Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1918-12-06
GOSSIP OF THE STREET
MARKET KEEPS
ON "A-WAITING"
RemovaLof Loan Restrictions and
Nomination of Glass Fail as
Stimulants

IL lne TerTONdl oI tIe ItbttlSllohS oh
stock exchange loans by the money
committee in New York after the close
of business on Wednesday had any
effect on the market yesterday. bankers
and brokers here said 1t was not
noticeable. Business in the brokers'
offices was very dull, and many say
they don't look for much activity until
after the holidays.
The nomination of Carter Glass to
succeed Mr.. McAdoo as Secretary of
the Treasury had been already dis
counted, and. as stated in this column
recently, the appointment appears
popular with bankers and financiers
generally 1t Is not expected that any
objections will be raised to his fitness
for the office and his confirmation by
the Senate is looked upon as certain.
A few days ago the stock market
was described by brokers as a waiting
market" because every one was waiting
for what the President would say in
his address before starting for the Peace
Conference In Europe. 1t was still con-
sidered a waiting" market till a sue
cessor would be appointed to succeed
Mr.. McAdoo as Secretary of the Treas
ury. Yesterday, when referring to the
dullness and inactivity of the market. a
banker said he supposed it will continue
waiting" market till a new director
general of railroads Is appointed.
Railroads Future Still Interests
The future of the railroads still con-
hn nf h. ri,n ir,nl anil
for discussion In the financial district,
and there seemed to be almost universal
satisfaction with the conclusions ar
rived at on Wednesday at the meeting
OF railroad executives from all parts of
the country in the Chamber of Com
merce, New York. The meeting was
presided over by 7. De Witt Cuyler. who
Is also chairman of the railway execu-
tive advisory committee. The meeting
declared itself in favor Of returning the
carriers to their owners under a system
Unreasonable responsible and adequate
Government regulation" This is in ac-
cord with the opinions expressed by
leading financiers in this city, as re-
ported from time to time in this coli
umn.
It was brought out at the meeting that
a majority of the standard contracts be-
tween the railroad and the Government
Will be signed before January l next,
before the resignation Of Mr. McAdoo
takes effect, aa It Is expected that all
points of negotiations between the par
ties will he settlAd by that time.
A leading banker in speaking Of the
results Of this railroad executives meet
ing said that the next most important
meter In this connection will be the
appointment Of man of broad gauge
TO Al Mr. Nc Adoo's ros'tior director
general of railroads till the whole cues
tion is finally adjusted. A mistake in
tho appointment. he said. might be dis
astrous to a final settlement which will
he fair and advantageous to all con-
cerned--the owners. the public and the
Government He like many other fnan-
ciars in this city. favored Judge Lovett
II he could be persuaded to accept the
position.
There were few others who would ven-
ture a guess as to the probable ap-
r"'rtae. hw majority were positive
that no one would be appointed who ad-
vnc"ted onfr'oht Government ownership
of the railroads
| A dispatch from Washington yester-
day announced that Judge Robert s.
Lovett would be elected president Of the
Union Pacific Railroad and assume those
duties March l. 1t further stated that
after January l Mr.. Lovett would take
two months rest and resume his ra lroa d
duties as president of the Union Pacific
on March l. In the Street this Is not re =
garded in any way as a bar to his ar
pontment Of director general of rail-