Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-10-03
MART PRESAGES
BETTER TIMES
FOR BUSINESS
Oils and Minerals Show I'M
prOvement and Other Lines
Feel Activity.
EUROPE COUNTED OUT
Special to Indiana Daily Times
and Philadelphia Public Ledger.
nv &. r EVANS

and Philadelphia Public Ledger.
By c. 3. EVANS.
CHICAGO, Oct. 3-Reports from vari-
Gus lines of business in this city recently
said to have shown some improve
ment are confirmed by further advices,
and some items are added to the list. The
feeling here is more confident, in spite
of recent declines in agricultural prod
ucts which are a disappointment to
large number of people. Some local up
turns have been exaggerated in the i'm
agination Of observers, and, of course,
it will take a great many changes to
constitute a complete case for revival.
The fact that a large corporation here
recently sold 100000 pounds Of popcorn
in one day does INTO mean that everybody
on earth IS popping corn.
The best evidence of the breadth and
genuineness of the change is found in
the security market, for securities are
based on property, manufacture and
merchandising, and the new prices of
securities are a result of reports from
those interests, which, in the main, show
cessation of decline, or actual advance.
The same process is now going on as
for three months past, OF even many
months; that is, buyers are picking up
stocks little by little on the broad gen.
eral idea that they must rise sometime.
And there is no basis so good for strength
in securities as strength in merchandise.
OF course, the moderate decline in money
rates has helped.
OIL STOCKS
SHOW GAINS.
Chief among the commodities forming
such a basis IS petroleum. The feeling
/ is that, if anything is going to be a sue
cess in the future, that commodity will
be, for it is coming into more and more
general use in all sorts of connections
and the experts tell US the supply is
limited, though so far as appears no one
of them has bacn all over the world and
put the matter to a test. And we know
that fat is one of the essentials and that
mineral fat is the best of all for some
purposes. Perhaps the great wealth that
Chicago has derived from the fat of pigs
has predisposed our people toward the
grease that spouts itself out of the earth.
Probably it cannot be said definitely
that the lift in oil stocks was initiated
by purchases in this city, but certain
il is that our investors and traders have
participated literally. The interest in
Texas Company here is a big one and
! quite a good many buyers have gone
into that phenomenal performer, Texas
u Pacific Coal and Gil, while Salt Creek
and other Wyoming issues are favorites.
J'rairie OIL and Gas recently has gotten
a movement on itself. but It smells
rather strong Of money for the ordinary
trader. As to the opinion of those in It
an officer of the company may be quoted
as saying when the price was $500 the
company could abandon all work and
liquidate at $500 per share.
The movement in the copper stocks also
is based on an estimate of the condition
OF the trade IN that metal, which hereto
fore concealed and silent in its under-
ground secIusion IS beginning to demon.
strate little in the open. The amount
OF this metal above ground appears to
be very small, the operations of the mines
Is at low ebb, and the demand is small.
consequently the advanced prices for the
( stocks must be considered a prophecy.
and sometimes prophecies 90 wrong, but
confidence in this city is great It ia
Illogical to buy these stocks at the ad-
vance in prices and leave poor little
United States Steel alone in its corner
at so or therea bouts, for the sales of
copper win not likely be large before the
sales of steel are large, but the thought
Is that when ooppers start going they
go much more rapidly than most other
stocks. Moreover the amount of money
involved in 100 shares of this class is
much smaller than in the case Of the large
steel companies.
Spectators here are practically count
Ing Europe ont Of the game. This or
dinarily is q dangerous thing to do, but
1t is felt that tie worst is known and
that even If Germany becomes admit
teddy bankrupt the event will not throw
the earth out of its orbit-Copyright
1921, by the Public Ledger Company.