Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1921-10-31
Brokers Opinions

Newburger, Henderson & Loeb: "In
the amicablc settlement of the railroad
labor situation another threatening
menace has been removed from the
market situation. 1t Is true the
crucial test has been postponed and
the wound treated rather than perma
nently cured, but in wat has occurred
without possibly tho real desired re.
suits being obtained. it is significant
and Of far reachir & Importance to find
sane common sens reasoning prevails
In this there Is to be found the promise
of nm eventual adjustment of real anC
supposed grievances. In all directions
however. multiplying reaSsuring signs
and signals are present confirming thu
rapid return of n condition of normalcy
both as 70 industry and finance. The
weeks operation supplied further con-
vincing proof OF the sound position Of
the security markets and gave ample
evidence AZ to the permanent character
OF the constructive movement in making.
There could easily he made at this time
predictions hS to the future possibilities
Of the market. which on the surface
might appear nonscnsical, but are almost
certain TO be fulfilled within the next
six months period. We firmly believe
major movement of bullsh character
has been started, and while the familiar
irregularities attending the preliminary
SkirmiShcS of the forward swing may
produce more or less confusion at inter
walls. there are many reasons, facts and
figures to support the statement that
security values will have reached n much
higher level before spring flowers bud. "
West 4 Co.. The immediate fu :
ture Of tn" stock market seems largely in
fln I,un,ly ,f iT,v,nI;nto
We continue to advise III" purchase OF
shares 0f railroad, copper. oil. utility
and selected imlustria! rUEpunicS OF
r"nCtionS and say this despite the fact
that it is haCkncycd expression. Re-
actions hHv" been frequent and have
been followed BY satisfactory rallies 81
consistently that n trading position OF
this Kind has proven the most profitable
and bids fair to continue to be-"
HeCker x Co.: "NOw that the mar
ket has had considerable advance,
greater caution should be exercised IN
purchasing stock on bulgcS. Much that
Is good in tn" future - being dis
counted and how far the market will
rise during the next few weeks will de =
pend upon the business horizon which IN
many lines Is noticeaby clearing. The
calling off Ui III" railroad strike was
pretty well discounted, but the railroad
outlook docs not appear to be any too
favorable in the face of rate reductions
with no corresponding wage reductions
BOureau & EVans-"At the present
time there is every reason for bcliev-
ing that VIC are in n bull market. thOugl
sharp reactions are to be expected be-
cause the public is not interested in the
rnarkc: in sufficient numbers. The in.
v"stor in making purchases at this time
should turn his attention to those in
duStrinl concerns that are we'll supplied
with rnsh and liquid assets. Thos,
compani - that have negotiated hug,
loans and are still showing losses be.
cause Of heavy interest charges shonlt
be avoided. 1t will be a long time be.
fore these concerns can expect to liqui,
date their obligations and show any.
thing for the stockholders.
THE TRADER.