The Bridgeport times and evening farmer., 1918-06-25
WatSOn'S Weekly
 Letter
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1 Present indications would seem to favor gradual improvement in the stock market. There is a disposition to anticipate leadership by special stocks whose positions deserve partic- ular consideration. Railway and ag- ricultural equipment issues are get ting many friends on account of their large earnings and good prospects, 1 With a. settlement of the railroad con- tract situation, that department is ex- pected to display bullish activity | Conservative purchases on reactions are justified by the technical situation and present developments. Imitation is gradually making itself | felt in the market for securities. As ! pioneers in the expressed conviction some months ago that enormous war expenditures would ultimately spread from commodities to the stock market, we are gratified to observe multi plying evidence of the accuracy of our prophecy, and see no reason to change the view that the workings of this great fundamental operation will make TOT uISIfeT lGN GlS SllOuAu bAO "e@A go on.
 Stimulated by the drives for sub scriptions to Liberty Loans, specula- tive sentiment has been aroused where hitherto 1t lay dormant, and many new investors have been taught the value of good securities. It is esti- mated that 15,000,0O0 people have been added to the investment field. It is safe to predict that the American speculative investment community henceforth will be larger than ever before in the history of Nation, and that this will make for greater activ- ity in the stock market is foregone conclusion. It is expected that low priced securities will be attractive to the newcomer because precedent has generally found him buying this class more freely Vigilance of the Fede- ral and State authorities has restrict ed fraudulent offerings of wildcats, and educational methods have shown that the most reliable place for the employment of peculative-investmen funds fs-in New York Stock Exchange securities.
 Reports of peace demonstrations in the Teutonic Empires are persistent ly coming out of those countries, to- gether with rumors of popular un- settlement in Austria in the direction of Russia's Bolshevisn, and Socialist charges that Germany has uselessly sacrificed half a million men since the beginning of the March drive in the western field. There are intimations from German sources of the downfall of the Russian Bolsheviki Premier Le- nine, and sentiment seems to be grow ing stronger in favor of Allied inter vention through Siberia with Japan's aid. The efforts of the German troops to break through the western front ep- pear to be checked, and the Austrian attacks on the Italian forces are ap- parently meeting like results. Amer ican troops are pouring into France re- inforcing the French and British to a degree that would seem to make se- cure their defences. Within a req sonable time it is expected that Com mander-in- chief Foch will lead a gi- gantic offensive by the Allies that vii overwhelm the German troops, whose morale is reported to be impaired by repeated failures to achieve objec- tives War news, in brief, may be said 
 that, barring occasional reverses, thu underlying trend in this direction should continue as at present.
 Persistent rumors are circulating suggesting separation of coal proper ties from railroads in the case O Reading, Pittsburg & West Virgini; and other "coalers." Advices iron Washington indicate saner taxation program than was at first suggested and if a scientific handling of the mat ter can be had fair treatment may b expected. good deal of pressure i being brought to bear for higher ike prices, and we anticipate more hbera action in this respect, owing to tn rising costs-which is phase of tn imitation now being experienced. Max imum production is essential to vic tory.
 Communications coming from Brit ish financial interests are referring { a strong conviction spreading anon British labor that the former policy antagonism toward capital should l abandoned for cooperation after Il war. We all hope that such COT dition will appeal to American labo Locomotive stocks are being bougl on the outlook for several years big business ahead. It is said the1 is no danger of a famine in automobi tires unless there is a rush to stock | for the reason that the supply on ha1 will last until Winter and there W then be received in this country a other big importation of crude rubbe Inspiration Copper and Anaconda a
 being quietly bought for sourc whoch confidently anticipate high
 price for the metal in the near f
 ture.
 The principles underlying the pre-
 ent war savings campaign are of t
 greatest importance from the stan
 point of bringing to all citizens
 sense of Individual economic respon bility, and the pledging of regul
 contributions to this fund is not or
 a patriotic duty but a movement tt
 will be permanently helpful to fofN