Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-01-20
GOSSIP OF
THE STREET

Bond men found lots Of comfort IN
the brief address given on Wednesday
AFTERNOON BY John Moody on the invest :
ment situation. Mr.. Moody painted a
nightly pleasing picture, insofar as
the investment business is concerned.
and pointed out that the young men
starting out in the bond business were
exceptionally fortunate in being con-
fronted with such favorable conditions.
In his opinion, the trend OF investment
values would be a rising one for a
good many years, although, Of course.
there was a possibility Of some tempo
rary drawbacks. - -
Through the generosity Of Harrison.
Smith X Co.., virtually all the local
bond men we're given an opportunity TO
hear Mr.. Moody. Not only was his iad :
dress Illuminating, but also in the many
questions answered, Mr.. Moody cleared
up great many existing doubts. Mr..
Moody's deductions, in brief, dovetail
nicely with the expressed opinions of
all Investment authorities. While the
outlook for general business Is anything
but promising, prospects for the invest
ments were never brighter, nor has
there been a time in a generation when
such a golden opportunity offered for
" profitable investments.
Trouble Rumors Multiply
Like all diseases, rumors Of financial
difficulties are spreading with alarming
rapidity. It is about the only topic OF
discussion on the Street these days and
almost q random use Of names is made
| concerning the alleged financial straits
| OF different concerns. Many Of the re-
ports are baseless, or greatly exagger :
| ated. 1t would not be surprising that
! other bucket shop concerns will throw
up the sponge, for It is known in better
Informed circles many of these con =
! Germs have been working on dangerously
thin margins. 1t was whispered around
yesterday that one Of these handsomely
furnished, but totally irresponsible,
Offices was about ready to shut up shut
ters.
There is no crisis in the real broker.
| age situation. With rising prices and
a broader market, the reputable brokers
are looking forward to q more profit
able business. II there is the slightest
reason for suspecting any Of the houses
IN not executing orders, the customer,
should either close the account or have
| 1t transferred to house Of unquestion
able character. Many, who were fool
ish enough to be caught in the meshe,
OF these pseudo brokers. have already
taken this advice, but are experiencing
no end OF trouble to get what is theiI
own. The bucket shop evil possibly
cannot be completely eliminated. but
there are no reasons why the recent
mushroom growth should have been per.
mitted to have proceeded SO far With
out more police or legal opposition.
Putting tho Screws on the Shorts
Many Of those who have' been In the
moving forces that helped create the
pronounced strength in the securit!
trading situation agreed in the view
that the highest prices in many move.
ments were due to the forced settle
nient Of short accounts. They insisted
covering of shorts is simply nm incl
dent to sustaining bull movemen
and the bullish position has stront
foundation in an excessive supply o.
money, the direct result of the Hquidn
ton OF loans and the closing out o
frozen credits in progress from Novcm
Der, 1910, until the middle of last
| summer.
Included in the discussion OF thu
market situation after the closing yes.
terday were references to promises CI