Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1918-11-21
gGOSSIF OF THE STREET
BANKERS FAVOR
SHORT-TERM LOAN
Believe Liberty Issue of Five.
Year Maturity Would
Prove Popular

In the securities market for the last
few days. Notwithstanding this condi-
ton, the stock market remained frm'
and Ii was more active yesterday than
a on Tuesday
The two outstanding features Of yes
tsrdaS's market were the liquidation OF
International Mercantile Marine shares.
referred to in another part OF this col
umn, and the sudden drop in Maxwell
Motor shares due to the passing of the
dividend on the first preferred.
A broker, commenting on the passing
Of the Maxwell motor first preferred
dividend yesterday. (which caused sharp
break IN that company's stock. said he
expected something Of Inc kind to
happen, as the Government had can
celed enormous auto contracts. and he
understood that representatives of the
various companies Affected by these
cancellations had gone TO Washington
to seek some measure of relief from
the Government during the transition
of the business from war 10 a peace
basis, and he said he felt certain they
would be successful.
1t should be borne in nina. he re-
marked. that the first preferred stock
or the Maxwell Motors is cumulative,
and II may be found to the Sntsrest of
the company and of the first preferred
stockholders to discontinue the issue
OF scrip dividend AS suggested till
clearer forecast can be made Of future
conditions
M hp a
the reason for the decline in copper
stocks. unless it is the, feeling of un-
certainty facing the trade. A broker
age concern largely interested in sew
eral copper companies said they antici-
phted q cut in prices at the next price
hxing period. =.
A well-known banker when asked
yesterday how he accounted for the
dullness and lack of snap in the hnan-
cial district recently said It is the re-
action caused by the cessation of war
news. we have been feeding on the
most startling news Of world events.
with crowns and thrones topping.
OF whole nations trying to find
themselves, and now we are so absorbed
in finding our own bearings that every
ordinary conditions seems small and
c3mmonplace as compared with recent
hippeninss," he said.
The principal OF large banking
and investment house was speaking yes
terday Of readjustment III business in
General and said: We must always
keep, in mind that the boys who have
done so noblS in Europe must be pro-
! vided for when they come back. Today
two young men whom we employed at
one time applied for positions We paid
them SIS a week each several months
ago. They were At for the draft. but
were offered $40 week each at Eddy
stone or some similar place and took it.
When they applied today we said NO
These two places are being held for two
soldiers when they return They risked
their lives and everything else for less
E wages than they were formerly paid
you looked only at how much you could
y Snake out of the war and now you can
70 and live on what you have made
There Is some quiet discussion in the
financial district, especially in the in
vestment houses, of the possibility of
new Liberty Loan early next spring.
There are a few who place the time
sooner. With few exceptions short
term issue that is, not longer than
fiye-year maturity. is favored. The rP-
ing Of some well-known short-term is
sues is said to influence bankers and
brokers. and some say the officials III
Washington as well favor such
carity. 1t was said that at Il conference
OF bankers from al! parts of the country
held in Washington the matter was
freely and favorably discussed among
the delegates
Speaking of this bankers conference
a well known banker said yesterday that
( the principal discussion will be as to the
Organization of permanent capital
issues committee. whose functions would
afso embrace the control OF credit TO
corporate borrowers. The results of this
conference will be looked forward to
with a great deal of interest in the
financial district in this city.
Many brokers are of the opinion that
the spectacular unloading of lnterna-
tional Mercantile Marine stocks, which
began as soon as the stock market
opened yesterday, was a mistake on the
part of the holders. OF course. there are
others who can see nothing in Marine
stocks and who assumed the "I-tOld-yOu-
;. 30" position.
& But II remains a fact that many con-
sSrvative bankers and brokers are Still
OF the opinion that the deal will go
through yet. without any hitch. As
proof of their assertions th6y point 10
the fact that the Government would
= never have interfered had the deal for
the British tonnage not been on the point
OF settlement They look upon the pres
ept. suspension of activities as merely
temporary. and at longest TO he delayed
only till the greater part OF the Aneri-
can troops in Europe have been re-
turned here or till the present busy ship