Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-30
GOSSIP OF THE STREET
STEEL INDUSTRY FLOODED
WITH INCREASING ORDERS
importance OF Public Utilities Demonstrated in the Temporary
Tying Up Of Stock Exchange Machinery

district Yesterday that while every one
almost feels bullsh, no real bull market
can be expected under money supply
conditions. This was especially the
case when call money was reported from
New York at -. Orc broker said,
however, that in a real bull market even
that rate would not cut so much of n
figure, but, he added, not having a real
bull stock market it has n decided in -
flucncc in holding the market down.
He said that he does not anticipate
money will remain at high levels, and
shortly after the first of the year he
expects it to be normal The market, he
said, has a good undcrtouc, and the fact
that it has stood unmoved under the
recent bear attacks was to him a proof
that the public appreciated the fact
| that securities arc about the cheapest
commodities one can purchase.
Busy Days in Brokers' Offices
The local manager of an investment
and banking concern of national repu-
tation said Saturday last was the bus
lest day he had for long time, al
| though it was only half session.
His greatest difficulty. he said, was
| ir finding the bonds asked for, and scv-
cral of his lines were cleaned out. lie
| said he could not account for it, as the
customers being in n majority of in
| stances large financial institutions, buy
| ing to replace bonds sold to establish
| losses could not be the reason.
He imagined that other bond houses
| had similar experience, as his New
| York branch had reported they also
were unusually busy. The buying, he
said, was remarkably good.
Importance of Public Utilities
The breaking down of powerhousc in
! New York Yesterday morning, and the
consequent confusion in traffic resulting
from a twenty minute delay, was used
MS text by one of the partners ct a
well known banking and Investment
house. which spccializeS in public utility
securities, to preach II sermon on the
stupidity of certain politicians all over
the country who urC opposing any in
crease in fares being granted to save
many of these corporations from bank
ruptcy.
People never appreciate the impor-
Itancc of these utility concerns, especial
ly traction lines. he said, till some
thing happens which causes them in
convenience, then they wake up to the
flct that they have bccu taking many
things for granted. When, as n matter
of fact. they are the result of good man
agcmcnt and special care in the inter
CstS of those who are served.
He applaudcd the action Of II. NJ.
DohCrty in giving the people of Toledo,
Ohio. practical example of the cheap
ness and convenience Of we'll managed
traction system in large city recently,
by Withdrawing all the ears in obedience
10 demand of the people, who thought
they were badly treated. but who speed e.
ily changed their minds When compelled
TO use other means of travel at greatly
increased cost.
This little twenty minute breakdown
in New York. which disorganizcd buSi %
ness for Il time aud interrcrcd with the
regular opening of the stock market,
he said, should teach tho politicians in
New York who are fighting over slight
increase in fares necessary to save tho
lines from bankruptcy, what it would
mean il. through their failure to GRASP
the necessity for the demand. they
should wake up some morning and find
the systems tied up for days with dis
astrous results TO the city and its buSi
moss