The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-08-27
Strandberg McGreeUy and
Co.'S. WeeklB Letter

NEW YORK, Aug. 26.-lrregu-
larlty has been moro marked IN thc
course OF security prices this week
than at any time since the iethaFslc
trading was In evidence In the ses-
sions during the end OF July,
That this should be so, however.
was readily explained 10y conditions
pertaining 10 the companies OF whlch
the stocks we're representative tha'
took downward plunge. In thr
main though. stocks are established
at their high figures OF tho year ana
during the week a number OF new
tops have been scored by individual
issues.
10 Ia exactly two weeks ago when
we said In our weekly letter; All
indications favor the belief that the
market les In a position where It is
apt to get In a momentum thdt VII!
particularly carry it TO a higher point
In contrast to the creeping upward
movement that has been In force
since the June high level was
passed"
During the IL sessions that have
since cusued four whole points have
been added to the prices OF 80 repre-
sentative stocks used I'm arriving o
this calculation all the more re
marknble because numbered among
this list are some stocks that ~ Il
result OF adverse conditions have re-
cedcd In price sharply.
Not I'm a fit of self-congratulatlon
upon our correctness In judgment,
/ but with view OF instilling confi-
dcnce I'm your mind I'm the soundncss
of fundamental conditions, which
| has warranted security prices TO ad-
vance - full points over their low
price IN June, do we cali to your at
| tention what may appear to your
mind but "A technical point.
As for the barometors OF trade,
| that are indicative Of higher prices
| might be mentioned: bCrops that
on an average should equal those OF
/ the previous record year bringing
prosperity to the farmer and traffic
/ that promises to tax the capacity OF
/ the roads; (2), low interest rates as
! promised by the federal reserve
ratio which stands at the highest
point in years. go, pig iron demand,
] always regarded as the best single
I barometer Of trade; ca. freight car
loadings, which show a weekly in
crease and are now commensurate
with the record breaking year OF
1920. excluding coal; 90, building
! construction, which since early
spring has been a stupendous basis
| and promises to continue for at
least another year on a gigantic scale
and finally mergers and simors OF
mergers that will be drawn in q pic
ture so attractively framed as 70
make tho appeal to the public al
Turing to such an extent as TO make
buying irresistible.
Yes, but when right near the pin
nacle OF the move before radical set
back, when distribution liz takinf
place.
Y es you say, but who would be So
intrepid as to buy with a railroad
strike in existence? Well, It is GER
tain that much OF the buying ha'
been during the past 12 months oi
rising prices by the Same financia
institutions and men Of sagiciou:
minds with Judgment to sense tn,
future that were doing the sellinl
In the boom days OF 1920. which o.
the public were skyrocketing price
without thought Of intrinsic values,
Stocks are still strongly held ant
one may not look for any substantial
d setback until the public Is agail
buying with aviiity at prices ono,
more regardless OF values.
Briefly put, we favor the purchas
OF all substantial stocks on any re
action, continuing to particular
favor the rails and the coppers a
, offering the utmost In values.