Evening star. [volume] (Washington, D.C.) 1854-1972, 1918-03-10
LATE FINANCIAL NEWS
BY WIRE AND OTHERWISE

NEW YORK, March 9.-We still be-
lieve that those who made purchases
of speculative and mi-specuIative is
sues at the much lower prices of a
few months ago would make no mis-
take in realizing on strong days. There
is little buying power in the market at
present and the rapid approach of the
liberty loan campaign with Tightening
money rates will continue to dlscour-
age new purchases at the present level.
John Moody.
F. b Kooeh-We believe that the
railroad supply companies must con-
tinue TO be actively employed. and now
that the railway bill is about to be
come a law they should be more active.
Haydon Stone & Co.-PracuCally all
the water has been squeezed out and
Baldwin stock is fully covered by
tangible assets. The stockholders may
be temporarily disappointed as to div
bends. but with the present demand for
railroad equipment the prospect Of the
declaration of a big dividend is much
better.
{. C. Morse: The railroad market is
rather in pretty fair Roadway on the
strength Of the important provisions of
the railroad bill.
To my way of thinking there is little
doubt that as the magnitude of this
proposition becomes understood with
it's very wide bearing, the market for
nearly all grades of railroad securities
will be better. Before long people will
begin to figure on an arbitrary income
basis for the various grades of railroad
securities. There certainly should be
an excellent opportunity for profit in
picking out the ones that are far be-
low the basis of real equity which
should be emphasized by the govern
ment guarantee.
| believe the general market will do
much better. always with the fact in
mind that bad news of the war might
give a momentary check.
Moler-The bullish influence of the
actual enactment of the railroad bill
and also the prospective passage of
the war finance corporation bill next
week has not yet been discounted. even
by the local professional trading ele
ment
position on the long side of the market
especially On any fresh Setbacks. still
seem more advisable for moderate
turns than in pressing speculative
sales.
At the same time it must be remem-
bered that the money situation is like
ly to continue TO require delicate hand
ling over the flotation of the GeXt gov
eminent liberty loan. and this fact. to-
gether with the uncertainties of the
war, makes il necessary to still OBJ
serve a cautious policy in operations.
1t is. therefore. not considered in re-
sponsible quarters advisable to take on
or carry more stocks than can be COM
fortablv taken care of through any
sudden unfavorable Developments. es-
pecialIy in the progress of the war.
F. +. P.-There was also good deal
of conjecture on the street as TO why
Reading moved up more than any other
of the railroad stocks. In some quar-
tiers it was insisted that Reading was
in the strongest position than of any
of these issues. because of the small
capitalization. having only $4,000, 900
of common stock, with nearly all Of this
permanently lodged in estates or held
in blocks by other railroads, leaving
only a small floating supply on the
street. hardly enough to provide the
usual trading machinery. Par is even
predicted 1t is said that the short in
terest is large. The old story of the
segregation of its coal holdings and
another story about 3. and Q. selling
it's holdings to Reading were put into
circulation.
New York News Bureau-The position