Show PITHY AN INSIDE VIEW VIEN OF I WAll STREET J I A That they nc are still planning big market mel mar ket campaigns is apparent apprent from some Bome of the statements made in the following article by Adams in the Bost Boston News fews Bureau The he January house cleaning at t the stock exchange has resulted In new v and stronger stronger speculative Conditions Some of the largest interests I understand are laying their plans for a renewal of ot activities on the constructive side the floating supply of stocks Is mater materially J a Y reduced and foreign liquidation in our railroad stocks at least Is on the wane These features and the fact that salient underlying conditions are still altogether unparalleled are the motive for the repurchase of big quantities of ot securities securities ties tes around recent prices Industry New foreign credits and loans I I Iam am told to the amount of are brewing brewing J. J P. P Morgans Morgan's sudden departure departure de departure de- de for the other side to negotiate fresh borrowings by France Fance and the nearby completion of new accommodations for fOJ Russia and less important tons countries are a reminder that Europe's necessities are still a potent stimulus In American industry More than that European preliminary purchases of materials materials materials ma ma- for delivery delver after the war are beginning to weaken the theory theor that peace will wf bring a big reaction In AmerIcan Amerlean American Amer Amer- ican lean trade Leaders of finance and business as a matter mater of fact are more inclined to the opposite view Whether the war ends next summer or lasts till tl 1817 they believe beleve exports will wi be maintained alt all al this this' year this year in prodigious prodigious prodigious pro pro- volume This his of course is the keynote of ot the business prospect prospect plus plus the bank act and the accession of nearly of foreign gold since January 1 I 1915 It I is as true now as at the height of last years year's boom in securities and industry that changed credit conditions conditions con con- are a back log for values and business the significance of which is widely Idely underrated There still sUU exists though foreigners have lately borrowed hundreds of millions of dollars in the United States the bals bais for a future expansion in credits of at least five thousand millions millions' New Wealth Certain makers It will wi be recalled subscribed to the French Anglo Anglo Fench loan very heavily They had made fabulous sums out of the allies ales and were moved by patriotism and gratitude The bulk of these bonds I understand have been sold and the makers in question queston have returned the proceeds of such sales to the banks and to their respective businesses There Is a good deal of of ot Interesting comment comment in hi investment circles I may add as as' as to what disposition jwill wi be made of the tremendous profits of the leading I manufacturers In this department Charles M. M Schwab and the Du Ponts Fonts of course were rich long before the kaiser plunged Europe into Its ls bloody conflict Now as as a a. result of the war they have taken their place among the nations nation's naton's full ful fledged money lords None of the captains of industry has made as much money the past year as these thes powder makers and Charles Chares M. M Schwab the founder of the great armor armor and geat Ordnance plants at Bethlehem Part of their profits I hear have found their way Into the war stocks stock lately and these multimillionaires are also credited credited credited cred cred- with wih considerable able purchases of standard rails rais and Industrials for In in- in vestment Before war was thought of ot T. T Coleman du Pont put the bagatelle of Into the Equitable ture There is talk to the effect that some of or the new wealth is also seeking Investment In the realty I field feld The Cost COlt of Advice I The wage earner of a a New England I family had always believed In Bethlehem Bethle Bethle- hem Steel a and had pU put practically I all I llY llYl f his s surplus s Into the common o at l low figures The stock was the chief asset of the estate when he died shortly shorty after I war was as declared The other Investments investments Invest invest- Invest ments were not very large and an Immediate immediate immediate im Im- im- im mediate Income was almost imperative The legal advice of a New York relative relative rela rela- tive who owned Bethlehem Steel was sought In the meantime Bethlehem common sold around 60 and the New NewYork NewYork NewYork York relative advised the sale of th the stock and the reinvestment of the proceeds proceeds proceeds pro pro- In bonds legal for their trust funds This was done and the family considered Itself Isel fortunate to have gotten gotten gotten got got- ten such a fair price that Is they considered themselves fortunate until the stock soared above The New NewYork NewYork NewYork York relative justified his position and his advice by bY reiterating that no dividends dividends divi divi- would be paid The dividend declared de de- de- de dared by Bethlehem last month m i is a cared tragedy to this New England family Politics What little chance Woodrow Wilson Wison had of f fe election re-election e ct has been ee eed d dashed to f. f b hv by his li nomination IO of f Louis D. D i I for the United States supreme court n Ceis That at least is the deliberate conclusion of some of the most experienced experienced expert expert- students of political affairs On the other hand Republican prospects they aver are correspondingly brightened bright bright- ene cued ened and the outlook Is more