Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-09-15

due tomorrow. 1t has been many moons
since the street was treated TO such a
budget of good news. 1t is no wonder
the market looked up. II Is more re-
markable that the bullish demonstra
tions did not reach greater propor-
tions."
Confidence Is Stlll Lacking
II Is always good to hear what the
other. fellow says. Opinions concern
ing the immediate future of the market
are not by any means unanimous. On
the contrary, there Is still considerable
division of sentiment, which, however.
Is both logical and natural In view Of
the recent highly churned fluctuations
and the many conflicting currents which
have been injected into the situation.
j. A. Fayne, who supplies J. W,
Sparks & Co. with very interesting
representations on the market trend.
said yesterday: =
Sentiment among potential prir-
chasers Of securities does not seem ID us
to have reached the point where con.
fident participation In the market Is
likely. This alone is essential TO n
sustained upward movement and this
confidence will hardly develop pending
money and exchange conditions i'm
mediately ahead Of us. Accordingly, we
would not buy stocks on the expectation
OF any lasting movement to develop out
OF the political news, but would await
more favorable opportunities to pur.
chase during the next few weeks result
ing from the aggressive selling of bear
traders who are utilizing rallies to
obtain better selling levels. We expect a
real ELECTION boom" between the first
days of October and the first DAYS OF
November but we do not expect one
this month"
L. G.. I. Stock Widely Distributed
There is hardly an estate in Phila.
delphia that has not some stock Of the
United Gas Improvement Co., not to
speak of the hundreds of individuals
who purchased 1t for permanent in.
vestment," said an official of one of
the large trust companies yesterday.
The prospective substantial reduc-
ton in the dividend rate" he said,
(Which was confidently believed to be
fixed solidly at per cent, means q
great deal more to many people than Is
generally supposed. My only hope Is
| that the reduction will be only of a
temporary nature, and when the Phila
dclphia gas lease is fixed up In busi-
nesslikc manner, as il should. many of
| the holders will be rewarded for their
faith in the management anu in the
property. But from all indications, II
the Rapid Transit controversy may be
taken as criterion. it is going to be a
slow and dscouraging job
There is no criticism to be made OF
the management, he continued, ito
the contrary, l rather feel they are to be
cOmmchdet for the manner in which
they have strjvLd to maintain the in :
vestment value of the stock. ! have
had intimate business and personal
relations with Sam Bodine for the last
thirty years. Everything he has beer
done has been open and above board
lie has been frank, fair and honest In
every move, and has gone out OF his
way to keep the shareholders fully
posted with the conditions and develop
ments. The very frankness of his letter
to Mayor Moore proved this conclu
sively. The trouble is Sam Bodin,
expects every one to treat him as he
. treats them.
"Well, all l can say is, we do moi
always get what we want. Particularly
If your playing with the political END
of the string THE TRADER.