Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-11-02

Logan q Bryan-A few specialties
were advanced at the outset, but the
standard share list was again being
subjected to scattering liquidation and
the buying power on the decline was
rather disappointing to the bull ele-
mont. We still think 1t is the better
part Of wisdom to reduce long hold
ing Of industrials. as indications point
to hardening tendencies in the money
market for a while longer.
Moler-While it has not been ohi-
cially announced, 1t Is stated. Repub-
lie Motor Truck Company will be
taken over by one Of the larger motor
companies, probably WHY'S Overland
Company.
The markets action today has been
about what had been expected Trad
ing has been much lighter, with the
only bullish activity confined to the
specialties. The bulges in those stocks
under the lead of the Steel issues
however. brought out considerable
profit taking, and even they have
fallen back somewhat from this infiu-
ence.
Clark. Childs & Cove think that
the hardening tendencies in the money
market will serve to check bullish en-
beavers in the general industrial list
for while. Considering the labor I'M
rest and the contraction. which has
lieve that advantage should be taken
Of the current level to reduce long
lines of industrials.
Morse-There was not much con-
Germ yesterday over a 10 per cent
money market. and probably quite
to be arranged. Sinclair stockholders
provided 100000, ]. P. Morgan &
Co. paid Off $25o,00o.oo0 of British
notes and very heavy November in
terest and dividend accounts are to
be settled, and this in the presence
of acceptances.
We may expect easier money con-
ditions after election day. l hope the
New York Federal Reserve Bank re-
port will show a larger gold cover
for circulation and rediscounts. but
we must count on high rates for
stock speculation for long period
A market that could stand up as did
Fridays in the face of such condi-
tions has some merit.
A conservative cannot see the price
of Lackawanna Steel justified by pres
emit conditions. Better buy the con-
vertible bonds. The cost Of pig iron
to Lackawanna is understood to be
concerns. The coal strike is so well
in hand that it is not likely to figure
much.
New York Financial Bureau The
stock market is declared by repre-.
sentative stock exchange interests te
be well in hand" International pa.
per Is being strongly recommended fol
still higher prices by active market
channels.
Bullish gossip is circulating or
United States Steel in commission
houses. but without any special rea.
son given for higher prices at tnis
time. Republic Steel stock has gone
into hands which intend to keep Il
for some time to come. says a private
wire from quarters close to important
steel circles. There is a good de-
mand appearing for Central Leather
upon all setbacks in the general stock
market. Westinghouse Electric and
General Electric are understood tc
have been bought for semi-investmeni
account on a considerable scale dur.
ing the past two weeks.
Predictions are made that the out
come Of the coal crisis will be com
promise on higher wages, which the
public will pay.
E. K Pulsifer-The overnight de-
velopments clearly show the labor
union leaders in all branches of In
dustry are now banding together II
the support Of their radical movement
ment: and the apparent tendency te
defy the government and court intunc.
ton and to escape the ignominy Of
the failure Of the coal strike may re-