Show INVESTMENTS I i STill STRONG STRON Pessimistic Predictions Pail Fail to Mature Expert Says BT BY n Ro SELLER Standard Examiner Special eo Corns Corns- Corn t Copyright 1924 by The Th Consolidated dated Pres Pre NEW V E YORK TORK Aux Aux- The 2 2 The Th In- In In marh markets marketa u continue strong reaction BO tto long d and andro so 0 confidently predicted b bi pro pro- pro trader traders haa ha not ct et t ap- ap T ap-T lI eared ared red Lost Last wk week In la these thee the dispatches It was vas 3 suggested that the prall- prall Ing belief among tradel that the ISO hen current quotations for tor goS go'S bonds bond had discounted the money mIght be pre premature mature tills this neck eek Od the of o this I len 1 Ei er cry active liberty l nd the th I treasury rea ury 4 s m made de this IbIS eb eel s a neil neat high hiBi price for all Im Ime It 11 Is 1 true Irue tru that this Ing lId did not come from Individual In- In tOt tout hut tether rather represented by ban banks Ia still till hard pressed to find employment for Idle funds some nome of ot It came ame from and I institutions Institution lD which had b been n put In an through the th liquidatIon of o agri- agri agricultural cultural cultural loan loans made b by rising grain train prices price and conse conse- consequent consequent consequent quent Im Improvement nt In la the finan finan- financial cial Ial condition of o the farmer LOAl LOAN LOA l UIS 8 1 LS Iii SITh The present high levels for tor gov gov bonds bond will ill maSe mahe mak ole th the accomplishment of ot Ir fInancing next month approximating approximating mating II It is 1 I no believed believed that the tho 10 III be able to refund its ita September Issue bear bear- bearIng bear Int by a new lug Ing tw two per cent coupons s and andI I six Ix lx mOnths month Ifo It so this aa be b a a new low lov record for since be- be before or be-or 10 eminent borrowing fore the tb world war It all em- em cm the almost unprecedented ease ase In the th money market Aa As to 80 money rates rate alsO alao new nW records record were nde mado this week On V Ved ed- ed nedy y at t least two loans aggregating gating at least etch cich l period of o nine Pre r made at a a 11 for 3 34 per pr cent wb when n previouslY pe the th lowest rate rat for forlong forlong long term borrowing had bad been be n cent Tow Toward rd the close Iose 3 per 3 or of the week web i there thero it- it eLI as some ItI of ot otters otter ot of o Minch ac- ac nc om at this thi rate but no DO nolien sign Ign of o any ny change In the th trend There is I a difference o ot of opinion opinion ion OD as to how far e easy s mones in bringIng has bas b been ln an influence about the ance ad In tocks stocks and andIn andIn andIn In s speculative bonds bond bonds Ther Thero is h 1 nO lisp ute that It I the th money mony ftc rac- fac factor tor br Sins has ha been the th in high hith grade aUs ause in the th rise rl Issues That Th t being theace the ae ace the future futuro of o this class cliM of security depends depend upon the future of money mony There Thre are come ome nhO hO expect Ih that t the th demand normal season will j 10 0 the crop In the Iho thela about a stiffening Jat mate e and Rill cIll so 0 o reduce bank sur- sur surpluses surpluses tur interest st ato to affect pluses a a- a charges This however Is not the real I As A Ion asi liS Europe continues to pay Its lt it bill to Amel- Amel Amelica conditions condition ica Ia In ill gold cold present must mut l ll It n Is 18 1 possible that the disparity between the New NewYork York and th the London landon money mar mar- market m r- r dIsparity entire entirely Iv unknown ket a bring until nUl very may II about of ot funds fund from TC- TC re this side aide to secure the larger larrer urn abroad i but hut nv nv such auch move move- ment will w urel be rented reflected In Ic Interested the he Those should hould watch Quotations for tor forsterling sterling t i RISE Outside bond bonds of o government the th week hL be been n notable for tor an anew a price for 40 n new high average domestic Issue a as a's ell ell eli aa M for tor 10 for foreign gov ment c rn- rn ment obligation obligations obligation Domestic bonds bv by the th U e same im influences influences iere ere that affected liberties The was s foreign bonds bond t tor for market helped bv by confidence In eventual eventual event- event ual acceptance of the Dawes plan Probably Probably allied governments government's b by ably aMy the return of ot the th obtainable on foreign high yield bo be ber to also alo too teo tronc lond was wa A week ago EO the foreign tonS ton'S ond mark market t was Wa w rl till from rom th the unfavorable created bT be b the tir slump lump In Brazil Brazil- BrazilIan Brazilian following the th insurrectiOnary tans ian outbreak That baying Paused passed and the Brazilian issUe having r To- To re recovered covered In part at least th the has resumed Its upward course T The Tho real TOI test at a to whether there Ihre has h been o en a i chane In the attitude of ot the th American investor toward foreign securities will come when the th attempt i rt 11 made mcle mcleo to o market ft Il German loan LO S The theory Is that the th av average ral e In Inest est or IS i xh Iv timid about loaning mone money outside out- out side elde Id the th territorial limits limit pf pt hI his 0 on n countrY It If that Is I 1 true tru with regard to the th of o our associates In the th great t war It ought to be b stIll more true with regard to Germany Oer Incidentally It is lor doubtful whether any large bond oft ring e er had 40 o 0 much bad advance publicity The Th cable hI haae h i s been filled tilled with Ith accounts of ot the insistence of American bankers upon soe- soe safe safe- safeguards s tc guards necessary before theY would consent On oen to attempt to sell e a German bond Issue hsue In America The TIo danger of ot political letlon nd to U the e Interests o of otA be be r has haa ha been ben emphasized sized over o cr and over again It would not Dot be b t after all talk If It investors Investor were a little h ha On the th other hand corn com com Jared with German resources and ability buty to 1 pay r the amount proposed d to 10 be b loaned I Is absurdlY small mail mailA As A a matter of ot fact act few Amer- Amer AmerIan American l Amer-l Ian ican an ln etor in 1 foreign tiei ne ues In the th past part 10 ears eora hate hae ha suffered d anY losses losse provided they were wre content to hold on Tho cases casU of o RussIa and aro El tn Eten en tho those who bought Fren French h bonds bond the th dollar do Isu that Is H at the th original offering price have hav had their S 8 Sper per cent or lr ever 1 since and now have hav a profit on the principal they their holdings the UPS up and downs down ot of the tb marIet marLet mar Let Let Iet |