Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1918-11-11
GOSSIP OF The STREET
OPINIONS DIFFER
ON PEACE STOCKS
Some Broker, and Traders See
Bright Outlook for Certain
War issues

cent price movements have. with the .
ing peace. indicated 60 a certain rNtcu.
what stocks the trading public has con
sidcrcd most likely 10 show early benefit .
from AN end OF hostiltics. but opinion
varies greatly among brokers and trad T.
crs as Co whether ur not recent changes /
really show the possibilities Of soiuo .
issues. such as uitcd states Stuui COM /
mon, Bethlehem b." and other steel In
dustrials ana tavorito old companies
which have recently been engaged
largely in war work
Because of the extensive needs for you-
structtvr work there are many Who think
that after business returns tu e peace
basis ihcr" will bc such large require
mrnis that profits will hu coming iu for
many years
In this connection 10 rs interesting To
not" the opinion ON this subject con-.
taiuod in the weekly market review by
tn" brokerage house of chandler Broth
ctS co. Ou this subject that arm
says:
"Tuorv has been th" same irrcgularI'y
iu Nrir" movements the last week as has
prevailed since peace was th, dominant
iHrtor Each succeeding development
looking toward an early cessation of the
war has diminished values in those go
'htii.cs selected as war iSsucs ana In
creased values i'm those stocks that seru.
ed representative " larger opportunities
whom th" gigantic conflict has finally
stopped Fairly judged as war stocks.
although I'm some eases We hClirve it re
mains tp ho proven, are nitcd Sfatc-
steel Republic Iron and steel, Lacka-
wanna steel Bethlehem steel. MidvaIr
steel colorado trIcl, New York Air
/ Brake. American SumatTa Tobacco
'ruglhl" steel and Westinghouse Flee
ifl' while the railroads. coppCrs. motors
equipments, ships. tclcgraphs, public
! utilities ana oils Immediately respond To-
every step forward as peace develops.
/ corn Products was a notably strong foa-
iur". as It reached Ig2.. This maksc
! peculiarly divided market iu which ad-
/ rau""s and declines occur at the same
! tim" during a days trading and for
several days.
Capital Issues committee Ruling
| Richard L. Austin, chairman of the
district capital issues committee ut- js-
/ sued the following statement for the
h"u"nt ur building and loan assocla-
tiOus:
In Wow uf the numerous iuquiri,a
received 10y this committees from build
Ing and loan associations. as TO tho
policy of the committee in respect to th,
issue of new series stock we are uu-
thorIZpd to state that the capital issues
committee Ht Washington has decided
that building ami loan association stock
shall not be- considered as being within
the purpose and scope OF the commit &C..
and that it is therefore unnecessary for
such associations to make Application
10 the committee for permission to issue
new series stock
strength in Bond Market
surprise is expressed in some circles
that the bond market showed such pro-
nounCcd strength at the end of the week
IN the face Of the news that the armistico
signing report had proven false; but 1t
was accepted as indicating that the
. trend of the market ia in the right direc-
ttou. tn" public obviously accepted Tor
granted that the signing of the HrmistIcr
could not be long delayed. and, with the
cessation Of hostilltes, there is bound
To- be II good demand for high grade in
| ycstmcnt issues, as well as others uf
secondary Importance.
Southern Pacific convertible IS are
popular. in sympathy with the movement
In the Company's stock, which was one Of
the strongest issues last week. advauc-
. INK SfNfldl l'lllllNs 4NtN bIk 4 tlltitl
debenture 6s are in good demand. rs arc
also the Rock Island, Chicago and West
cru Indiana and Chesapeake and ONO
bonds.
There is continued buying of foreign
Government issues, particularly tho
Anglo-Freuch IS. which hold. at well
above 90. These bonds have been IN
favor with the investing public for sew
cral weeks past, and much bullish tam
is heard In the trade as 10 the outlooH
for tho future course Of the market IN
them
Liberty Loan bonds are quiet with
prices not materially changed.
short Term Notes Active
Shurt-tcrm notes were active las
week. there being Il fairly good inquiry
although tho aggregate amount OF busi
ness done stil continued smaller thuI
ca many previous occasions in the las
several weeks. Quotations were abou
the suuc There was a good inquiry io'
such issues as Lchigh VALLEY Railroad
IS, Delaware and Hudson 5s. American
Telephone Gs and Union Pacific Gs.
short term railroad notes were anpnI
the nusI popular issues Of this charactc
and II was stated that but few came ol
the market at the prevailing level o
quotations.
There appeared TO be disnciuatioI
10 sell, although there was not an urgon
demand to buy, particularly az long tern
bonds have become So popular recent!
a. to attract widespread interest il
them,
Market opinions
In their review for last week. of mar
kct conditions. Schmidt & Deery say
In the few minutes left for tradnt
after the premature peace rumOr wal
spread broadcast, stocks bounded up
ward rapidly. 1t was an excellent in
dication of what may be expected uu q
broader scale when peace Is definitely
concluded, Investors who have not al
ready taken advantage Of the low prices
should do so at once"
| koontZ & CO. say: United Gas I'm
prOvement and the General Asphalt
stocks are the prc-emnent peace
stocks on the local board, and they
very clearly demonstrated that on the
closing days Of last week. when United
Gas sold up TO u new high for the year
while General Asphalt preferred als1
attained that prestige
"Another local issue. distinctly u
peace stock ia Philadelphia Electric
but very probably its market position
has been affected by the controversy
with Federal officials over the question
OF the Government supplying the money
for necessary extensions to take care of
war requirements.
whatever the result of the uegotia'
/ fi,, Of tY,.fR 1nNt