Show AN A L VIEW OF I WALL STREET I R mil u tn are ad adjusted u ted to pea peace e condl- condl I b Indications are re all Mt fo roJo I the war and the next nen weeks w ek L- L for foreign informed witness new am g V fresh tresh foreign credits an ana flO 1 fur fur- 11 of f military m supplies by nu Rus- Rus I ga and d Britain Will t 1 s market marketto to these developments It ha has d th the bear anvil for weeks The Theof Ii bo l n of of weak holdings 1 Is evidently to the UL ted Consequently response influence Is le expected to be reason reason- ays Adams in Boston News V Il financial powers that be continue J in the constructive sider side r mu Their l. l view as tO th A market I gs j that economic features were I I so favorable for a big uplift Ina in ina a a they khey are today oday And the sound- sound f contention every impartial i will admit The facts indeed are I It Is difficult to real- real the past twelve teve ve months ex- ex 1 have topped Imports by nearly i More extraordinary in a aJ 1 J over over twO two months more than f 0 o told sold old has haa come from abroad t liking Interests and makers maker of ot mart mar- mar t l the real significance have havO taken the stocks sold on the tho I Of of peace and the thc claim clam that Eng- Eng I war war debt Is 15 so 80 colossal she will wilt be pressed to carry it whether the 1 win or Ot not They have held then the n Steel the coppers and In standard hd d' d stocks and even In the war epe- epe and 1 nd the tc technical position n o of oJ the is Just the reverse of lit wa aB when at the zenith of the the rank and nd file of optimistic and f p of tho war stocks were anywhere w more than points over the I levels I I I V VI I ti J of of Britain being carried under 3 if 1181 0 great eat t debt when hen the war is oyer over I world bankers smile who are are j Ith her prodigious resources At k d dof of the city war this county owed S Of three thousand million dol- dol Uncle Sam had no sold gold old In Jn his ex ex- ex 7 r rS The ThC Ie universal conundrum was t I fill VIII lit pe e ray John Bulls Bull's existing hd debt Is no greater speaking than that of the theS S States ates half balf a century ago When eventuates he will fearly eat up his as or banker put It nd bi rith his tremendous 8 revenue fromn from o the and n- n the output of over a hundred hundreds s o gold Rolli rv e year rear from the Itan Rand RanI e vast Income from Investments In pies s In other othel words Britain will what this country t did d after she i it her debt of over three r thousand s t dollars In maintaining the uni m n nIll t frill Ill III adjust herself to circumstances cuble rouble V I ers who h are imbued with th these s C Islat that the Anglo French bonds I I T r-T w on the thc bargain counter f ner nerl l bonU onU list list o of course is ts still Capped ped by the Inflow of securities bEj Bother si le Ev Every ry incoming l Its Us quota But signs are that the worst of this move move- las Laseen been seen seen On nil lii the theother other hand of capital laJ Is Up In the tM hundreds of millions and was never ne so 80 rich z Is forward to a hl highly tOUS ou se se season That Id is evidenced by u up Of ot Wall street branch of- of d th fact that lat the hotels already t I replications for forI the he racing months illy fly up to th the I limit mIL These oo o come from all over th the country j tUy not only to tp the popularity of h sa t sn ft t h Health giver but to that of art rt of kings MOle Moie than over eyer Is this titis i lee Ise now with wish Europe s watering i closed Yet In the very ven which men men are being killed it il i mel files r racing lg goes on and the thor thor- adUs ds not nOl less in Eng Eng- ft dc n th the continent today than in r tithes times of p peace aceti ace I tee I ti who paid over for his I ship in lii the New York stock i x x- x baj never been able to see reef t ll ce yet he lie is 18 eo Q sure aura that jeet reet i Is 18 In for a 11 protract protracted d period of F he nays he would not nol t take ke a I dl for hi his s seat sat at today he i Is rl right There Theres h Is no I that the new position of re reeL t In and the phe- phe In Ir the number numb r of stocks a permanent ah expansion In isbn ia iau business u I As et this broker k any good hustling business getter er I have hava no difficulty In cleaning up to a year under the new newT S V T A Act I his circles it is ig no secret I resident Wilson will make male the I lats currency law his big asset In Krent Tent rent political campaign He lie will j ll from scores cores of platforms between vember that the bank act Is T J st remarkable piece of H n enacted In a hundred 4 And most people will agree with tithe same time l It Is I notice o a ot f comment o In business u n s circles I le e chorus of approval of this law is ns as it waa as a few months K Are tact the ie banks themselves app appa- appa divided In their views as to Its vantages This the p Public learned y If lf not with a astonishment as s l of Inquiries sent ent broadcast Uhe country by the Guaranty Company Out of or 25 banks tp the company company's n quest 1700 V i t 1773 adverse tn cad 1 1811 lal But Rut there l is IA no ca cause se for 4 at a a. very ery general criticism of- of answers nam ly that dl- dl Controller t of or tho the Curren Currency y elton Williams William 11 Not long since aal ton occurred the fit of A A. decision against the ment ei nt in tho Riggs bank baltic case caS beyth be- be elV with Ith cheers There Titers Is no noi 11 i 5 About Jv th banks banh of ot the country t. t the fact Mt that the compi campI comp comp- I s Ms i high of office Ice rice which 04 run Y with th the tho broadest bi ImparA 8 e as medium through gh which to I personal spite 1 waste paper and rags is 15 t pen peel now being made by paper to the he housewives f of or th TM Is calls callI ii att attention not hot ot only to s of bf p paper p r tn in n the Cite United at He l e a waste present