The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1921-12-13
Weekly Financial Review
BY Henry Clews

tober figures. Meantime, the reader
reception of railroad bonds and other
securities indicates that the credit OF
the lines is distinctly on the mending
hand. Secretary MELONS report
points to the probability of early gov
eminent financing on large scale in
the early future, and this, as we'll as
ether factors, has naturally tended To
improve the quotations of federal is
sues.
Industrial and Financial Develop
mentS
The rumOrs of a probable merger
Of Independent steel concerns have
had their effect during the past week
in rather stimulating the interest in
these stocks, although the effect OF
the rumors has been smaller than
would ordinarily lie the case, due to
the fact that they have so often been
repeated from time to time. Iear-end
earnings for some of the companies
will not be very favorable, but their
general level of business continues
TO hold its own on about the same
basis as in recent weeks. There has
been decided improvement in the
business of copper companies. and
better conditions than usual have pre-
vailed in the rubber and tire market,
as well as to some extent in the au-
tomobile field Prices have shown an
advance, as revealed by the latest in
deX numbers, while retail trade is
more active than at this time last
year. The principal cause OF doubt
within the past week or two has been
the apparent slowing down in the i'm
provement previously noted in agri-
cultural regions, due to the fact thar
the values of farm products have not
shown ability to hold their own at
! the higher levels which had been al
tanned. Taken all in all, however, the
outlook for business improvement
during the winter, and particularly IN
the early spring, seems much better
/ than at any time heretofore. The bet
/ terment of the prospect with refer
ence to German exchange has been an
Unexpectedly gratifying feature of the
past weeks progress. Meanwhile. the
recovery of the mark to point above
one-half a cent indicates that the
earlier reaction was overdone, an
opinion entertained by many observ-
ers. Advance in the value of other
currencies has been the natural out
come OF the budget of good news made
public this week
! Market Review and Outlook
On the whole, the tone of the mar
ket is growing increasingly hopeful.
Nearly all industrial news has of late
/ been favorable. The share list has
reached a point which permits some
fluctuation. but there is no reason for
believing that its upward movement
has been stopped Such irregularity
as has occurred seems to be due to
! the desire of traders in some stocks to
take profits. More interest is being
taken by the general public, who
evince willingness to purchase
stocks, especially in the dividend
class, whenever they sell off Il little.
Good reason for this disposition is
found in the comparative ease of tn"
money market and the optimistic ut
terances regarding future business by
various authorities. the latest being
Governor Harding of the Federal Re
serve Board. who points out that bus
mess conditions are not only very
much better than they We're a year
ago, but there is good reason for be-
j lieying that we are in for greater
prosperity than We have ever had be
fore.