Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-12-27
EASIER MONEY
CLEARS VISION
FOR NEW YEAR
Quiet Optimism HOvers Over
Near Future of Market
World.
RAW MATERIALS STEADY
Special TO Indiana Daily Times
and Philadelphia Public Ledger.
Bv MONITOR.


By MONITOR.
NEW YORK, Dec. 27.-At the close of
last week there was e feeling of quiet
optimism over the near future Of the
market The reactionary tendency that
made its appearance during two or three
days was not sufficiently pronounced to
cause apprehension or to convey an i'm
preston Of underlying or technical weak
ness. II is possible that the next few
days may witness a few isolated exam
pies Of selling to establish losses, but
this is hardly likely TO take on a general
character.
In respect to the outlook for he new
year, sentiment is decidedly optimistic
so far as the course of securities is con
cerned. There Is no expectation of a
business boom, although gradual i'm
prOvement is anticipated. 1t is felt how
ever, that we are likely TO witness 4
period Of speculation that may take on
substantial and perhaps unprecedented
proportions The basis for sucL move
ment, il is argued, VIII be furnished
partly by the growing ease and album
dance OF money and partly by the fact
that the speculative operations Of the
whole world are likely TO be concen-
trated IN the New York security markets.
thus leading 10 a wave of buying that
may carry values beyond all conservative
bounds and even tax the physical machin-
cry Of the exchanges 10 handle the bust
ness.
This. Of course. takes into considcra-
ton merely the speculative features.
These. however, are bound 10 reflect to n
greater OF less extent the Improvement
caused by the constructive work of the
e NAV come from international economic
discussions later on.
The position Of industrial corporations
e. coming in Tor more or less attention,
particularly with respect To their earn
ings for the final quarter of tho year.
The showing Is not expected 10 reflect
much change. although these changes
should be moderately for the better. The
steel Industry Is still workinG at less
than half its capacity and the outlook
for new business is confined chiefly 20
demand for structural purchases and
such buying rs the railroads may under
take The improvement iu tLe price oi
copper metal Is expected u cause q re-
uewal Of mining operations by April NJ
the latest.
The rise in commodity prices viii BE-
welcome If IL does not Lecome too pro
nounce1 Any advance IN the price oi
cereals is expected TO be limited by the
low buying power Of Europe and the
fact that supplies of hread>tuffs show
an increase over last year. with the eX-
cepti0u OF Russia. The improving Condi-
tions in the textile industry and the
apprehension over the new crop outlook
are expected to cause 4 very steady and
probably higher market i'm cotton.
n fqr- rTa -rGs4lif.lE- Ira y rDa-a-fq Is
which has been emphasized 10y rising
rcndeney should Dc distinctly helpful 20
producing corporations, particularly
those which have not scaled their In
ven;ories down to the limit. At any rate
thp new buying for repl-nishment viii
end 90 promote activity and add to the
feeling of business encouragement
copyright 1927. by Public Ledger Com
plny.