Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-17
Brokers' Comment

/ 6y the Associated PreSs.
NEW YORK, June 17.-Brokerage
house sentiment was mixed today. Dull
ness of yesterdays stock market APP
peared ogive little clue as to the imme-
date trend, although the resistance that
developed in the late trading was re-
garded as encouraging. Comments fol-
low:
Paine Webber-On the whole we are
inclined to expect a moderately lower
level in the next 10 days.
H. Hentz & Co.-The market remains
dull but firm. 1t appears to have lapsed
into narrow trading nut, from which
1t will emerge as favorable developments
materialize and confidence Is restored.
Lamborn Hutchings-The immediate
situation continues somewhat uncertain
Should stocks fail on this current recov-
cry to pass the recently made tops, there
is little doubt but that professional
traders will attempt some selling pres
sure. Many stocks look as though they
Will not be able to improve on these
tops, but even If they should there will
probably result sufhcient profit-taking
to spell the end of the rebound which
started approximately two weeks ago.
=. r. hutton q CO.-Ine STOCK mar
ket is naturally sensitive and cratic at
such stage and 1t will be some time
before enough confidence will return to
give 1t more stability. However, we feel
gradual creeping movement is ahead
Of us and that the way Is clear to allow
individual issues to discount construc-
tive influences in their own situations.
Winthrop. Mitchell & Co.-Until it
| hnRnHnnG ~ eV
| financial problems now faced in several
European countries give fair promise of
settlement, We do not look for any
strongly, sustained rally in the domestic
stock market-though clearly our own
| internal situation, both business and
marketwise, Is now on the mend, or
| is eagerly awaiting favorable moment
| to begin that long-designed process.
| Given any indication that foreign mat
| tiers likewise are improving, we believe
the two-year depression could turn
overnight.
/ Jackson Bros. Boesel 81 Co--Among
the factors which are likely to discour-
| age organized buying are the many dis
appointing reports for the second quar-
ter which will soon be coming along.
! However, should the railroad group forge
| ahead again on rate developments, as
they did last week. 1t is probable that
this influence would more than coun-
teract the effect of poor industrial earn
ings and possible further dividend re-
auctions and omissions.
Redmond q Co-The market con-
tinues to show fairly good resistance to
| bad news.
Emanuel & Co-Should leading
stocks be able to carry through last
weeks resistance levels on the upside
on volume we recommend re-entering
the market on the long side by taking
on moderate lines Of active leaders on
slight recessions.
Hornblower & Weeks.-At this stage
We should make the market prove itself
| rather than anticipate it, and until the
market indicates it is ready to renew its
advance by selling into new high terri
tory we would either wait for this de-
velopment or limit any trading commit
mentS you might care to make to Pc
RODS when the market is reactionary.
The market has been moving within q
comparatively narrow area for the past
week. and it may be that this movement
will take the place of more subStan-
tial reaction, especially If short selling
has occurred in SUFFICIENT volume to i'm
prove the markets technical situation.