Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1918-09-21

There is no particular fcatul" III the
Ntfock market today" said the manage
lbfs zone of the largest brokerage houses
IN the city yesterday just before the
4 lose.
Everything looks fine, prices are
firm. but they won't let the market go
hip and they won't let it go down so
fllere you are :"
The war news seems 10 have little o.
- effect on the prices Of securities, ex-
fSrept to keep them firm. for. as one
& hroker remarked yesterday, if We were
bearing of reVerses TO the Allies, such
rs the Germans are now having, there
would be a different story on The stock
{ market.
Every one in the financial district
eeefns resigned to a season of positive
tnaction till the Liberty Loan campaign
y out of the way.
"when this wal is over remarked a
eowntown Investment banker yesterday,
s'rfe business which will be done with
hanks, trust companies and financial
Institutions will be something enormous.
They will be relieved of all this Govern
ment financing, or at least almost all or
II. and will he in the market for high
fiass bonds of every description.
There was no surprise expressed that
seat on the New York Stock Exchange
was sold for $50. 00o-$2000 below the
Last sale. Some said that with condl-
ff6ns as they are at present the sur
prise would be of it had brought more.
One of the principal topics discussed
Am the Street yesterday was the con-
fsteuce of steel men in Washington,
hooking for higher prices. Not one
49, = .IlN 4l7Asln
&culd be any increase in steel prices
present: in fact. some were Of the
kpinion that il the administration made
INV change it would be tn lower them.
Ii seems 10 be the universal opinion that
III steel companies, both big and little,
tere making money.
The statement by John L. RoNensky.
D ice president of the National Bank Of
tomnerce of New York. before the
National Institute of Banking conven-
lion in Denver, that the United states
krould be a creditor nation 70 the eN-
lent of 50, 900, 900, 600 should the war
n Ind in a wear. was considered interesting
b. bankers, but so much depends on the
tate of the wars termination as well
Is other matters of Importance that
kresent figures do not count for much.
Marine in spotlight
The international Mercantile Marine is
tgain in the spotlight. this time as the
result of a remark said to have beer
* 11oEped by = director of the concern
I Alhen denying a report that the deal for
The sale of the ships Of British register
: Mad been finally consummated. 4 broker
BIZ This city, who is closely in ioucl
&ith international Mercantile Marine
matters on his return from New York
yesterday. said that the greatest oh
3}facle. in fact, the obstacle against com
3 Eoietion of the deal. was the enormous
ttar-proft tax which would have TO bs
paid If the company sold its Britisl
4 s3hips. An effort to induce the Britisl
6overnment TO make some concession
that respect is to be made by Hsrol
Z. Sanderson. chairman Of the board
sho recently left New York and is nov
srobahly in London. Upon his success
Ihe accomplishment or failure of III
Zeal depends.
have said before. and | repeat tina
fbe Sinking Fund 6s of the corporat!o
are a better barometer Of the success
srs failure of the deal thar the preferre,
stock, When there is an unusual de
at higher figures for these S.nkin
FUND bonds. it will be fairly good ev.
Hence that the insiders have ha
some news"
After the War-Wh hat:
an the financial district OCCASIONAL
pene one brings up the question, "Wha
Hill happen after the war;" Naturall
there are almost as many opinions a
Qthere are persons involved. At preseI
~nsany financial men are favorably dis
kussing an interview on the subject /
Eorbes's Magazine of July 81 wit
f,harles II. Sabin, president of the Guar
hnty Trust Company, of New Yorl
npder the title OF "a Fairer pivisio
- t:onp7ne. Among other things. NJ
ttS6bin says:
ssIn any period Of change or rsadjus'
k,nt new opportunities always arts
Ia when the whole social, political an
uaomic system of the country, and,
~ &St4 Of the world. is radically alteTe1
A I5,&<e are bound to he many opening
rklch men OF vision and courage ca
/aHe~ advantage of.
<rrhe old order Of things is past. az
~ thp new order new men ana re
c<,~r will come TO the top u Is Ii
q wise forethought for all of
trv and figure out What this ne
will be and TO win places in
4 new game which we mus mas:e
sA exery man who loves sport, Nr =
ambition for achievement. or ser
2s{fher, for that matter, can ind I
k<eat Interest in IT,"
I<x.tL -----ro~Ur nrTnUr ArInNS