cost of labor It seems to us that this is a time for the government to be liberal not only with the great corporations that are necessarysto the; war work of the government, but also that the In- terstate Commerce sCommission--con- trolled by the government= should pursue a more liberal policy than it has in connection with the adminis- tration of the railroads of the coun- try.
 With important financial questions still unsettled. the active investor still finds it advisable to continue to main tain a waiting attitude on the subject of making new ventures in the market Co 1iro ,fc and labor scarcity maq be said, to be two factors now coming out of the cloud of pessismism to provide clearer explanations of the apprehension shown among holders of securities.
 Attention is drawn to the fact that
 as speculation in grain, sugar, cotton, copper and steel has ceased altogeth- CT or is highly restricted, the only out let for its expression is in the security market, and this is taken to meanstha activity is not likely to. be cut down. The speculative clements of the world are concentrated on the New York tStoclx exchange, the only free market. Enemy manipulation in the late. un- settlement has been traced by some of the financial sharps, who explain in this way some of the mysterious ! selling which has been pressed in the investment list unexpectedly at ! times.
 In both the industrial and railroad department prices are now reaching levels which represent figures below their cesh asset totals, and we believe { conservative purchases Justified where such attractions are offered combined with large margins of saftey over di-
 vidend requirements and yields above the 6 per cent time money rates nAw being asked. Tn the standard coppers, | equipments and steels should be found i desirsble purchases of this character, notably U. s. Steel, Westinghouse Electric, Utah Copper, Inspiration Copper and American Smelling. I Southern Pacific, Reading, St. Paul { common and preferred. and New York Central among the railroads seem to s er attractive features