The Bridgeport times and evening farmer., 1918-10-15
WatSOn's Weekly
 Letter
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The money market continues snug. It still has a tendency to check spec ulation. Investment buying, how ever, is in evidence. Investors dis play a growing confidence in the ap- proach of peace. The market as a whole seems to be discounting the end of the war. It generally looks ahead six months to a year. The establishments taking place naturally make for cross-currents and irregu- larity in prices. It is difficult, under the circumstances, to accurately fore cast movements. Professionals are wary of making large commitments on either side, and confine their oper- ations to specialties.
 Progress continues to be made by the Allied nations. It is this steady push forward that. has evidently alarmed the Teutonic Nations, which are apparently dismayed over the Bulgarian surrender. President Will sons call upon the Imperial German Chancellor to show good faith if Germany really desires peace, meets with approval. J. P. Morgan believes
 
 sentiment of the American people. Some of us would prefer to adjourn diplomacy for the present and let arms force unconditional surrender But let us hope that the German peo- pie will come to their senses and take charge of the government of that Empire. We believe that such action would bring speedy peace, for evidence continues to multiply to the effect that the Teutonic peoples are already ready to pay any price for peace.
 Authorities differ with regard to peace and war stocks. Some of them hold that the farm machinery issues, rails, fertilizer securities, public utili- ties, coppers and railway equipment companies are to be classed as peace stocks, while most of the other lead | ing activities have had so much war business as to put them in the war | class There are so many factors, | however, which must be- carefully weighed, that it will be wise to be very cautious in making speculative commitments in this respect Read justments are complicated, and make for uncertainties that cannot at this time be "unscrambled."
 Progress is being made in the new war taxation mea sures, but there is , tendency to go slow because of the Liberty Loan Campaign. It Is be- | lieved that expansion in this connec- 1 ton will result in additional heavy | levies on corporations, which are al- ready "doing their bit" but rather will consumption have to bear greater l burdens. It depends to considera- ble extent on the response to the Lib- erty Bond offering. If there is an en- | thusiastic subscription, it will be in- l terpreted as meaning that the war 1 can be satisfactorily financed by bond issues in larger part.
 A factor already presenting itself | for speculative-in e-investment considera- ton are preparations for peace by i business. Many believe that Wash | ington has neglected this important | consideration, and that the country will find itself as unready for peace as it was for war. Financial inter- ests have for some time been puttins | their houses in order to take ad- vantage of the end of the war Finance will be prepared for peace l just as it was for war. Let us hops that the government will soon become alive to the necessity for aggressive action in this respect. The advent of peace will find the keenest com mercial competition the world has ever seen.
 Saturday being a hoiday-Colum-
 bus Day and Liberty Day-this letter was printed on Friday. We hope
 everybody young and old, rich ant
 poor, tall and short, fat and thin, vii
 all join in buying Liberty Bonds fol
 their own benefit as well as for the
 "boys over there" The new issue has | aptly been termed "The Fighting ] Fourth" that will force an early
 peace, and should be heavily over
 subscribed The blows on the shel
 of Germany already ring hollow. May
 they soon crash through,