South Bend news-times. (South Bend, Ind.) 1913-1938, 1918-01-06

New 1Ork-A Wall 81. man VINO
has spent months in Washington
and who has been in touch with the
leaders there, says in connection
with the railroad situation that the
Wilson policy favors the payment OF
every reasonable demand Of both
labor aud capital. The president.
he said, wants it understood that
the railroads have been taken over
by the government strictly as a w4r
measure and that nothing what
ever must interfere with the most
efficient engagement Of the roads.
The official family in Washington,
according to the impressions he re-
ceived. would frown on anything
which might be interpreted as TAX
ing an undue advantage of the gov
eminent under government man
agement.
There has been a good deal of
conjecture in speculative circles as
to how extensive a part pool activi
ties are now playing in stock mar
ket operations. 1t has been assert
ed that some OF the pools and syn
dicates which were active in the
January trading a year ago have
been renewed and that a good part
Of the buying in several issues has
been by individual members Of some
of these pools. who disposed Of their
participations early in December on
the expectation that the market
i
and that the renewal of pool agree
ments necessitated the buying back
of many of these stocks.
Some pools. however. were dis
solved before December and the
pool holdings thrown on the mar
ket These stocks included two of
the moderately low priced indus
trials.
Reading has attracted widespread |
interest by its action on the tape Fri
day and Saturday. Just when it has
looked strongest it has reacted most
easily-a performance peculiar with
Reading. Experienced critics Of the
stock market have formed the
opinion that some rather import
ant buying orders have been going
into the stock, and whoever is
handling them is a past master of
the art of accumulation in an &C
tive market.
II is reported in good quarters
that American Zinc and Butte and
Superior received yesterday the first
government orders for spelter since
the United States entered the war.
The stocks concerned Immediately
responded with gains of from one
to over three points, which were
added to today.
Now that Pullman has had a con-
siderable rally from its recent low
levels, bears on this stock have been |
putting out new liens on the the |
DRY that the effect on earnings of !
this company Of further drastic re- |
vision of passenger train schedules |
has not been fully discounted. They |
have much in favor of their opin-
ions, but they evidently have lost |
sight of the fact that with enormous I
demands for railway equipment I
Pullman must be regarded as one I
of the big car builders of the coun-
try.
In going before congress and re- !
affirming what he proposed in his !
proclamation taking over operation 1
of the railroads, Pres't Wilson help /
ed the market for securities. No ;
doubt. now is left that the president /
intends investors i'm railroad securi- ,
ties shall feel that government OPP
Grafton will protect their interests. ]
The average net income for a num- (
Der Of important lines covering the /
three-year period ended June 30. I
1917. shows that the dividend pay /
ing roads will be able 10 maintain (
their regular disbursements.
How much further the guarantees /
viii be carried Will be determined
by congress. but the feeling in the
markets is that the senate and (
the house of representatives will en- /
deavor to carry out the presidents I
wishes, although discussion of vari- (
GUS points is expected.
The bill introduced into the house !,
calling for an appropriation Of
s5OO,OOO,OOO to cover the guaran-
tees proposed by the president was
taken to indicate the general temper 4