The Bridgeport times and evening farmer., 1919-09-10
I. l. WATSON'S
 WEEKLY LETTER

While the labor situation has cleared tO some extent. there is no material change for the better in the railroad or foreign exchange CondI- uors, and the stock markets recov- cry on short covering and bullish operations due to the first-named factor is likely to be followed by a trading market with specialties con tinUing Co be prominent. Those who arc interested in special stocks have a good opportunity to do a little guess ing on immediate movements. They can see a stock advance fifteen points one day and decline seventeen the next. The oil stocks, steel issues, equipment securities and tobacco shares have been conspicuous for their strength and activity, and the trading element has been speCuIating in them extensively.
 In examining the exoneration of the Southern Pacific management or Government charges of fraud by the dismissal of the consolidated oil land suits, it is worth noting that the tes- timony tended to show that these areas are among the richest oil tracts the world has ever known. Officials of the Southern Pacific say the case just decided is far more important than that now before the United States Supreme Court. Combined wish tho timber and Mexican equities of the company. an investment pros poet is presented that should attract favorable attention from those who have funds 10 place in its seCuri- ties.
 AnroDos of criticisms recently
 F1 of car fares. it has been pretty well es- .abHshcd that these companies cannot possibly exist without receiving In creased fares. You cannot keep taking out of one pocket and putting nothing into the other without de uTcting resources to the vanishing point. Theorists who undertake to argue that they can still go on oper- attug steam railroad ds. electric lines and traction companies on the same basis as before the war without con- -iGertrg largely increased costs of operation. are without the reasoning powers necessary to carry on prac- tiCal1y important business of this character. m which the whole public is interested. from which they require the best services and who are wiling ro pay for what they actually receive upon understanding the facts in the case.
 The national debt of the United States has now risen to S26.596.000,- 900. The President has begun his tour of the country in an appeal to support the Peace Treaty and League of Nations Covenant without amend meut. The Senate has passed the oil land leasing bill. The outlook in the steel trade is reported more cheerful. The American Locomotive Go. has published it's annual report for the year ending with June. It shows over s41 a share earned and is con sidered the best annual statement in the history of the company. Sev- cra1 prominent companies raised their dividend rates during the week Sonsat ttonal movements up ward in Crucible Steel and Baldwin Locomotive were accompanied by the circulation of rumors of a corner in these stocks. United Retail Stores stock has been strong and active with predictions of higher prices.
 The Cummins bill introduced ir ! the Senate providing for railroad re. | construction. would divide the car riers into several big systems. pro- ! hibit strikes. continue Interstate Com merce rate control and give emp1oyes a share in profits. The railroa ds 1 earned their rental in July for the first time since they went under Gov ernment control. A conference has