The Bridgeport times and evening farmer., 1918-07-17
WatSOn'S Weekly
 Letter
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Professional raiding is genera1y credfted with having been chiefly re- spons5s:sle for the reaononary tenden- cies developing in the stock market during the week. Resistance shown by the standard active list to bearish operations is generally commented upon as rehecting Q strong underpin- ming notwithstanding evidence of profit taking by pools. Bearish ele- ments availed themselves of the talk of resumption of the German drive in France, and also referred to the money flrrnness in Wall street. In re- gard to the latter 1t is reported that the heavy monay drain is about over, and that next week will find easier conditions. Frequent reference has been made in market comment to in dteatbns of good buying of the steel group, equipment issues, and low priced rails.
 We quote a few interesting para graphs from 8 late letter of Nelson, Cook & Co.,, of Baltimore: "The em- ployment of capital and energy in 1n- dustries, trade and commerce can only be secured by the iuducement of profit and income. Fair profits must 
 capital supplied. but for betterments, improvements and extensions. It would be possible, of course, for the Government to commander all prof its and income, or even capital itself. but if 1t did so 1t could only do 1t once, as such asprocess would be as fa- tai to future movements as would be the emptying of the firebox of a. loco motive. You can't collect taxes ex- cept from income. What is most de- sirable and absolutely necessary Is to encourage all business and the profit able employment of capital and to formulate a tax law which, unlike the present ones, shall be fair to all and so simple as to be readily understood" :"
 The above indicates in brief terms pithy points to which ones attention may have been called previously, but if our Senators and Representatives would only include these in their acts of legislation, and our active Secretary of the treasury add them to his recom- mendations Jour great sources of in- come would not be so rapidly en- croached upon and our disbursements might be more carefully watched by
 
 lion dollar reservoirs from being SC quickly drawn down. Easy come, easy go'' is an old but trite saying, and un- less we are to face a most trying fi- nancial condition later on, foresight should go hand in hand with legisla- ton and expenditure now. The Gov ernment Is to be supported at all costs but the method of acquiring income and it's disbursement can afford to be we'll considered.
 After g. long wait the railroad situa' ton promises to be cleared up per haps next week or before the end O the month. Contracts will be revised at a meeting in Washington and VI hope the outcome will be favorable t the carriers. The form of contract al now provided will, if 1t be put into ef- feet, ~assure the payment of all fixet charges, and the carrying out of al contracts entered into prior to Fedora control" Special consideration Is ex pected for the reorganized rails, ant this has attracted speculative attep tion to southwestern and southefl low-priced issues in this department Rumors continue to circulate regard ing segregation of the coal and othe non-transportation properties from tn railroads, and stocks like Reading, Un ion Pacific, St. Paul and Southern Pa ton along these lines
 It is calculated that in the curren year, taking into consideration all tax