Show t t f Investment Operations Immense Immens I By Ira IC C. C Tichenor Tichenor- Tichenor j HE ready absorption by th the public of millions upon millions of ofU oft I t U I ill rHE new securities issued by big industrial concerns and the record I breaking operations on the New York stock exchange with a conant con con- 1 ant nt advance in prices ca cause se many people to wonder where all allt l t tRo 10 C money Is coming from and how V ho long the movement mo will last A f t Aa As frequently mentioned the he people of ot the United States as a whole i a e in possession of ot a greater supply of ot ready capital than ever wasa was a cumulated by the populace of t any single nation Some prefer preter to use their c in speculative opera operations ons while the greater proportion invest their money oney In interest bearing bonds and preferred stock On o In addition It must must be Remembered remembered that during the world war an Immense fm- fm mense nse be amount of ot property Avas destroyed This must lie be replaced and and andas as asp p Industries are aie tact Intact and In a a. position to supply practically that is needed to to rehabilitate the destroyed regions it Is a a. I ce that American products will VIII be In demand for tor man many years rears to come This condition accounts ts In a great measure for tor th the adoption of ot plans t b the industrial companies for tor an expansion of oC operations which have havet t in rn the issuing during the present year of ot more than a a. billion and andI anda I a quarter of ot new securities all of ot which have ha been readily placed In the ji Am rican market r I Since January 1 lest last les less than thirty of ot th the leading Industrial concerns ot he he United States h have lVe issued Issued a a. total ot of more than in preferred t tock tock ck drawing from fl 16 s to 8 per cent Interest and antI all of ot which has been a aken en n by American Investors I c That the number of ot people who have money to invest has as Increased 0 n Immense ext extent nt within within- recent years Is indicated b by the he single instance t hd lid Pennsylvania railroad whose stock bool books 8 contain a greater number ak names by morel than more than than was the case case a year and a a. halt half ago l. l Possibly the time greatest comfort to be attached to this condition Is that it roves 8 that American investors In have confidence in their industries which 4 act also displays confidence ence in the country |