The sun., 1919-06-30
INVESTMENT VIEWS
AND. THE OUTLOOK
4 eiters on Market Situation
IRE Optimistic in Their Pre-
dictions Generally.
EXPECT STOCKS TO RISE
All Point to the Constructive
Effects of Signing of
Peace Treaty.

Market writer's continue TO view the
Immediate future with a great deal of
optimism II their weekly reviews and
prophecies can be taken as an indication
Of that opinion. Letters almost without
exception declare that the stock mar
kst may be expected to go into higher
ground. All of them point to construc-
tive effects OF the signing OF the peace
treaty and general improvement in In
dustry and trade as evidence OF what
may be looked for In the way Of &C.
curity price Improvement. Appended
are extracts from some Of them.
II. w. Wagner & Co. say: "Summar-
King the situation by and large, there
appears to be a preponderance of favor
able factors upon which investors may
predicate market commitments. 1t is
the writer's belief that representative
securities, particularly STEEL copper.
food and kindred issues and the rail-
roads are destined to sell at materially
higher levels. with OF course technical
reactions. such as usually occur in ma
for bull markets"
A. A. Housman & Co. say: I'VE rather
aook for trading market during the
coming week, but the general tone Ia dis
tinctly firm. and 1t seems as IL only small
encouragement were needed to impel
price advances"
denying the present infiation-and what
imitation can do to stock prices has been
most impressively demonstrated. From
tho standpoint of investment, however,
S11e argument Is much less potent. In
fstion has put up stock prices, and II
Il continues may put them UP further,
bpt that is an argument that appeals
I'd the speculator rather than to the man
Investing In securities with view to
hat Ntnxy he, ant tn-
or the next day. but year or two
years from now. Imitation is hero now
and Is making itself strongly felt. but
how long II is going to last and
how long It's influence is going to con-
tinue to make itself felt. is an entirely
different question. Recognized as some
thing which, while 1t may provide the
eatne stimulus as a shot in the arm.
ts exceedingly harmful. the best minds
in the country are figuring constantly
how to prevent its spread"
Think High Money Temporary.
J. Robinson-Duff & Co. say: THE
stock market during the last week
paused through another period of uncer-
tainty, but when all the influences are
taken into consideration 1t must he adj
United that the showing was Il good one.
High rates for call money again damp
o&cu puL Iflls is uSIltNcu 10
b only temporary, and there Is still a
feeling in important quarters that the
bull campaign has not yet rtin it's course
For the next week or ten days there will
b only what are called traders oppor-
ttnities. 1t is to be expected that the
so-called money strain will be relieved
during the first ten days Of July, when
the various matters now causing the
high rates will be eliminated through
establishment of conditions to such an
eHtent that there will be little or no ex-
cl,se for continuing the unusual rates for
loans on the Stock Exchange. BY that
tine the peace treaty also will have been
signed and another disturbing factor
thus removed"
Wrenn Bros. & Co. say: The money
market still dominates the stock market
and promises to continue doing so for
SPINE time. Financially we are lust in