Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-12-04

uUauClH8 Win p view 10 etimulAIe
more substantial situation with respect
ties. The activities Of the Secretary OF
the Treasury thus far In the matter Of
new financing having been Of decidedly
constructive character on each occasion
when new financing has been under.
taken.
Il. 10 felt whatever new financing
measures are adopted By the Treasury
Depa rtment, the offering will be made
highly Attractive to the public, and early
In 1928. II II may. BE- assumed tho bond
market BY that time has recuperated.
Il would seem fair to assume q long.
term issue will be put out BY the Wash.
ington authorities.
The last offering was unusually sue.
Of money diverted to the purchase Of the
new AZ per cent Government bonds un.
questionably resulted In somewhat
dampening the bond market az a whole,
It was step forward on the part Of the
Government in that It resulted in fund.
Ing for q long period q substantial
amount Of short. term securities.
Cuban Loan Offering Postponed
Some interest was shown In the an.
nouncement the Cuban loan Offering had
been postponed for q period Of at least
q week or possibly two weeks, owing
to the illness Of President Zayas and to
q desire OF the Washington authorities
to further investigate the financial con.
tlition of the Cuban Government. Con.
fidence is entertained sealed bids will
be asked within the next fortnight. and
II appears certain there will be at least
three. and possibly more. bidders for the
$50, ,0OO, 900 or 500. .OOO, 900 issue con.
templated BY the Cuban Government.
This feeling In investment circles Ia
these bonds will demand more than
passing attention whep offered for sub
scription, and little dif1culty will be
experienced In successfully placing them
with investors. 1t is felt It will be
necessary to offer them at an .attrac.
are presented to the public before the
end Of the present calendar year.
II the Cuban authorities would hold
of for another month. bond men are OF
the opinion a much better price would
be realised for the bonds. as. It Is re.
garded as foregone conclusion after
the turn Of the new year, and tho Jan. I.
uary interest and dividend disbursc.
inent money II available, there will
take place substantial improvement
IN the bond market and new issues can
be marketed at prices one. or possibly
two. points higher than Is possibl,
under present conditions.
Copper Metal Market Eirmer
During the last week the copper mar.
ket could be said to have been rather
firmly established at fourteen cents na'
pound. While it was still possible for
some consumers to place orders at thir.
teen and seven .eighths cents. this busf
ness was Of special nature, and the
sellers were selecting their customer
at that price.
:. The distance Of delivery and the time
wanted, were the main consideration
for the lower price, SO the bulk Of thu
business done by the leading selling
agencies was at fourteen cents, and tn,
Indications are the market will be- firml,
held at that figure for. some time.
Reports were again heard in tho trad.
Of price shading, but thorough inves.
tigation failed to disclose any large
onerinE at below the prevailing quota
ton, except AZ stated previously. whai
specially favored consumers were giver
preference by certain of the dealers
Dot. all the dealers were rlaking con
cessions, however.
Handicapping the Railroads
Charles 9. Calwell, president Of tn,
Corn Exchange National Bank. in tn
current issue Of the Corn Exchange
published by that institution in brie
editorial remarks:
1T was most encouraging to hea
Senator Reed speak at the Unio,
League in favor Of less Government
Control Of business. He especiall,
stressed the Interstate Commerce Com
missions control Of railroads. -
1T Ia proper for the Government I,
have some supervision OF the railroad
perhaps such as the Government no,
has over national banks. but the clos