Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1918-11-07
HIGHER SECURITY
PRICES EXPECTED
Brokers Believe Stock Bargains
Will End When Peace
Comes

Il tho results of the election had any
effect on the stock market yesterday
answered that they believed 1t had the
effect of sending prices higher but the
result. they claimed, was not very
marked. This was due. in measure, II
was said, to the uncertainty Of the re-
turns.
The money conditions. in New York
especialy are said to be the great
est drawback to a demonstration which,
if not controlled. would result i'll pos
sible wild speculation IN view OF the
news from Europe.
In some quarters in the nnancial us
trict disappointment was expressed over
the announcement that four Berlin truce
delegates were on their way to see
Generalissimo Foch. The feeling pre-
walls that F'och. having brought mat
! tcrs from a very doubtful condition TO
the point where he has almost in his
grasp the most stupendous military VIC
tory the world has ever known, should
be perlnitted to finish the work ana re-
ceive all the honors which are his due.
Of course. It is acknowledged that there
is another side TO this picture, and IL
is generally conceded that in any case
Foch will get the praise and honors any
I how.
duration of the war. but as one banker
pointed out that Germany has only been
given five days to decide We may eN-
| pect the end OF this week Will see the
/ end-and." he added. then what?"
A continuation OF strength in the stoc)i
! market is looked for, particularly in the
peace stocks. Some far-sec'ng bankers
and brokers maintain that the bargain
prices at which most securities can be
bought today will not be repeated for
q long time after peace is declared.
Marine Once More
AT last Il would seem that somethiug
definite N TO happen in connection with
the International Merchant Marine
deal. A wel-known broker who takes
more than q passing interest in the
securities of this corporation called at
tention to meeting which is TO be held
late today by the directors to receive
an offer from British syndicate which
wants TO buy the Marine Company
British ships.
This time p A. S. Franklin says
in q statement which ne gave out that
II. a. Sanderson. chairman of the
British companies. has arrived with par
ticulars OF an offer made by the above
mentioned syndicate for the purchase OF
the British tonnage The meeting to be
held today is to receive a communication
asking the advice of the directors oi
the merchant marine as to the des,ra-
bility of the proposition. This banker
said that he understood il the dea
should go through the proceeds would bt
used by the International Merchant
Marine to purchase from the United
States Government number OF enemy
ships seized during the war Many
brokers give little or no attention &c
statements put out from time to time
about Marines affairs and regard tht
meeting today about as important as
preceding ones.
Public Traction Ownership
There was quite little quiet discus
sion last week in financial circles in tht
city over report which had received
good deal OF publicity. 10 the effec
that members OF the American Electric
Railroad Association, at a recent con
ference, had adopted a resolution nd
vocatlng public ownership of Traction
railroad systems.
The principal of an important bank
ing house that has financed numbe
Of such systems. both in the East an
West. said there had been a misun
derstanding of the facts and that Will
tie uHuGTblOOu lIldl hhtu At
was proposed, II was referred to ont
OF the committees to take such actioI
as they saw At. and evidently the
have seen fit to take no action, at leas
none has been taken up TO the. present
There was however, he re'ifhrked,
resolution passed at that conferenc,
about which more will be heard. II wa
to bring about revision Of the relation
between the public and the utilities com
panies, and TO bring about a substan
tial measure of relief II the railways ar
to continue to serve the public. Tha
resolution was as follows:
rFirst That II is the deliberate judg
ment os this association that. in tn
light of the experience Of the industr
during the war the entire subject G
the relationship between electric raj
way companies and the public shoul
have, now and during the reconstruc
ton period following the war. the mos
earnest consideration OF both the publ
and the companies.
Second. That, among other things,
radical vevision OF electric railwa
local franchises should be made.
the, Industry Is 70 continue 10 r0nds
efficient service 10 the public.
Third, That committee be appointe
by the president of the association
whose duty II shall be to make a stud
of reconstruction problems, particular
$ those relating TO local franchises, an
I report their recommendations at an earl
o date"
: .Bond Houses Satisfied
3 In the bond houses tho election ~
o suits were regarded in the main wit
satisfaction and this. with the favor
able news from Europe. unouestionabl
accounted I'm measure for the improve
E ment of the bond market
There has been a feeling for som
; time past that bond market condition
/ would do better and the gradual at
, vance which has taken place "a reces
xseka ~ preeiicslly ths whole ao'l'