The Bridgeport times and evening farmer., 1918-10-30
Watson's Weekly
 Letter
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E .=I
 
 The stock market is ref1ecting more aggressive activities on the part of the money committee, which have put a brake on speculative operations. The idea seems to be to curtail speculation on borrowed money in favor of in- vestment, The public is in the market to greater extent than for some time, and promises to be active on a larger scale with tendencies toward peace.
 We think the last reply of Presi- dent Wilson putting the responsibility for a final answer up to the united Allies is placing the matter where it should be finally settled. In other words, a concert of nations that are fighting for the cause of liberty will settle the war right, potH as regards the military and political points of view. It would seem that the Kaiser -has reorganized the German govern ment-not the people. Under no cir cumstances should Germany's former colonies be returned to her." says Foreign Secretary Balfour in London. "The end of the conflict is not yet in sight, but we have entered a phase that assures us we shall enjoy the fruits of victory" Those who realize the solid foundation upon which per manent peace must be based, revive President Wilson's statement to Con gress sometime ago, viz: When this Thing and Its Power are indeed de- feated and the time comes that we can discuss peace-when the German people have spokesmen whose word we can believe and when those spokes- men are ready in the name of their people to accept the common judg- ment of the nations as to what shall | henceforth be the bases of law and of covenant for the life of the world we shall be willing and glad to pay the full price for peace and pay fl ungrudgingIy. We know what that price will be; it will be full, impartial justice"
 With the return of 2,5OO, 900 Ameri. cans, who will be well trained troops even after they have returned to civil | life, Mexico is bound to have a whole. some respect for what the United States may do and say for some time to come. From one point of view | American investments in Mexico are in a safer position than they have been for many years. A policy o1 acquisition of territory is one no likely to be advocated, but if the Mex jeans become as troublesome as the! | were before we entered the war witt Germany the taking over of a fail slice of Mexican territory might ent our difficulties there for all time tC come. The fighting spirit of our me1 will make for aggressiveness in busi ness, and be a factor in the keenel competition to come.
 Oil stocks are receiving more atten ton. We are favorably impressed b! them. Standard Oil of New York ana of New Jersey both have promising futures. One of the so-caIled outsid stocks, Houston Oil is attracting ia vorable comment among large pro ducers. Some of our readers may re member that we called to their atten llOn SOIIl6 lllIl0 dSO VhACICdll CLL U leum when it was selling below par.
 Southern Pacific has had a sharl rise. This railroad security has beer cut of line for long time. Recogni ton is being given not only to it large earning power, but to the bi oil equities owned by it, and also t
 the properties 1t controls in Mexico It is suggested that in other parts o
 the railroad list may be found securi
 ties which have not been selling a their proper market levels.
 The buying of standard railroad is , sues is increasing. Foreign replacs ment of investment holdings con tinues to be a feature. Such stock t as New York Central, Northern Pa cific, Great Northern preferred f Union Pacific, Norfolk te Western an \ Louisville & Nashville have been ia f vored. Their dividends arc locke r upon as strongly protected by earnin : power and equities. St. Paul preferre l stock, in our judgment, is attractiv' /, This railroad expects to have com pleted 66O miles of identification int
 Seattle by July of next year. Thi
 power is supplied by the Montan
 Power Co.,, of whose facilities in thi respect Anaconda Copper also make extensive use. For this reason tn , stock of the Montana Power Co. l being bought for speculative invest ment account.
 The price of copper metal has bee held down. Copper producing con
 panies have no war inflated inventor ieS Stocks of cooper the world owe
 are extremely low. These features ar
 mentioned to explain why investor
 are giving attention to the shares ( l, the leading companies. They ar
 coming to be classed as desirabl a peace securities.