The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1918-01-18
FINANCIAL COMMENT
(rrivn:r Wire to Finance Coz

NEW YORK. Jan. li.--Thc Financia!
News bulletin says: Radical fuel holi-
day drvcln 9rrnts suggest temporary
speculative investment unsettlcmcnt and
hcarish Tendencies in the stock market
hrcausr Of the sensational spectacle OF
temporary Industrial proStratiUn III the
c1St. \ selling movement Is not rN-
pertcd 10 go TAR witnou; meeting bank
support with Washington standing be-
hind t. prevent unlcSirahl: d"moraIizA-
zion. HrukcraSc loans being low and the
speculative long account small the
chief selling orders may hc from th'
bear element and uneasy investors wh"
survived the Inst unS"t;lctCnl-~ anH
there are not maay OF these. New COM
mitm"ntS ought tn be cautiously nGtde
until the money market finds itself.
AZ We interpret the Washington situa-
tiott, il Is unti-inlusi-ial and pr"-rnil. II
there can be IL distinction for some rail
rca,i relief is c"rinin.
hallway steel springs IS receiving IA
vor1hlc attention from shrewd sprCuia-
tive investment interests. based on the
fact that it Is an essential railway
equipment Issue" according IN our inf"r-
nation. hallway circles seem 10 think
that is future Is brighter than at any
time In the pas, because. 1t. like Other
companies supplying the rails. VIII b.
provided with ample credit by the GOV
ernment So long as the lines remain un-
der national control. Its products arc
wearing out faster than at any time In
the history OF the company because or
the strenuous use to which they are l"-
ing put. There has been buying al nm
exceptionally well Informed character
recently and according to floor gossip.
:hcrc is Int little real stock oGfcr!uI
near current levels.
Tcchnrai conditions n the general
stock market show Improvement. The
bcttcrment is substantial II is reflect
ed in private borrowing channels Tho
lending OF stocks IS materially larger.
It embraces more than mere profession
nj activities. The outside element has
he Gil educated - sell short. and II does
not hesitate 10 put ont hear commit
mcnts upon Developments az adverse ma
ture. y good deal of tn" gossip heard
liz brokerage c!rtt.s now confirms tni$.
and supports the assertion that scnu-
ment Is gradually suggestive OF enlarge
mcnt OF miSc"lnn"u"s shortage. The
general floor trading element Is against
the MARKET ~ I rule !nr ;lIn present be
cause Of the absence Of new hul!tSh am
nuNitlpl .lnu Inc success ~ lnc TfdI-
tiunists In the past few days. lnveSti-
cations as Ia the msrEinal or spccula;
i've holdings suggest tnRt they have
bee frightened out Ivy the failure OF III"
recent strong peace talk Ia b" followed
hy definite tcudrncirS toward IN early
end Of the war; 1t may be safely said
thut The most Of this peace long Interest
has sold out. The general market
Therefore would seem 10 he in better
technical conditions and with the Liberty
loan payment out Of the way. rallies are
expected L. make their appearance
, along Irregular lines. Whether or not
they hold will depend upon the nature
OF the n"ws according 10 inc best yudS
es in the street. rh" terms OF tho next
United States war loan vii! nave Xrca.
deal To do with this. Eut ut tho mo-
ment, Technical conditions MAJ be said
to be shaping themselves against re-
spoons ivcrrss to bcarISh activities to tho
dcurc. heretofore seen. Of course. barr
Ing SOM radically uufavorablc d"rcl-
"rmcnt.
"ScnSal IonaEy unfRvurahlc interna-
icual news" IS repeatedly hntcd II; in
high diplnnutic channels. II Will great
Is hasten renrG according ~ the reports
quoted.
ltumnrS are current that tn" labor e!-
cn"nts the world over, through under
ground th;IurlS. are undermining Tcu-
tonic military strength by Il secret prop
aganda initiated by American and Rus
sian interests.