Evening star., 1919-04-27
LATEST WALL STREET NEWS.

Logan and Bryan-The enormous
| public interest in this market is over
| shadowing any other feature We
still feel that in many cases distri-
button Of long stock bought, at lower
prices is going on. especially in the
| industrial line, but even in the face OF
| same the public demonstration may
carry prices higher. We are friendly
to the rails.
Moler-No fresh news. The buying
and bidding up of the railroad list
has been by brokers who usually
trade for some Of the largest local
operators and other important inter-
ests which have been behind the
stock market for some time OF late.
Looks like simply a switch tempo
rarily from the industrial list to
broaden the market against reac-
tionary sentiment Of the last several
days.
Dow, Jones g. Co--Ohio CitieS Gas
declared a dividend of 4 per cent on
common stock. This compares with
previous dividend declarations of 5
per cent. Sl.oo a share quarterly
which have been paid since July, 1917.
Whitney-The best stocks to stick 10
AT the present time are the, rails. be-
cause they have not had their up
move and are selling below values.
The big men who made such an ac-
tive market in the industrials re-
Gently have been taking profits. and
ara switching over to the rails.
Morse The significant fact as TO
the market is that the Investment
power of the country has increased
out of all proportion TO the supply
oc investment issues. except for gov
ernment bonds. There liz a mass of
fake stun on the curb that one can
buy with certainty of loss. Under
these conditions there should be no
difficulty with tho victory loan. and
with this out of the way We may ex-
pect u fine market for bonds gem
orally. which should soon be reflected
in stocks. 1t seems wise to buy the
general market on any little show
Of reaction. Railroad mon are much
encouraged by what they hear Of the
probable Washington course. Buy
good rails. but do not touch COM
pletely bankrupt concerns that are
put to absurd prices on tales OF oil
wells on the right of way
Logan g. Bryans market letter:
Advancing tendencies in the gem
erai- stock list, especially the rails
and a few Of the oil stocks. were re-
sumed today. The public demand for
during the current week, broke out
again today In vigorous fashion, par
ticularly in the railroad group. The
industrial shares were helped some
what by the extreme strength dis
played in other groups, but it IS
plainly evident that the much-neglect-
ed railroad list is beginning TO ap-
peal more to the conservative specu-
lator and investor. This seems only
reasonable in view of the fact that
many of the industrial shares have
advanced materially since early Feb
ruary. and the realizing Of refits on
those same shares is now being
forwarded by absorption of the bet
ter class of railroads issue. The mo-
mentum of the public demand for Sc
curities in all probability will move
prices into still higher ground, but
we believe that speculation win from
now on drift more into the shares of
companies that have not registered
any advance to speak of, and the
railroad stocks are among these
j. S. Bache & Co.-Any news or In
ferenees regarding the situation in
the steel market are Of paramount
interest in observing the progress
toward the rehabilitation of trade.
The differences this week are rather
optimistic than otherwise. Atten ton
was centered on the remarks Of Judge
Gary at the annual meeting Of the
steel corporation early in the week
His statement covered the contro-