The Western news. [volume] (Libby, Mont.) 1933-current, 1941-01-02
RONDS AND INDUSTRIAL
STOCKS

STOCKS
High-grade, long-term, low-cou-
pom bonds are today In the same
dangerous position as were the blue
chip stocks in 1929. They can move
in only one way; and that Is down.
May not an investor be crazy to tie
up his money at per cent, or even
3 per cent, for thirty, twenty, or
even ten years? There is Justifl-
cation for an insurance company,
which knows that in 1860 it will
need SO much money and can base
its premiums on 2 per cent rate,
to buy these good bonds. but a
bank or private investor has no
right to do SO. Also, ! am rot very
keen for second grade bonds except
in special cases with which per-
sonally am fully acquainted.
On certain groups OF industrial
stocks, however, l feel bullish.
Stocks of companies having real
assets in the ground look good to
me. These include oils, coppers,
pulps. chemicals, and certain steels.
Insurance stocks appear to be a
safe group with good prospects,
especially the fire insurance CON-
panies which are building up a con-
servative casualty business. During
the initiation era following World
War |. insurance stocks stood UP
almost the best of any group. Some
of the banks and Investment trusts
where the assets can be bought al
discount of nearly so per cent, al
SO look attractive. | believe l94l
will see very much higher prices
for certain stocks.
CONSUMER LINES ACTIVE
Severe initiation would hurt shop
keepers, but 194l will not see such
Certainly the l94l total volume O
retail sales should exceed any
thing which this country has eve
seen. With industrial activity con
tinuing to rise, good merchandiser
should prosper. This will also hell
service businesses and professions
men. All down the line almost ev
eryone should be in clover. Col
lections should be EXCEPTIONAL,
good, while instalment sales vii
reach great proportions. Mai
Street, from the Atlantic to tn
Pacific, will be wide open with mu
sic, lights, and bill boards galore
The u. S. will witness shortage Q
only two things,-parking space an
character.
Existing invente RES should shov
profits in themselves, while none
properly spent upon promotion an
advertising should pay handsom
dividends. Statesmen who have bee
doing their missionary work durin
: the past few years should now cas-
in with the biggest commisslo
: checks since 1929. Newspaper &C
: vertising, especially, should be uI
ped at least Is per cent. Let me ad
here that the recent political can
paign and War news have cause
many consumers to become SO uT
set by the radio, that they are no
returning to their newspapers.
CONCLUSIONS
There really is only one thin
4 which troubles me about l94l.
is that our prosperity may make !
less dependent upon God, Whom "
need now more than ever. The m;
terial destruction facing Europe ar
England-terrible as it will be
. may develop there spiritual avail
: ening of tremendous value. Histof
Y shows that the rebirth of nation
$ has come through adversity,-nev'
: through prosperity. Hence, we mu
r be on our guard that America Wi
Q its material wealth is not left Il
i most pagan of all nations.
! Making life easy does not NAL
a it better Avoiding war does n
: insure us against disaster. Mo
G money does not mean more sci
r control. Automobiles, electric r
}, frigerators, and radios will not tai
r the place Of self-reliance, self d
n NAL and the willingness to COO
crate for the common good. We ;
know that the great need of Il