The Bridgeport evening farmer. [volume] (Bridgeport, Conn.) 1866-1917, 1917-09-26
'WATSON'S WEEKLY
MARKET LETTER

Lifting of pressure from the money
market during the week relieved the
acute financial strain under which
the market for securities had been
struggling. The result was recovery
in prices and a more stable condition
throughout the active list. 1t will be
neeessarys -fersSthe .powers-that-be to
use 1.-The stock market as stabilizer
with which to carry their bond aero
plane to a successful landing. This
n ono advantage the aret now possesses
A shaking out has been going on for
some time, and stocks should be in
stronger hands, thereby furnishing a
basis from which advances ought to
be easier and more likely. Steel con-
tinpes to be a market lever, and stock
prices were very materially helped on
Thursday by the common sense and
practical views expressed by Mr..
James A. Farrell, President OF the U.
8. Steel Corporation, in an address at
Atlantic City, wherein he showed the
necessity for an immense production
OF steel and the concentration of all
facilities for greater output
DEFINITE improvement In money
.WOQlQ O0 WOiSOAAAo. $4,000
rails continue to be subjected to COM
paratively high interest rates in the
Street Arrangements being made for
tho Notation of the Liberty Loan are
bringing developments in the Sdirec-
ton Of more cheerful atmosphere.
lit IS reported that large orders for
supplies held up on account of the
prtce-fxing delay, will overwhelm the
the producing companies in the next
few months, not only from the United
States Government but from the Allies
and this expenditure of the pdoceeds.
OF war financing is certain to stimulate
I general business to great activity.
The progress of the war shows fur
Their gains by the Allies, and econom-
10 pressure upon the Teutonic nations
to degree that is worrying German
financiers as to the future, The sub
marine campaign seems to be losing
its force steadily for
which we may be grateful as the time
draws near for our soldiers to go
abroad The, Russian condition re-
mains uncertain. but shows some
isisns of Improvement. Little conf
ldence seems to be placed in financial
circles upon peace talk now.
On. October favorable report
b1OulQ DC lx1d46 ny fLAc SOVOA
with regard to the grain crops. A big
harvest total seems toibe assured with
a bumper yield of corn. The granger
roads are certain to be provided with
a great traffic from the crops North,
South and West. Standard securities
representing carriers In those districts
should receive Investment considera-
ition.
President Byram Of the st. Paul is
reported to be making his first work
lin the operating field to rehabilitate
the road and put it's car and locomo-
tive plants in a state of high efficien-
cy. He In understood to have taken
the Presidency with a free hand, and
- expected to apply the effective c.,
II. & Q. methods to the st. Paul.
Improvement L. reported in the
"copper" situation. There Is a better
tone to- the metal market, said to be
due to large orders pending from the
ALLIES. Reports from the strike dis
Itr4cts are more encouraging in some
Ecamps- An Inspiration Copper direc-
tor is quoted as saying there Is no
Likelihood of reduction in dividends
witch talk was evidently brought
about BY circulation of srumors sug-
Egegting practical confiscation of earn
Iings through taxation. These rumors
were, based on q misunderstanding OF
1.-THE war revenue bill, which provides
that, for companies not in operation
An the pre-war period, profits viii be
computed on the basis of the average
yields OF similar concerns in that time
Utah copper-rccovered-f from the de.
preesio on In lam energetic way confir.
lmatory OF reports OF inside absorption
during the general market weakness
A leading authority says: "Enor-
lmous copper requirements are loom
ing up, while IT is simultaneously ap
parent that a temporary curtailmen
of surplus sappears inevitably certain
lowing to.recent shut-downs at severa
mines The volume Of output is re-
istr1cted to a point where shortage o.
metal may develop" In connection
with the metal situation, it is not tt
rbe overlooked that silver has reached
the highest point since 1873 except IL
1880.
4 The price fixed by the government
flor copper metal is higher than wa
GENERALLY anticipated, and It should q
far toward restoring confidence in tn,
copper share list now that the strik,
situation In the camps is improving
and large orders for the metal lont
held back will probably be placed a
once. A satisfactory agreement OF
steel prices IL now expected within
few days, following the Senate com
iInittee hearings on the subject a
Washington.