The Bridgeport times and evening farmer., 1919-04-22
[. |. WATSON'S
 WEEKLY LETTER

Confidence in the stability of the general stock market situation con tinues. Industriais have supplied the main buIhsh activity, and may still do so- With so many uncertainties alive in the financial world---upon which speculative activity thrives--- the outlook does not indicate any pro lOnged duIlness. In view of the Eas- ter holidays and the Victory Loan campaign, which begins Monday, it is natural for the markets to slow down and become narrower than they have been But the underlying situation remains strong, and Fundamentals are constructive
 The importance of the United States grain crop outlook can hardly be un- derestimate4d when we consider the fact that other parts of the world are short of cereals and some places are famine-stricken- The prospect at this time promises a grain yield in this country during 1919 the value of which, partly basedNOn the high price for wheat guaranteed by the govern ment, Is calculated at not less than ten billion dollars. That distribution of so large an amount of money is certain to make itself favorably felt in the channels of trade goes without saying. The purchasing power of the already rich farming communities will be further enhanced. It is estimated 1 that the number of persons now en- gagged in agricultural pursuits in the United States is above 13, ,OOO 900. Their wants must be felt in the fall busi- ness of the cities
 Warning that the situation contin- ues full of danger, Premier Lloyd George of England delivered a. nota-
 
 ment during the week defending the work of the Peace Conference. In pointing out fthe magnftutde of the problems, their coInpIexity and gray 1 1ty, he said the time consumed by the loonferees in reaching decisions was not unreasonable. His statements as to Bolshevis1n being on the wane are reasSuring. While Germans are ex- pected to make a great outcry against | the peace terms, it is believed that 1 their Government delegation invited to Paris the latter part of this month | will sign without undue delay. Pre- dicttOns are now made that the peace treaty will be signed and submitted for ratification come time next month. l Victory Loan terms and conditions just announced meet the approval of the banking and business world, which ] has been greatly surprised by the to- tai of four and one-half billion ex- pectadOns having been entertained that the amount would be greater. The interest rates provided for poor and rich are considered fairly satis- factory, and predictions are made that oversubscTiptton will take place. Should such a development occur, it would be taken as a favorable omen for the investment community and lV71e T1lr r,5a
 be met without difficulty where sound | institutions are concerned. Judging from the atmosphere of the Street. oVersubscriptiOn would be considered a 'bullish argument on stock prices. Westinghouse Electric, to which we last week directed favorable con- ment, has been strong and active.
 ms company is in a. good financial and physical position. The dividend
 rate provides a substantial yield The prospect for business is said to be ex- lcelent- The terms of the company's
 sale of the British subsidiary are un-
 derstood to have been very satisfac- tory. Shipping shares have been ac-
 tive and in good demand. American
 1nternatiOnars call for new capital is
 said to be for the purpose of acquir-
 ing new shipping interests Runors nave been current of deals of inpor-
 tance in the oil world, and the stocks
 of oil companies have been strong ir consequence. There is a persistent demand for the stocks of companies which produce or put food products on the market. Copper shares have . been quiet, but there is a. good de. mand for the stocks of the Soutt
 American companies, Cerro de Pascc
 and Chile Copper. Experts estimate
 that the cost of Cerro's copper should
 not average more than nine cents a
 pound.