Show War Bulletins Puzzle Ace N. N Y Brokers By RICHARD WALDO and nd andE nJ E GABRIEL NEW YORK YORK Manhattans Manhattans Manhattan's mos most celebrated brokerage houses ar arup are up tip a stump when it comes to trans trans- the war bulletins into dollars dollar and cents Wall Vall street veterans veteran who for a quarter century have hav been living on 1918 reputations a as war financiers are no longer able abl to add up the columns of foreign data and get an investment answer that isn't a guess Here are a few of the enIgmas enigma complicating investments 1 The role of the British dominions dominions do do- minions still is unknown Ottawa and Pretoria may give the out all signal and fill the gap in allied foodstuffs on a credit basis The decision would postpone the United States boom in ill overseas agricultural agricultural agricultural tural trade trade sImilarly similarly anticipated on the basis of United States government gov gov- credit 2 Should the big land war de develop develop de- de elop there Is no question among American munitions interests that tha they will get the allied call Though Canadian British and French armaments armaments arm arm- aments works have doubled the capacity of 1914 the arms plant still is unequal to consumption anc and replacement for the long pull pulI But Bui the investment picture is shadowed by the possibility of sudden peace there ther are executives who do not believe the war aims on either side are unchangeable The common denominator in all Investment thinking is our own in industrial industrial industrial in- in mobilization plan Possibility of official American entry in the fracas would have little effect effect ef ef- ef- ef lect on commitments today if the story of 1914 18 could be re re- re- re This time however the plunge will mean that all business industry and exchange will be frozen frozen frozen en at a minimum earnings level With war var promising to t take ke as heavy a sock at the business man manas manas manas as at the doughboy the eagerness to put capital into war stocks has been chilled |