The Bridgeport times and evening farmer., 1919-04-29
Finance, Real Estate and ITnSuranC

IT. Commodities, wages and credit have undergone a high degree of in flation, while securities have almost entirely. escaped. This disparity will somehow have to be adjusted, either by defiation at one end or imitation at the other; or possibly through both until a more normal balance is reached. Imitation of securities was of course prevented by monetary re strictions; also by the extraordinary uncertainties attending all profits whether of railroads, industriaIs or
 public utilities. War profits were never really reflected in market val ues. The outlook, however, now is that the railroads will do better; that many of the industriaIs will make larger earnings, and that even pub lie utilities have Q, better chance of fair play.
 l. IS. The mania for government
 ownership is at 0 lower ebb than at any time since it's birth. Through costly experience, also by deteriora- ton in service of railroads, steam
 ships, telegraphs and telephones the country has gained lessons of ines timable value in socialistic theories. Heavy as have been the losses thus incurred, they have probably saved us from far more serious COnse-
 quences had these properties been
 permanently taken over by the gov ernment-
 19. Our security, money and for eign exchange markets, have been all
 most completely restored to natural freedom by removal of artificial war restrictions. This affords more free dom and safety for personal judgment than was possible when transactions were subject to the prejudices of in-
 experienced or incompetent public off cials.
 20. The new Congress should be brought to realize that government extravagance and unnecessary expen-
 ditures must stop. The whole world
 must and will economize for some years to come before it can fill the vacuum of ordinary necessities, of
 which this country is the only nation
 possessing a surplus Herein lies much of our present great good for | tune.
 Reasons for Discrimination Such fin brief are the elements upon which the present advance in I'the stock market is based. Naturally l confidence is widespread, and among
 business men generally there is 9. be- | lief that the country is facing 9. period 1 of prosperity lasting one if not two l seasons. There is danger of optimism | running to injurious extremes after such a long period of rigid repres- ! sion, but there is no immediate pros- l pect of such development. As a rule
 stocks are firmly held and there is no l general disposition to let go at pres | ent prices. There is probability of i increasing speculative activity, which
 means more liberal profit taking and 1 sharp reactions following unfavora- 1 bIe news. Such symptoms have al- 1 ready developed in a few Of the in 1 dustrials which advanced most rap l idly. and buying has partially shifted l to hitherto neglected issues, includ- l ing the railroads which thus far have | shared slightly in the general i'm l provement. Bonds with their fixed
 returns and facing stiff rates for | money. have received relatively little | attention in comparison with stocks l that promise increased returns. Monetary Outlook.
 l The money market is firm and will | bear close watching, since the banks may at any time see fit to curb ex-
 cessive speculation by curtailment of
 credit. It should also not be for