Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-09-09
MODERATE TURN
IN STOCK LIST
=.
HELDGOOD SIGN
Period of Adverse Conditions
Gives Way to Brighter
Prospects.
DIAMOND MATCH JUMPS
Special to indiana Daily Times
and Philadelphia Public Ledger.
nv n II EVANS


BY C. b. EVANS.
CHICAGO, Sept. Y.-In the past two
years the people have grown extremely
weary Of throwing their good dollars in
to the hopper and having them come
out of the mill as sour mash, hence ex-
traOrdinary satisfaction in a moderate
turn in the aspect OF the stock list So
timid have they grown meanwhile that
they sell their holdings on an advance
of a few points. This may be a good
policy from a seculative view point, but
as to many sound issues the greater
profit is to be had by carrying holdings
much longer period, for the prospects
are that In addition to a good interest
income meanwhile there VIII be a large
advance in price.
The comparatively short duration of
adverse times and declining prices does
not obliterats the principle that it pays
to trust the United States.
Probably the best stocks on which to
base ones plans are those a little aside
from the hurlyburly of up and down
caused by mere speculative transactions
A dozen issues on the Chicago list could
be named in ills category. Diamond
Match. q stalwart, celebrated the change
in the spirits Of traders by a jump from
091a to 107 Wednesday, and thus far this
year the transactions in it are a little
over 5000 shares.
OTHER STOCKS
INVITING.
American Radiator, some of the pack
ing stocks. certain OF the insult issues
tural implement companies, Inland Steel,
] 11,H.I H. "a
Carbide and Carbon may be mentioned
as inviting. AS to International Harvest
er, its stock of unsold tractors and other
machines is said by good authorities to
have been overstated. 1t is a fair sur
mise that considerable sales of these ma
chimes have been made recently. Even
the tntramural transportation companies
may merit attention, although the enc
mics of that class of property are nu-
merous and at times very troublesome,
and Peoples Gas has a management ami
support of the highest quality.
Of all these companies ii may be said
that net earnings are nil or poorer indif-
ferent but of all that they have surplus
ses like so many great bins full of gold
Gradually the people are finding out what
there is underneath these concerns, and
the same appears to be true with respect
to the better class of corporations all
over the country. That the earnings Of a
corporation take a vacation midsummer
| is no sign that they are not going on
about their business under more stimu-
lating conditions. The conviction is be-
coming general that the downpour of zero
dividends has gone by.
SHARP RISE
DUE TO SCARCITY.
Ever in this country the cause Of panic
and business depression has been an ex-
cess Of things-of merchandise, Of new
projects, etc. 1t Is interesting to note
. that the one thing which has given more
OF the spirit Of revival than any ether
that is the sharp rise in cotton, Is due
TO scarcity OF something The loss or
curtailment Of crop Is considered a cal
amity in this country, but as to the
whole body Of the people the small cotton
crop of this year Is a blessing inasmuch
as It has greatly enhanced the value of
the commodity Itself and has led the pub
lie TO see what may happen when all
through the country the supplies OF
necessary articles are low and the
amount of capital ready for work is
large.
When we look a little outside Of those
things we still find reason for great eau
ton. The adjustment is only part way
on the road as a satisfactory condition
Of our affairs. Europe precipitated the
great war and is responsible for its aft
er-effects, and toward that part of the
world We must look for the menace run
ming against a country which is trying
to so forward. We are only a small part
of the world and we cannot successfully
fight the other LOO 100000. 1t is re-
ported today that Germany wants all the
wheat the limited StataS cau snare but
Germany cannot pay for It. The result
Is an accumulation of credits which
must have its effect on the exchanges
for a long period. And Germany IS only
one country in the large aggregate of
nations asking us for help. The world
Is distorted and we must suffer a pOr-
ton of the consequences, however strong
our impulse may be toward better things.
Copyright, 1921, by Public Ledger CO.