than ever for the naming by that party of a business mans man's c candidate when convention convention conven conven- tion time comes round ton Rules In Speculation I Of f all the systems devised by Ingenious Ingeni Ingeni- al ous speculators speculators and and their name Is legion legion to to beat the croupiers at Monte MonteCarlo MonteCarlo MonteCarlo Carlo not not one was successful Some worked at the start like a charm their backers piling ping up amazing profits only baders to see the latter later ultimately melt mel away before the laws of percentage What is true tue of ot the famous temple of chance on the Mediterranean Is doubly IY true of ot the game they play InWall in inWall Wall st street t No o eh hard and n fast rules have yet been Invented though thousands thousands thousands thou thou- sands yet have been tried that would beat the stock stok market Just now pow there is I understand much disappointment among clients and brokers alike alke over the failure lof of the lat latest st experiment of the sort This had a great vogue last year among I the odd lot traders It I prove proved for a atme a remarkable winner As a commission corn com time a mission producer it i was was a marvel mavel Wh Why not riot A customer put up say com I 2000 and bought a hundred shares of margin stock Then he gave a ten point scale buying order for twenty or thirty shares stock every point down of the same ever G G a. a T T. C. C Upon the execution of ot these i orders a selling order was at once lutin put lut ut utIn In 1 i 11 above the purchase price prie also worked automatically G. G T. T C. C The thing automat cally That commended commend d It i at once to caly hundreds of speculators of small smal caliber calber to live to They had tried for years yeas lve up the principle of buying on reactions and selling on rallies But Invariably when a stock got down to the price they had decided to buy at they waited for a lower one But here In this odd lot system their orders took care of themselves and so profitably while matters went well that one small smal trader el maters I know of cleaned up 1000 on his Investment in investment investment In- In vestment of ot 2000 But the But the old story story- when the market l became really realy perverse their scheme blew up Stocks went down first down first with an occasional r rally ly Then they ceased to rally ralY and went down more In rt a a little while hie the ten- ten point margins of the odd od lot system players had melted meled awa away like Ulee snow In iii a January thaw But as long as as the system worked and andi it lasted for months it was ws a Joy to both backers and brokes brokers brok brok- I ers es and some of the pools had the i ov novel experience for a time of ot belg milKed milked Also for Also fol a- a awhile while while- it it I 1 i furnished the market with wih no inconsiderable inconsiderable incon incon- support Women and the War When will wl the world war be over A pacifist who was lately in in England and anti France made the startling discovery discovery that thit the women of those countries are more bitter biter against Germany and militarism than the men Likewise he found that women as a rule disapprove of President Wilsons Wilson's Wison's attitude since the war President began began began- principally because of his f failure to lure protest protest pro pro- test against the invasion of Belgium and nna his course in the submarine matter matted All this Is mord more or less borne bOre out mater In a letter Al I have received from a lady high up leter In social and business circles In and ami carrying the now no familiar label Opened b by Censor and who writes j I think think you asked if i my husband wies had to serve In the army He Is is not of military age We are however doing our bit bit in iii other Are we il ways being seriously affected af- af affected affected by the war We are ate not as vot- vot yet et but there is no telling when or how this dreadful business will wi end It Is safe I to n predict however that It I will not end be before before be- be fore has had Germany Germany a thorough thorough beat beat beat- thorough ing England will wi see ee to that if ft none nonAr of i her allies ales do but I think her allies are as fully determined as herself on point It is to be hoped there this I will not ot be an any serious complications with wil United States Mr Wilson win the down in History in my opinion wi n not na go as a particularly shining light for the part i has played In this affair I Should think he indeed that the majority of Americans must wish that that Roosevelt were In charge harge of governmental affairs In the United States just now for at least he would behave as becomes a man Earnings Big people I believe beleve take the stan stani that the labor factor In the railway stand ud situation sit sit- Is ia being unduly magnified Thi is the age age at at least as us regards labor capital capital of of conciliation and and ami f mediation arbitration A general generl stride e c of railway and is to to their way of H thinking of ot the question Railroad out queston officials then themselves themselves them them- selves rather expect that agitation nH arbitration wilt will Vedic plus u uIn ar on wi result In some reduction In iii working hours and some wages Not enough in eith either r case how in II to maKe any nV v at ever gr great difference fi fn surplus earnings Then In Official there are hopes hope that an Offset quarters eventually In the shape of Will Wil advar advance In rates rates-at least or on Western Vestern an roads Eastern lines do not expect such relief Apparently they do not need it |