Show ter Ot Outlook for I By Ira C. C Tichenor ic r considered practically certain in view of various various' prevailing prospective that the price of Liberty bonds and andr r notes will i experience a material but gradual improvement the coming few months i ere re can be no doubt that a number of large corporations and extensive ual holders of such ouch bonds have b been en hea heavy sellers for the purpose oth of ot la h ng losses to reduce net business earnings and to lower income ta tax tD t I This form of selling now has ceased and thus one Q Q the he e most of ot the depressing causes has been removed j i j other situation that must have a f favorable ef efte effect t upon the the Liberty I ferket M as aswell well wel as upon other bonds and the tho general financial conditions J 1 at t there has been a cessation of of treasury borrowing excel except t through Jj I time certificates and it I is anticipated that the coming year rear will wi witness of even the short time issues t ew of ot the about of ot Victory i t r notes will wi mature tf l Y 1923 or a little less than two and a half hal years the Indications that bo bonds ds soon will wi be bo in such demand that hat the price rc readily d y will advance 1 and abOve It I is estimated that by the end of the fiscal fisC- year 1922 loan wilt will wi have been redu reduced e eby by at least by sinking operations leaving th the remainder of about substantially t ng debt debt s reasonable to expect expect that provision then will wl be made If i ne necessary essary rt al l calls for redemption lo for tor the acceptance of Victory notes during I. I cal eal year rear of 1923 before maturity In the payment of income and profits i Dy by y this process and through f further sinking fund operations it is iii I t fO ted ted that t the Liberty loan at maturity will wi not b be more more th than n U n relation to the Liberty bonds it has become apparent that public publico re o liquidate has completely ceased and that the remaining lg original l 1 rs are re determined to tg tl the he bonds as a permanent investment t or at athold athold hold them until materially higher prices are obtainable t now expected that Liberty bond prices pries will wi respond quickly to ar a a r pt on of ot government go purchasing which has temporarily ceased 1 |