Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1918-11-02
|yIP Of the STREET
kISE ANTICIPATED
IN STOCK MARKET
onservative Houses Advise Buy.
1ng on Recessions, Expecting
standard" Advance

Conservative houses were advising
eAeir customers yesterday to buy stocks
un recessions. as they anticipated higher
4 pfices. shortly in the standard issues,
Z In reply to a question. n broker said he
Soubted II the war news had any great
meet on the market as yet That Is.
( - explained. the investing and specu-
4tins public have not as yet come to
my very definite conclusion as to what
W9li be war and what peace stocks in
the Reconstruction period which will fol-
low peace negotiations Tho unknown
quantity in this regard is TO what ex-
tent the physically ruined parts of Flu
rope will call on the United States for
the necessary material TO rebuild and
replace.
He called attention to the fact that.
shortly after the war began. when
every one thought it would not last more
than two years, commissions had been
sent here from France and Russia TO
4 Inquire as to what extent the United
states could be drawn upon for modern
machinery and other material. both raw
and finished. and he said, as these com
missions were composed OF exceedingly
responsible men with the necessary ere
dentials from the Governments, un-
doubtedly their reports will be acted
upon, and from these sources alone he
said he expected large orders as soon
as the war is declared finished It must
be remembered, he said. that with Ger
many eliminated as competitor, and
with Great Britain the only other pos
sible competitor. having quite enough
10 do to straighen out her own affairs,
he looked for an enormous demand IN
almost every line for these two coun-
tries from the United States. And he
added unlike our pre-war handicap. we
svill be in a position to carry our own
goods I'm our own ships.
Crucibie steel Disappoints
There was some d appointment in
certain quarters that Crucible Steel did
not make a better showing on the
strength of its report, which shows a
surplus in the last year. after charges.
war taxes and preferred dividends. equal
to $4S24 share on the common stock,
as against $lS.S3 in the previous year.
Rails and coppers showed consider
able strength before the close yesterday.
while stees and equpments declined.
with the one exception of Crucible
City Bonds Advertised in New York
Attention was again called through
advertisements in New York papers to
the $1,000 900 City of Phila delphia 4s
loan to run for thirty years in reg
istered and coupon bonds. due November
I. 194S. Sealed proposals will be re-
ceived at the Mayors Office. city Hall.
until Monday. November is. at noon.
Favorable comment was heard in bond
market circles over the new high rec
ord of dealings for any month in the
history of the stock exchange which
was established in October. Total bond
sales on the board for that month ag-
Eregated $233,9S4.500 as against s216,-
s53.50O in the previous best monthly
total made in November. 1904. There
was. of course. q liberal amount of the
total volume transacted in the United
States Government issues. although cor
poration securities extended to $56,936,-
900 compared with s2c,l36,500 in Sep
tember and s32 2,927,5o0 in January of
this year.
There has been a pronounced advance
In bond-market quotations ever since
the European war situation became the
more favorable, and the present level
OF quotations represents big advances
ever a few months ago.
Liberty Loan bonds were active with
comparatively small changes in quota
i, tions from Thursdays final levels. The
3iss held at close to par, while the a S
were slightly above 81.
It was stated today in bond circles
that there has been fairly good buying
Of the International Mercantile Marine
sinking fund per cent bonds during
: the last week, with the result that quo
tations are now slightly above those
s obtaining on Saturday last. American
Telephone and Telegraph convertible IS
were quoted at from 39% 10 lyo, with n
fairly liberal turnover