Show I I Financial Review Ic I c N NEW V YORK Feb leb 21 S. A 21 A considerable considerable consider consider- able part of ot the losses Josses sustained by securities during tho the preceding fortnight fortnight fort fort- night was retrieved 1 In tho course cur of ot tho the fairly a active week weck ending today Several new factors figured conspicuously conspicuously in tho the markets market's recover recovery no noI notably no- no tably tho broad inquiry for and resultant resultant resultant result result- ant strength of or railway shares which made mado significant response to their carl early return to private ownership Distinct Improvement was also seen In tho the International credit situation situa situa- tion ton and domestic money market ExChange Exchange Ex Ex- Ex- Ex change on Lon London rallied 1 to the tho highest highest highest high high- est level lo el since tho ex extreme reme decline of February 4 although h much of or this gain was canceled Int later r. r The Tho C G per cent rate for call cal loans mado made possible chiefly b by tho tue recent drastic reduction of sp speculative e loans Students of ot the transportation situation situa situa- tion Uon declare It Is too soon to express s an nn opinion regarding tho the merits of ot federal federal fed fed- eral railroad 1 legislation as framed but many railway officials an and 1 financiers financier have registered their approval Bankers Bank ers have under consideration numerous proposals for Cor issuance of new securities ties tics the proceeds of which are to be ote do devoted 1 to much needed reconstruction and tI general generl rehabilitation of or the tho roads The Tho physical condition of many len leadIng leading lead lead- Ing systems is fa a admittedly poor while roads of the second 1 class are nrc known to bo ho at Lt lowest ebb Enormous sums will wil be required 1 to bring properties back to an anything approximating their prewar standards ar Interests which n administer to railroads railroads' railroads railroads' rail rail- rai- rai roads' roads financial needs realize much will have havo 11 0 to bo be done to overcome existing economic problems nn and 1 tho the detached attitude of investors towards prospect prospect- ive ivo o I capital issues Meanwhile rumors of consolidations of ot railroads aro are strongly deprecated In authoritative quarters |