Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-09-15
'SPECULATORS al
BEGIN TO FEEL
STOCK MARKET
Help the Professional Get Rid
of Investments Since
Discredited.
PLENTY FREE CAPITAL
Special to Indiana Daily Times
and Philadelphia Public Ledger.
By G. b. EVANS.

By @. B. EVANS.
CHICAGO, Sept. 15.-The anticipator
is the man Of the hour. The crowd just
sits on the bank Of the stream and watch
es the prices float by. The anticipator Is
not necessarily the prognosticator. We
have all been in the latt class these
many months and events have disported
themselves in entire disregard Of all that
was said about them.
The stock market is the last place
to make profits and losses and ,c has In
It's constituency millions of people whose
particular line is production of one sort
or another, but who see in the stock
quotations oftentimes a much more prom
Using hazard than anything in their own
business. A few of these people have
been accommodating discredited stocks.
And now has come to their help the spec
ulator, who. feeling for the attitude OF
the people, has concluded that Ii is time
to experiment with the market at least.
How little the miscellaneous crowd OF
Spectators is doing, even at this some
what advanced stage in the rise, is well
indicated by the almost complete abb
sence Of stock brokers' paper at Chicago
banks. Some of the brokers say. too,
that their lines are decreasing instead
Of increasing. II this is general through
out the country and continues for any
reaction in prices. for Mr.. Livermorel
does not buy stocks for the profit Of other
than Mr. Livermore and is not over
anxious to carry a load which viii tend
to increase until the public comes into
the game.
MONEY MARKET
RATHER EASY.
Yet In this city there are conditions
favorable to better prices for the best.
stocks. Business generally has not re-
vived and the few incidents Of new activ-
ity count for little. The stimulating
forces are the encouraging progress In
liquidation and a rather easier money
market. There Is plenty Of free capitall
and the advanced prices for bonds are
commonly a symptom of what viii hap
pen in stocks. Back Of 1t all are the,
large SURPRISES Of the companies in past
reports.
The livestock business has ceased to be-
much Of a menace, but the fact that help
is still called for shows that much is yet
to be done to bring it to a stable condi-
ton The syndicate Of banks that en-
gagged some months ago to lend SO, 900 600
on that class of property has handed out
thus far SIS. 0O0, 900 and more Is wanted.
The fact that the Government has en-
larged its functions in the matter OF
helping agricultural interests is a re-
lief to the rescue brigade OF the tanks
now working on that line and easy con-
ditions in that Interest are to be ex-
pected in the near future. !
The banking situation Is In striking
contrast with that OF a few months ego.
The country banks have not only paid
up many OF their loans. but nave .n-
creased their deposits in this city. One
institution reports a recent gain OF
S1O.0OOOO0 In part this is due, however.
TO the approach Of Sept. Is, when heavy
tax payments are due
BELIEVES STOCKS
WILL GO HIGHER.
well known broker asked two ques-
tons Of q friend this morning Are agri-
cultural conditions goods? VIII Europe
improved The answer to both was af
Primitive. II Germany should drop
through the crust Of the earth some dark
afternoon, the answer to the question:
about Europe might not look so pretty
a it does today. The broker drew as HIS
conclusion from these two answers that
stocks win go higher and he seemed TO
need no other data on which to base his
opinion. The railroads and industrial
companies, he appears to think. can take
care OF themselves if these two main CON
ditions are fulfilled.
We can count pretty surely on the agri-
cultural interest for an indefinite time IN
the future, for 1t is swinging into good
position. As for Germany, the Question
whether paper marks shall be ex-
tinguished as an international money Is
probably not vital. for this country's
liquidation in that direction has already
occurred in the main and Germany has
few American stocks to throw back on
our fnarket.-Copyright 1921, by Public
Ledger Company.