Show RULING BY M MADOO ADOO I PUTS STOP TO PUS TION T. T liUDA LIQUIDATION Decision Decision of Treasury Head Declared of I Importance to Investors By Badger Bros Bros Wire I NEW YORK Dec 20 The The ruling by Secretary y McAdoo that unsold securities may be inventoried for Income and ex excess ex- ex ce cess s 's profits taxes either at cost or at t the tIle prevailing market price whichever Is the lower did more than anything else to toI stop further liquidation this morning I The ruling g by fa far the most O Important O to It Investors s since l e passage g of i the revenue I Ilaw law will wi permit thousands of holders of I securities to wipe out their income tax almost if It not completely New New York News Bureau Any good news would bring a 5 to 10 point rally raly in this market without any ally difficulty Prices at which stocks are arc being sold represents far worse than ac ac- ac No ono one can understand the senseless senseless sense sense- less slaughter of values that is going on As has been well said we are not tradIng trading trading trad trad- ing in values values- we are trading In prices pries I F. F. F M. M l. l Dick In a general way war the evidence evidence today was wal along the same line lne as an that of yesterday yesterday yes yes- namely that while readjustment to a long war had not been completed Inthe in inthe inthe the investment portion porton of ot the market and while the extreme uncertainty regarding railway legislation is keeping buyers away from this group the speculative Industrials particularly those producing the war essentials are In a a stronger position po po- po than they have been at any time this year In other words the speculative speculative appear to be in a fair tail way to part from Crom the investment issues and arid to be less sensitive to the depression in inthe inthe inthe the latter Globe |