| Show RECORD PRICE FOR RED METAL Industrials I Connected With W th thI I Copper Boosted by Extra Extraordinary Extraordinary Extraordinary ordinary Demand THE SUPPLY LOOKS SMALL GENERA MARKET DULL AND SLUGGISH New York Oct S SA A few of the Jes less Important stocks stock offered a rather sen sensational sensational spectacle in market but buthe the tha he trading on the whole was wa dull dul and uninteresting and prices moved in a slug sluggish sluggish sluggish gish The e firm undertone of the market was largely sympathetic with wih th the few ew notable advances advance The he only factor in n the general situation which could be he beheld held to account for the apathetic lation laton was wa the money morey market maket conditions The he immediate outlook with wih the te opening of the week did not fully hold the the prom Ise se offered by last weeks market relax relaxation aton While there was no actual stiffen ing ng today the th downward course curse of inter interest interest interest est rates was wa quite quie distinctly checked The result was wa less es confidence in addi ional tonal ease in the securing of resources for stock market operations The disappointing exhibit of the banks in n the tha weekly statement of conditions was not held accountable for tor the tone of ot the th money noney mOlty as the actual condition was be be to have been improved d more than was indicated indicted by this comparison of the weeks averages The The course of foreign money mone markets market had hd nore more effect effect These distinctly reversed the easing tendency of last week and moved upward upward Dis Discounts Discounts Discounts counts were quotably higher In London Paris Pais and Berlin was re rE renewed of the tho probability of a rise in lii the official discount rates of both the Bank of England and the Imperial bank bak of Germany Gerany this week week Our foreign exchange market moved upwards upward and the demand in n that market was said to be largely for remittance tr t cover over maturing finance bills bis These maturities are known to fall fal Into a very large amount during October and the he rise in foreign money rates adds to the he inducement to recall them or adds to o the cost of renewing them The bear ing ng on the foreign for ig exchange situation of i the he outcome of the cotton crop receives special attention in view of the fears of ofa ofa ofa a smaller crop than has ha been estimated with wih a corresponding reduction in the available surplus for export The reactionary movement in cotton coton market was a satisfactory devel development development development in that part of the situation More or less active discussion is going on onn In n financial circles of the great exten extension extension extension sion of banking credits cre lt In the country at large arge and the tho part played in them by real estate mining and other speculation The he movements movement in special stocks today nearly all al had rumors rumor of happenings stock of individual character to account for them The General Electric advance was wa ac c companied by reverts of a coming stock issue with wih subscription rights The Th strength in Westinghouse Electric American Locomotive and Allis Als Chalm Chalmers ers was sympathetic or was due to ru mors of actual mergers merger in contemplation Industrials connected with the copper industry were all al affected by the extra ordinary market for the metal which touched record prices price both in London and New York with apparently no supply available for immediate delivery delvery or for the nearby months In contrast came the report of f the determination of the United States Steel corporation to make no advance in prices of finished products in spite of the urgent demand Railroad product officials reported growing difficulty in taking care care of the freight offering for transportation and a certain prospect of freight congestion if any obstruction oc curs from bad weather Union Pacific was wa the only prominent stock to show notable strength United States Stat s Steel hung about 49 to which it rose Fri day afternoon on the eve of the announce ment of the terms of the te ore deal A 4 good proportion of the days gains gins was wa yielded in a late reaction and the market closed easy Bonds were firm Total sales par value United States State old declined on call cal |
