Show EXPERT SAYS MARKET INERT Sugar and Copper Coppe Stock Improved Dangerous I I I By H L V P VIAT I v LS 1 r I l j It al alI I Cop 19 1921 1 J JD hC D YORK March Iii 15 l In tte 1110 financial situation of or the last cek mOle moie has Imas beel tal- tal talt tak taken en cn t n In the Iho reco el y of the tie F fl mane anc and the depression of tIme wheat trade than tan in n anything else ohe The stoc toc market has I fol-I fol followed ol- ol lowed honed along alone the lines indicated Ih ee ago after tIme the twain main upward up movement mo had culminated and a sham sham n I had ed OutsIde conditions were ere too good for a fum fUI timer ther sustained decline they tey ft ere ere not hot good enough for lor or semi i Immediate ene al of the real 10 realI ad ance Consequently fluctuations fluctuations I settled down Into a It ran rane e iuM Interest r st was with with- n a and lid the field left let I In the tho possession ot o the I This Thia has been the I ort rt of or ma- ma Ul lt is ha has ben been c Il Ilon on dur lur- lurIng ln log Ing th the week wee nod ned b b 11 1 lonal in l Ido si stocks a tow fow ow dO but the lar majority upward up It Is ii hard to Lo l see ace just hen ft hen thin state Ialo hta o of or Intel tI will 11 terminate There are iov powerful outside influences to t dow the either way say Spec Spec- Speculative Wail all it all al time the tin i time harder to understand how hov howIt howIt I It coOl coulT hose have sot got excited oscr O Teapot Dome Dom Doni or for a 0 I moment to time tIe ut that tha I I the In ni itt at Washington collie to undermine were I I dence in the stock toti The I financial along alone with 1 I tIme th rest ret ot of o the country Is simply Imply I dl with Ith Iha lie whole bus bui- bui I n s ot OS poetics and muckraking r I-I I lIn and Is ear eal of o t tr In to read reail I I Wall Vall street has th us ot of otan an abundance aneo of eor credit t si nero vidual all appeal eaL to be b worth morn more On their 1 thele lis I is plenty of ot for tor n I ai i advance ads ad But Hut the tir he market mit-ket in g-en- g genc gm- gm c ecal al Is not 1101 I epo to money mone conditions alon alone it is Iq mOle Inter Inter- Interested ested sated In the course of ot anti and an anthe the trade movement nl Is far tar from uniform A ear r ago a o production of steel was as large lare s as It Is 11 now I ir In Loth hoth Instances approaching the Iho maximum foi rOL all 1 time nut But on 01 it acou-it of ot rundown n supplies the 10 maret wis wi's iii In the lie hands hand of the Ihn th seller XO V Now consumers consumers n ale aie e weli ell enough socked up not to wory about failure requirements The continue to buy bua bu for tor or needs i only and to the th latest st stI report are obtaining In some omo line I concessions front from the tho th producers I SOU SOW r I IThe The Tho outlook 1 Is bright bright for tor the thi sugar trade It Is better belter than It I s for tor the copp copper r trade trad The Th general of o merchandising n Is l a as Indicated by the tho th record r cord breaking total totals of ot I Ings an the larger larcer l ot of cheeks check pas passing the he pene In I On the other hand Cl ude rubber has hns been ln a Into pest low v I 1 foi fot the 1110 season eaon an anti and 1 raw ran silk has also reached ne new De Ie- Ie I Ue the t decline In ra raw w cotton cottonI I the there 1 Is no l ii In the thee th good goods had an and no Inducement forthe the cotton coHon mills ml mill to Bt start rt up tsp again n These various exceptions exception have base 10 lobe be taken t into account in it an s n mary ti-n-mary mary of the c n business stu TIme The clack m en mf f i ket kot sinie K s n nl to tobe tobe tobe be g e tor for more enCura t In its quarter 0 sO 0 To the lit list of ot less Ics favorable ta tac- tac fac factors tor tars tors mu must 1 certainly be he added the te lh decline In wheat what pI puce ices and In one oi 01 two important branches of ot the tho thelise lise e stock industry try La Lasi caro a aery a very sery unprofitable ono one fo tor or the wheat heat trade and set et May Is nov mow r selling 12 I cents a bushel lattice in l what It was as a 0 year ago ot nt this time line and September wheat ft heat judgment ment 1 h hi new clop is 5 S cents centa 10 lower er 1 Id I'd 1 01 oi able 01 able weather In the southwest Iras Ira figured In the lecent I decline and so 50 has the slackness In c por capor TIe The two main points ho t e ea lare i are ara the tho failure allure of o 0 the I I measures Including lle D 11 eI e I raising of ot the tariff to have tile the desired and the tho th Ot dois-Ot the Iho farmer In tho the north north- northwest nonh west can be Induced to 10 old habits and tit div theIr crops In Iii o oher h r words It Is 0 yo e wha h growers ers have hase yet awakened to tl t necessity nece necessity of ot not der depending on a foreign outlet or artificial gO rolef rolet and of or to 10 the Iho size of ot the mm mal ket alone's alone s 's ith the danger r ov os er Cr now that shong has hns Inn ben C c tended rench Ii h a I gone La I I k to their old attitude that hat the de sic in the was sIns ns un ranted ad a I l was as brought broucht about b n ura- ura tOt fi os t Germany The is 19 th-it th to t American and English 1 who have base conIc come corn to the tho er haie a done dene Ao So I under unter the conditions o of cf th th-ee ai ago Then the th French gO gOern rovern ern- ern mint as was saline saing that the Iho lie Diver D committee could so go 0 into an 1 estimate but that it Its lad lad- ln 3 could not riot change e the ri Jolle o of t time the full m tn- tn on eon the baas baa's 0 of tie he I cat It na a om long hung to persuade th the oUd that the extraordinary e budr budget tv 5 be b balanced through thouGh reparations pa and Ih that hit t it safe SIllo in the th meantime to keep p- p In jg Sit n loan I BIG Dlf TA T 1 I Cl bl X 1 The Th Januar colJa se in ct- ct tt I j franc raise forced Cord the French au I I ties toes to abandon this lA faje fa policy and adopt a 20 per 1 tit It ta t ti increase o and anti later latr B t g ve out oit an ns lan e that If it It er easily to cut out on 55 work or ork in 10 order to J ci ol 1 further er bOl rov ing It would be bedOllo bedone b done dOllo stepI This Tills isa 1 the tho first bIg step to ord I toward assuring a The second w Sm is tS the bl bi e on 00 the Iho n lr policy implied I In Is-i to the committee i atlon as In December they were to be Ignored To Sll sits sav a after going coing to such leis lei's to American and h Cl e that there thero ss ne as no real financial criss cris's in Franco France and that the fa La 1 t in the franc was al speculative 0 l I If Quito quit ridiculous 00 |