The Bridgeport times and evening farmer., 1918-12-17
WatSOn's Weekly
 Letter
lIIInnIIIInlIllIlIIllIIIIIIIlIIIIIIIIIIIIIIIl

Over-selling of the stock market in | the past ten days has been followed | by raIlying tendencies, and with the technical condition at the moment re- q. .Dnsive to developments arousing | uneasiness on the part of the bear el- ement, rallies are expected to follow professional attacks on the active list The immediate outlook would seem to favor a trading market, with cross currents and irregularity, and pool at tention for the long side of special ties, notably the flood issues." The oversubscriptions in new offerings of investment securities cannot but be interpreted favorably for the long run, and after the turn of the year a more cheerful atmosphere may appear in the financial district. The part of those active in speculative investment meantime should be to seek buying opportunities in sound, securities dur ing declines in the general market.
 It was supposed by some that Pres ident Wilson had no firm conviction as to the method of handling the rail- road question, but MT. McAdoo now tells us that MT. Wilson agrees with him in the suggestion to leave the railroads under government control E2r GL period of five years Is 1t not also suggestive that continuation of government control and policies for that length of time might make it more easy to indefinitely continue the carriers in the hands of the govern ment? And is not that the end aimed at by the powers-that-be? It seems to us that the agreement on Fthe part of the government to return the ra1l- roads to their owners should be lived up to if contract or agreement is to be one in this country of ours. We trust this does not also mean a con- tinuation of governmental system with its large number of employees covering @ period of presidential elections.
 The process of readjustment from war to peace conditions would be very much facilitated were the Washing ton tax situation disposed of. The nation is not alarmbed at the outlook for a heavy assessment, but the use less delay makes for uncertainty that holds up all lines of business and pre- vents prompt restoration of normal conditions where the economic factors may naturally govern in place of ar tificial restrictions. The sooner the country can dispose of pressing un-
 
 future in finance and commerce. The sounder the readjustment, the strong CT the underpinning for the prosperity that Is expected to appear with the advent of the reconstruction era.
 Conditions in Germany continue to be clouded by propaganda. It may be necessary for the Allies to extend their occupation of the Teutonic ter ritories to preserve order. "The in terest of the Allies lies in the estab- lishment of some form of stable Ger man government which may be held responsible for treaty obligations and especially for the payment of huge iniemnities," say Messrs. Nel- son, Cook & Co.,, in their latest circu- lar. Touching on the Kaiser, they re- mark: Could there be any possible degree of suffering that might be in- fiiced upon the Kaiser which could compare with the throes of damna- ton through which he is passing Death would be too sweet a relief to the man who, speaking to the German people at the declaration of war said: Remember that the German people are the chosen people of God. On me as German Emperor, the Spirit of Goo has descended. I am His weapon, His sword ana Ills VlCe-reSenL. woe T( the disobedient! Death to the COW. ards and unbelievers!' If the Kaiser had not been as much afraid to mee his God as he was to meet his owl people, he would have shot himsel instead of running away. A short pc riod of uncertainty in the stock mar ket is expected, but we fully antici pate that there will be in the nea fi1+,7ra or, oo+iyra m rl-et ment in prices
 Government control of steel will b. removed with the end of the year, ant a natural market may be anticipated probably with lower prices. Judge E H. Gary of the U. s. Steel Corpora ton makes this forecast: q predic that the next five years in this coun try will be the most progressive, pros porous and successful in its history The results will astonish even tn most optimistic of today" A naturs market for copper is expected neX year. Lower prices may make con sumption demand more active. Cor per men meet to take up the situa tion in Washington December 20. Wit the basic metal position readjustet that barometer of trade" will giv us a clearer insight into future bus mess. It is stated that a copper eX port combination will soon be estat lished to protect and promote the il terests of the producers. Fbrmt member of the Federal Resery Board, Paul M. Warburg, predicts ths the United States will be the mo powerful financial nation in u world. Final estimates by the go' 'ernment on 1918 crops show a tot value of s12,6OO, coo, ,OOO---the largest the history of the country.
 The National City Bank, in it's late monthly financial circular, brings O these points: Tt is certain that u | country comes out of the war. in much stronger position than it w before. It has become @ credit ', Sountry; it has increased the capaci of many of its important industrie it has the good will of other nations
 @ higher degree than ever before. T
 opportunities open to it are great than it ever faced before. Livil costs must be recognized as the flu damental factor in the industrial s
 uation. What is needed to meet t situation is a constductive policy. T q crest of the demand for money
 probably past"