| Show NEW YORK By Ja James es McMullIn lullin The big money which engineered the rise in stock prices has pulled out of the market to a considerable ex extent ei- ei tent Proceeds are being held in cashin cash cashin in the event that further support is needed Future developments will depend de dc- pend send largely on the political situa situa- tion ion If the outlook is poor i. i e. e i if Hoover seems to be losi losing g ground there here will probably be an attempt to reach and maintain higher levels before before be- be fore ore election If political prospects are fairly airly good support will be o offered ered to hold gains already attained but there will be no further up push-up to speak of ot If It the outlook is very good a B partial partial par par- relapse may be permitted The whole show might easily be called of off if it and when it becomes cleat clear that hat business recovery will be delayed beyond this falL Meanwhile there has been quiet surrender to the public of stocks whose individual prospects are not too bright for early dates These include in in- clude elude companies in the steel mining motor accessory railway and railway railway rail rail- wa way equipment industries The market rise after aUer the I. I R. R T. T receivership was announced was ws typical typical cal of the support process Strength on bad news is necessary to preserve e salability of stocks for those who wish to o unload S S An important broker was recently asked who was in the market through his lis own own He firm He answered A little better than office boys Conservative sources are increasingly dubious about the business outlook out out- look ook and apprehensive of a market a-market break during the fall Some think it may develop late in September September oth oth others ers that it will bring bad news at Halloween Halloween Hal Hal- loween oween Those who get a kick out of percentage percentage per Increases sh should uld take a look at the markets market's prize exhibit exhibit ger TolL This stock has gained 1900 per ser cent from cent from 32 1 of f a dollar to 5 58 I S SS S'S Information received in Ia New York indicates that people in the smaller towns owns are arc sitting on the on-the the gold bags bags if if an any It is said to be no no harder and no easier to make a living in many cities of to to population than it was three years ago whir whir-h m mav mv v r. r elop so soon is s- s apt pt to be all u fo for the the middle mans man's benefit It is unlikely that hat it will spread quickly to to the rank and file of workers S S S Nineteen hundred two thirty earn earn- lags Ings of all American coq estimated by an authority at 17 per percent percent percent cent of 1929 earnings This allows for fora a seasonal upturn this fall The estimate esti mate shows further that industrial and manufacturing companies companies' will probably earn 11 per cent of what they did three years ago railways railways' 24 per percent percent percent cent and public utilities 81 per percent cent S S S Gifford Pinchot is s expected to d declare de clare dare for Roosevelt in inthe the near future Republicans have reason to hope that hat Giannini will will- use his wide connections connections con con- in Hoovers Hoover's favor It is doubtful whether his influence can outreach that of Generoso Pope pub pub- lisher of Italian language newspapers on the other side of the fence The German American American vote is said to be pretty well sewed up for Hoover Memories of the moratorium are strong The biggest Democratic gains in straw vote percentages from 1928 are shown in Kansas and Cali fornia 4 ss s's It |
