Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1918-10-15
GOSSIP OF THE STREET
MARKET STRONG
In MOST ISSUES
Ashurst's Encouraging Statement
Was Unnecessary to Keep
Stocks in Good Demand

Was Unnecessary to Keep
Stocks in Good Demand
The published interview with Senator
Ashurst, OF Arisona, after his talk with
President Wilson yesterday afternoon
was not needed to strengthen the secur-
ity market, which had been strong from
the opening. but II had It's influence ap-
parently, In a degree. near the close. At
least this was the opinion Of many
bankers and brokers.
Practically the whole list showed
great strength from the opening to the
close. the railroads, oils and peace
stocks generally taking the lead. 1t was
Acknowledged In the bosrdrooms yester-
day that United States steel was GER
tainly acting very much like a peace
stock.
That Germany Is hopelessly beaten In
almost universally Acknowledged, but
that she must be beaten TIL she squeais.
and the possibility OF her ever being
able TO brng that. with the whole world
| against her, her frontiers were never
| pierced and broken. must not be toler-
ated. In the talk Of the Street. Bankers
and brokers are almost unanimous In
demanding unconditional surrender.
There Is not inconsiderabie number
In the financial district who believe the
war In not over yet, nor will II be for a
long time to come. by which Il was
found they meant we may have another
year of II.
Among the questions freely discussed
in the Street yesterday in connection
with the war news was. What would
Germany have demanded from us had
she been the victor?
One weil-known banker. who was at
the front for the Y NJ c. A. for a
time, said. when asked. that such con-
dition was unthinkable. II would rather
bury my wife and Ave children. much as
I love them" he said, than see the
Huns victors IN America"
There was some. difference of opinion
as to whether the stock market yester-
day was a war OF a peace market Many
were In favor OF attributing the rise In
prices to the splendid work Of the Allied
armies under Foch. rather than the
near prospect for peace.
The investment houses are devoting
their time and energies to the nlberty
Loan campaign. Many of them are
woefully shorthandcd through the in
fuenxa epidemic.
"Only the tightness OF money pre-
vents this market from running away"
was the remark OF very conserva-
tive broker yesterday as he surveyed the
rapidly mounting quotations. But"
he said, we can't expect easy money
and plenty OF II. with the Government
calling upon the banks for so much.
I believe that any legitimate business
can get all the money necessary to carry
Il on, hut there is none for the specu-
lator, and under the circumstances It Is
right that there should not be-"
In a discussion yesterday over the
question as to whether railroad securi-
ties are war or peace securities, the ma
jority seemed to place them In the peace
class.
One broker remarked that they were
selling far below their average price
levels OF former years because their dlv'-
dends are nxed at present rates. while
taxes are no heavy az to make fxed In
comes less valuable than formerly. and
! many who had fixed incomes seemed to
favor railroad securities as an invest
ment It should be remembered, he said
that the present conditions are tenn.
porary and that lowering OF taxation
I will come with peace, and on this basis
E alons. II no other, railroad securities
should derive considerable advantage.
Liberty Loan Drive
Next TO the curiosity regarding thu
reply which President Wilson would civ,
to the German reply signed by State
Secretary OF Foreign Affairs Soif. tn,
success OF the Fourth Liberty Loan was
the most important topic OF discussion ir
, the financial district today
/. As to the frst. the prevailing senti
- tA1 ~
' words Trust Wilson," and as to tn,
second there were a variety of views
from a fear that the combination Of thu
influenza epidemic and indifference,
brought about by the apparent nearnes.
of peace would have a serious effect CT
J. the final figures to feeling Of optim
ism that this country has never ye
failed In any great matter which II un
!, dertook. and that the loan will be over
a subscribed when the closing gong OF thu
7. campaign Is sounded.
A banker who expressed his doubt.
r about the flling OF the quota Of th'
Philadelphia Federal Reserve Distric
4 said yesterday that people should real
ixe that even were peace" declared to
morrow our experience Of the past. wher
,, the most expensive year OF the Clvi
. War period was the year after thu
war ceased. should spur every citisen t.
subscribe for the last cent he can raise
with 100000 In Europe who mus
be well provided for In every way" h
said, with large contracts out for wal
material and our determination to keeI
u on sending 10000 more men each day
tiil the Allies get the kind Of peace the,
want, needs money. and We can't borrow
II from anywhere except our own peo'
pie. IT," he concluded, people coult
,, only be convinced that Liberty Bonds ar.
~ std Es