Evening star., 1931-06-20
Brokers' Comment

NEW YORK, June 3O.-LookinR into
| next week, brokerage house commenta-
tors point out that the stock market
viii be Influenced by whatever dividend
actions are taken by q number of
prominent corporations. Some think
July bad news is being discounted by
the current slow decline. Opinions
follow:
jackson Bros, Roesel Il Co.-The
coming week will be important from
the standpoint of possible further un-
favorable dividend declarations and the
uncertain outlook has naturally kept
new buying In the stock market at
low ebb. With the period approaching
when poor second quarter earnings
statements will begin to make their
appearance it Is reasonable to expect
that the market will register no inn
portant advance until after existing
uncertainties have been eliminated from
the industrial picture. We retain the
view. however. that the future viii
reveal current price levels as having
been attractive from the viewpoint of
the investor who Is not concerned with
day to day fluctuations.
Pask g. walbridge-while drifting
slightly toward lower levels, the de-
creaSing volume Of the stock market
suggests q drying up process during
which extreme dullness may prevail
for some time, but which will afford
aStute investors a favorable oppor-
tunity to accumulate stocks for O mod
crate pull.
Shields g. Co.-Continued extreme
dullness Is reason for hope that the
market at last Is entering that stabil-
ization period necessary before the
foundation can be bulat for any real
advance. While turnover Is light the
trend continues downward, indicating
that the list will reach levels discount
ing the bad news will be received with
out undue excitement.
Redmond & Co.-The market may be
In broad accumulating area, as many
contend, but we nevertheless persist in
the belief that many stocks will work
lower. and see no reason for haste in
making investment purchases.
Hornblower q Weeks-speculative
sentiment next week can be expected
TO be influenced by the many important
dividend meetings which are sched-
uled to take place. In addition, the
period Is drawing near when the sec
ond-Quarter and semi-annual reports
viii begin to make their appearance
4AC AAOVC tWO AdCSu1S, LO8Gt0ST WlbAl
the approach of the season when busi-
ness Is normally at low ebb. win un-
doubtedly afford good test Of the un-
derlying strength or weakness Of the
market, with immediate attention To-
cuSed on the June low-reSistance levels.
Clark, Williams 8E Cove believe
that securities are selling at very at
tfective levels at the present time and
we also are of the opinion that we are
In q period of accumulation, but, due
TO unsettled conditions prevailing, we
anticipate further irregularity from time
to time and continue to advise that
purchases Of representative issues be
confined to periods Of price weakness.
Winthrop, Mitchell & Co.-Apathy.
rather than weakness, Is best descrip-
tive Of the present stock market ana
we anticipate that this. condition will
rule throughout the rest Of this month
and into July, when we look for greater
volume and rising prices. Thus, as a
trading proposition, ths present market
offers little attraction. As Q long-pull
proposition, it is full of attractive posSi-
bilities. 1t Is a happy one for the bar
gain hunter, but dismal one for the
day-to-day trader.