but ut P points l out nn nfl of pf astonishing r c goes on ll at rh Tion niU estimated d that twice household ld ete waste Is ls destroyed i ar as is returned for means ians that each year jear goes up jar Is otherwIse J ar goes goei up In destroyed Today mone In junk and the calling collector the of waste mathe ma- ma I has nB become someI some some- He Is ls a a. real reat conservator ary of Commerce not out some oo oo copIes of A at ap for the say say- s and waste paper tons of dIfferent I paper board kinds ot of paI pa- pa 1 aYin n the are manufactured UnIted States and a large this II COUld be after i It has served its Used Over again in Of paper But a large part ot of or otherwise wasted The alone used tons of lot ot At present prices this 1 rags would COSt 12 san an a year ear ago Manufacturer Thinks of r atlon Arthur U. U Hastings of the n a or riling Hn Paper company I sin am o 0 Of sOme S very P Positive lve Ideas on this conservation Cation of waste Wast mateS matee mate- mate of e S that there are now dilapi- dilapi er y Which mills lis In inmany many Wany a N NC New England have faMe s suspended opera opera- f rely v b because c uise of ot lack of mate mate- pe maw Their old fash- fash r yh heet are re a apparently par stilled d dI I If I Informed manufacturer of ot otI I I pap paI r d declares Clares after uter thor thor- of the situation that this country every very year vear produces s enough h ste ra rags s and papers If tf saved and collected collected collected col col- col- col with anything like the diligence exercised d In European countries to keep ever ever- paper mill producing steadily stead stead- 11 ily consistently not only making all aU the tilE naner DaUer we need for our own use but also putting us In position to furnish a a. large part of that demanded by other countries H He says that never before has there been such a a. demand for paper to go o to other countries as today and that for s veral years at t least American Amen Ameri can better rte paper condition manufacturers tas so tuISa tuIS far a as ought ug business I to be and In a profits are concerned than they have been for years past The War Though eminent statesmen on both sides agree that peace is a long way off of f It Is 18 dali being drilled Into the minds of or people that when It dawns a great r Re Revulsion IS I'S n In American business and enterprise enterprise enter enter- prise will speedily dlly follow But will It It l f Many hy competent students I find take the tho op opposite view The expected seldom happens and never has Wall street expected expected ex ex- anything more more mord confidently than titan a a bade Mcle trade ec ends collapse J But when the best beit the t European stocks on de- de the h list art are re quoted abnormally low while Under Under Un Un- der the Influence Of after arter the war theories of bf reaction and unsettlement jn In n general genera business the speculative Industrials which were skyrocketed last lall year ear on the war boom are mostly read readjusted to a normal norm l I basle basis To ask the principal fiscal agent of the attics allies If there Is to be another would JI be t to buying U ask aak him movement what tZ the this late J 3 year P P. Morgan would call can a a. reprehensible question ques ques- tion It Is a a. fact however that s some me of think such lIuch a a. development nt very probable Though repetition of last st j ears ear's wild speculation in the war specialties Is out aut of the question If It these observers are correct ft a. substantial advance in them would be feasible and is Ie Is I understand nd what c certain operators oper who have been picking up these thele stocks of late are took look lookIng Ing forThe for tor The We West t. t Western estern speculators are aNI sa sanguine the West Vest Is full fun of cash cash following following a period of unprecedented high crop yields and lucrative prices prices and and brokers broker In touch with its Hs biggest men and its leading cities tell ten me that t when It Is time t to start the tho ball ban rolling Western Interests will be a potent factor on the buying ald side alde of the market Crop prospects are rising bond and conditions portend another year of remunerative agricultural values Th ThU The so multimillionaire U report I lp goes of packets packers discounting n ar aie desirous the Ire election election il ilof or orso orso of Charles Charl s Evans Hughes The Automobile When the Durant Willys automobile deal exploded od bearishness e on n that class of stocks went n wild But u the motor second shares wind themselves and tc despite were I W quick their dt decline to get h their have since made It plain that their values value we Me based on earnings and dividends and ana ande dividend e prospects e to say nothing h of the most unusual ur r conditions that ever e s sIn In any industry with the possible exception exception exception tion of ot oil lies Hns pro In the busineSS business bustness busi bust ness reached Its Us apex Expert opinion Isto isto Is Isto to the contrary Leading authorities anticipate anticipate an an- anticipate larger sales of motor cars cals in 1917 1911 than during 1916 and this Irrespective of oace As I said a few weeks the big fi field y in lb this t remarkable a. a 1 industry t that r of the motor truck tEuk t has barely r been scratched The large number mb of l h horse horse- drawn vehicles still to be seen Is sufficient sufficient suf suf- suf- suf proof of the reasonableness of this statement At that however if the he war goes on for another year yeal the automobile automobile auto auto- d' d don mobile IFe companies a will Inevitably be called l on to furnish Europe with thousands thousand of ml machines s and this pos possible nand along with pur purchases hal hats OI In this country by Uncle Sam gam am and by state governments for mili military mili- mili tary Use Is an inter Interesting lUn future o br Y Yh th h trade situation |