The Bridgeport times and evening farmer., 1918-07-03
WatSOn's
Weekly
Letter
ACKNOWLEDGEMENTS

The market for securities continues
to give a good account of itself. De-
clines occur but seem to meet buying
orders. Advances have been chiefly
along speciality lines, and market OF
special bullish activity appears to be
Indicated for a time. Underlying the
whole situation is growing confidence
as to the progress of the war, and
while the outlook for new billions of
War Loans is somewhat staggering,
we all realize that II Liberty is high
still we must have it. Briefly, the
stock market Is rejecting an under
lying sentiment that is convinced of
the outcome of the great struggle and
is encouraged by latest developments
to invest further nj the future of Am
erica by purchasing attractive securi-
ties. When we compare our pres
ent sound position with the financial
conditions existing during the Civil
War our strength today is striking and
very gratifying. The results Of the
Third Liberty Loan, with its 1900
900 subscribers, is proof Of a good
market for Government bonds. Our
kOlu IG6GTNo COllNtf VI IIlOl LllSAlA q
third Of the worlds total amount OF
gold coin and bullion, which backs Ut
the Federal Reserve System, now rec
ognized as one of the best banking sys-
TENS in existence. Further, we are
investing in sources of future revenue
and Strengthening our sound economic
position. Dangerous Initiation of the
civil war is securely guarded against
We have much for which to be thank
full in this respect. Finance was wei
prepared for war whatever the statu:
of the rest of Industrial America.
Predictions are being made that {
great speculation is coming in GOLD
mining shares. Agitation is noted t.
increase the production of this stand
ard metal. It is asserted that larg'
as Americas gold reserves are, the!
should be added TO, II possible, in or
der to support a credit structure who's
size Is unprecedented. The Score
tary of the Treasury urges that Their
be no relaxation in the effort to min
gold. A good deal of the huying o.
securities in the last few days ha
been based upon the expectation o
generally higher prices to be allow
ed en- various commodities on &C
count Of the advances provided IL
freight transportation rates and wa
ges. Demands for higher cope
metal prices are expected to grow
from now on. Consumption is larg
and increasing. Active investors ar
giving special attention to the attrac
tons Of railroad stocks like Reading
St. Paul, Union Pacific, Southern Pa
cific, Lehigh Valley and Pittsburgh (
West Virginia on account of persis
tent reports that Washington is NOV
ing for separation of assets from tn
railroad companies. 1t is well-know
that Reading equities are enormousl
valuable. st. PauTs timber and mir
eral land equities have been rated 6
more than S60,O00,000. Union Pa
cific has holdings or investments sal
to be worth more htan 100000, 00'
Special distributions to stockholdel
would naturally be expected to folio
segregation. There Is at times a re
markable scarcity Of offerings Of raj
road stocks.
While OBSERVATION-DISCLOSURES sent
ment in conservative quarters is OF
timistic It is felt that until investor
are disposed to draw on credit to bu
o broad movement upward from GU,
rent levels is not likely in the stoc
market. Discussion of the wholesa
destruction of material wealth by IL
war has caused dismay among SON