The Washington herald., 1918-02-06
From the Financial Ticker

There is great deal of skep-
ticism now developing in New
York IN regard to the German will
ingness to discuss peace on account
OF failure to win the war and be-
cause OF internal disturbances. 1t
is argued that Zeppelin raiding and
preparation for a Western drive.
plainly seen would not be going
on in such case.
Those who read of the German
labor demonstrations with high
hopes OF disruption of Germany
from the interior, are apt TO be
sadly disappointed. says a private
banking concern with Teutonic con-
nection Germany SENS to be cul-
tiavting in the outside world an i'm
preston that things are very bad
with her. There is some object in
this. perhaps to arouse the labor
element in the allied countries to
similar action to demand peace on
give and take negotiations. Any
peace of that kind would be a Ger
man peace.
1t is held in experienced market
quarters that the volume of supply
and demand of and for stocks has
had more to do with the recent re-
covery in prices than peace talk
or any other factor except the TAX
ling over of the railroads by the
government.
There has been no big distribu-
tion OF stock on advances for the
very good reason that outside abb
sorption has not been of Importance
up to this time. Professionals seem
to think reactions will not go far
at the present.
In the absence of unsettlinE
news, reactions do not go far and
new buying appears with broaden
ing tendencies New York wires said
yesterday. Bullish operations are
expected to continue along those
lines, during which activity con-
servative purchase on reactions
would seem advisable. We would
not neglect fair profits owing to
the higher price ranges and the
greater vulnerability to profess
sional attack on adverse news.
Specialties are strongly bulled by
pool channels. including the rub
bers, equipments, oil and shipping
shares. The paper stocks are be-
ing recommended in well informed
quarters.
The news from Austria and Ger
many since Saturday plainly indi-
Gates a substance of last weeks
optimistic views for the early de-
yelopment of real peace talk as
both the German and Austrian gov
ernments appear to have checked
the spread of the recent labor
trouble New York traders claim.
1t is doubtful, however, whether
this will be allowed to interfere for
the present with the recent bull
movement in the Industrial stocks
under the load of the specialties so
prominent features of the market
in last weeks trading.
After such a period of bullish
activity with so much of the recent
improvement in prices due entirely
to speculative buying and almost
at the expense of the short inter-
est, recessions in prices are now
due to occur and such reactions
may come least expected, either
from profit taking sales or a sub
sidence of the local and outside
buying. pending more reassuring
developments from Washington on
the domestic situation.
Coppers were firm yesterday. There
has been good buying in the Anacon-
da group. 1t is understood that Ana
conda, which had already large in-
vestments in Inspiration and Greene
Cananea has added to its holdings of
both of these companies. Buying of
Greene-Cananea has been Influenced
also by the expectation Of political
improvement in Mexico.
The recent rise in steel stocks came
in the face of Decentralization of bus
mess In the steel, iron, coke and coal
industries. Wall Street knows all
about this decentralization and knows
that 1t will affect earnings OF steel
companies as already reflected in q
number Of quarterly and monthly re-