| Show f I. I Financial Problems of U si 51 siS S Now in Process of More Solid Business Basis Business Basis Assured ed for c S S S ys Sd-ys s Market Letter I the tho recent events in their market letter I R. R i I. I D Child Co says sass event o Happenings p I In the the financial markets In I tho the past week have been Indicative that financiers were giving attention to the thc probable solution of the many problems problems lems lemI facing racing the tho welfare of oC the country but There were werE many currents cross coss S through all aU of them a a strong stong flow fow of sentiment toward the tho fact that the fu future future fu fu- ture of the country points to a a. more solid sold business basis than inthe past Investors must roust bear in t mind that In iii I financial circles coming events are anticipated anticipated an an- I for months ahead and what I I is happening now and may happen inthe in inthe I Ithe the next two or three months has already alI al- al I ready next been offset to a large lare extent extent InI In Intrinsically In- In the country countr is sound true the I United States government owes about but it i must not be forgotten forgotten forgotten for for- gotten that this sum Is owed to the people of America and not to foreign countries This makes the position of the nation naton Infinitely stronger Industrial stocks have suffered liy ily and this is especially true of 0 the te preferred pro pre pr- pr erred stock stok were so largely disI distributed distributed dis dis- dis- dis I among the people However industrial stocks certainly are reaching low levels level for it must not be forgotten that In the past pat six years industrial en enterprises enterprises en- en have hava hav accumulated large lage additional additional addi addi- tonal assets As an illustration Bethlehem Bethlehem Beth Beth- lehem m Steel I in Sn six years has a added more than t a a. share r er to sl sla its present r t value 1 of the common stock yet It I is selling I at about 2500 2300 a a. share above the prewar prewar prewar pre pre- war prices Republic Steel has added around 1000 per share to the value of its common stock stok yet it is selling at a present price of around In 1915 it sold at in 1914 U. U S. S Steel common sold as high as or about 10 a below its Is present price and this In face of the fact that in that time it has ha added to its is working capital and expended nearly upon new construction These illustrations could be given almost in indefinitely indefinitely In- In definitely but these are sufficient to illustrate lustrate why wily shrewd Investors are giving giving I ing attention to industrial stocks at the present time The dealings in first-class first bonds are the largest larest in the history of I the country count Investors all al over the country country country coun coun- try are placing their accumulated savIngs savings sayings sav say ings in first class frt class bonds and leaving the speculative stocks alone This I tion of safe investments by the the people is a splendid of the solidity of the United States and that this will wl conI continue continue con con- I as a long as opportunities for safe I Investments are on the bargain barin counter I it Is safe to say I Telephone securities are receiving some attention and are ae deserving of higher I prices as it I is a business necessity that thatis thatIs I is increasing in use and the management management of at the di different ent companies is In safe hands It I appears that the point has been turned In the making of loans to foreign countries All Al indications go to show that the the sentiment of our people is against huge loans to European countrIes countries coun coun- countries tries and it appears that In n the future our financial resources will wi be kept at home for our own need At the same time sufficient resources will wi be provided so that the amount of our exports will wi not be interfered with wih Foreign exchange is low as the EUropean European European Euro EUro- countries are passing through the te same period of deflation as exists in this country and there are many safe securities securities ies of foreign creation creaton that can cn be purchased purchased pur pur- chased sed ch at attractive prices Railroad securities are eagerly ab ab- ab- ab There may be some letup In Inthe Inthe inthe the volume of traffic but indications are that this will ivill wi be more than offset by economies in operation Total dollar doBar silver sIver purchased under trader o the Pitman law taw amounts to a U U ounces The weekly since May 17 is ounces ounces yearly On this will wl require nearly six years to the ounces which tt ti t calls for This Is encouraging mine operator and with wt the the the-lr r rIn in the cost of mine supplies and reduction In the cost c the mine owner ower is facing 1 We must repeat that as a the te dol dot more the prices of high-class high s swi swill swill will wi improve and that the invest He lie lc are taking advantage of the conditions to Invest their sect acci ct capital is shown show by the large lre of transactions in class high booter boother bo be other oter Investment securities audit adt dUon will vill wf no doubt continue t t tte the te first of the year At that til UI tl I tonal stimulant will wI be lent to th ment mont by the large amount that Distributed in interest payment |
