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Show ferest Believed to Be & Than Generally Estimated. 0p money is rd-wide complaint jjjfof Great Prosperity Mj Large Require-Unjeiits Require-Unjeiits for It. HTrlbune. ;B Oct. 29. Uptown interests mjg market say that without -ere lina been ' a concerted eccntly to put prlcea down. k.SHyho le been In a position 9Bj, transactions at elo.se range, Jery advance of Vt has been 2Stestotl and tliat apparently jin'tcrest Is considerably larger I'fiy estimated "While It Is not jljat the general mnrkct will jr.terlally JnsL yet. movement jyjlsaucs are looked for. The ?9ffbeen in a position to rise !t has been held down by 2jn?n of the money supply. meen needed for so mnnv rcn- ibcen so dlfllcult to secure rope, and Hlcrllng oxchnngo 'apn so obstinately, that there lJtost excellent ground for th great Increase In "Wall street jOHld Invite repression by tho community. fSfii-ning: Is Heeded. LUicnsIon found a concise ulter-igtouclie(l ulter-igtouclie(l the entire' people, In i;pl,y, V'M-ProMjaunl Vandcrllp 7 nal City bi.nk. This address ttlon not only to the danger of "J. speculation, but even the Maintaining any speculation at MB J?il",ces, llK'" 'X'Ing. This Hlte, followed on the first day by firp seneral decline. It was tseveral days jy a. fienr.o of WoA,11 'lls,!lcnatlon to buy Hcxccpt by ft comparatively few bold speculators. Hence tho condition condi-tion of tho market a specialty market: a market overshndowed by some one stock like American Locomotive; a market dotted dot-ted by rises in Industrial Issues, but mostly most-ly thoroughly Inactive. Think Market Has Turned. Tho Idea seems to be prcttv general thnt tho market has turned and that from this time on will be more active and work to a higher level. The various pools, who of late have left manipulation largely to a clique of room traders, plucked up courage at the favorable action of the Bank of England, with tho result that the latter part of the week was distinctly one of rising values. Apart from the money situation, there was llttlo news to cnuse any marked tendency in either direction. di-rection. Another bank failure was passed over by Wall street as merely a sporadic case. The President's speech was Interpreted Inter-preted favorably because of its more conservative con-servative tone. Outside Public Indifferent. The outside public maintains Its indifference in-difference to "Wall street manipulation. In the past such advances as were scored last week in Industrial Issues like American Ameri-can Locomotive and tho car equipment stocks would have drawn an outside speculative following. Recent disclosures in the Insurance world. Involving- men prominent In public life, have done much to cause a pessimistic nttltude toward nail street operations, which apparently whl not be reversed In the near future. The prosperity of the country at large Ilnds recognition on everv hand, and Indications In-dications point to at least a year of brl.sk busInesH. Highest Level on Record. However. "Wall street is discounting the Improvement In the Industrial .situation until nou-dlvldend-paylng slocks are selling sell-ing nt the highest lovnl on record; whereas where-as the Steel Issues, which should ahare ,to the greatest extent In the business re-v re-v yal. have been comparatively dormant, other Industrials scored gains "in a single .?n,c ? f,?.n " 10 8 Points Comparisons L. ulnu h'B" WvlX reached during laO'J, which w'as confessedly a period of stock market Inflation. In many Instances make prices thou seem low by comparison. Money Demand "World-Wide. While the professional element apparently appar-ently considers the time opportune for another demonstration, it would tjeem extremely ex-tremely doubtful If a successful bull campaign cam-paign can be carried on under prevailing monetary conditions. Although the demand de-mand from (he Mr-st seems lo 'havo reached Its llood. heavy shipments to the Sjouth are likely In connection with the rotton rrop. which should tend to prevent any real ease during the next few weeks, i his might call for lesa conservatism were it not for the fact that tho demand for; money is world-wide, preventing relief from lurelgu quarters. Advices from abroad roiled much tln j;amp conditions us prevail In this countrv. business activity, activ-ity, being marked In pructlcallv all Ea-rope. Ea-rope. Speculation, moreover, has al-o been rife on tin- continent, absorbing money which would otherwise have flowed Into business currents. Foreig-n Conditions Like Ours. The weekly statements of the foreign Government hanks reflect this condition, rtcent Improvement having; been obtnlned only through drastic measures, such as raising discount rates and adding to gold onT)Kf- Ban of England gained 200.060 gold. Its supply, however, being still over $3,000,000 less than a vuar ago ih,. H"JJ,lc of r,ce. desplt... a loss In gold of SSIG.OOO Js more fortunate. Its storo pf the yellow metal being still JS'.UHO.OCO larger than' a. year ago. Thr might Indicate Indi-cate a possible source of rllef in enso of trouble In this market were it not for tho fact that a Russian loan of $200.000 0:0 ;s Impending, most of which will be llnanced by France. London Is buylnx tho ilarrlmnn and Morgan stocks In -i smnll way. but otherwise the foreign orders or-ders are very few Monopoly in Anthracite. As Indicated by the acquisition of Cose Mron. & Co. by the Lehigh Vallev the anthracite coal Industry la becoming iuor6 and more concentrutcd In n tow L-ands. with tho result thnt it Is today almost a monopoly. Coxy Bros & Co control an output of some 2,000,00) ton' and owning as the company does a railroad rail-road of Its own. might conceivably have become a sourco of trouble. Reported negotiations ne-gotiations on the part of tho Hondlnir for the control of Marklo Bros,, another large Independent concern, arc also slir-nincant slir-nincant of the trend toward greater concentration. con-centration. Maintenance of the present stability Is absolutely IndlRpcnsablo to a contlnuanco of the Immense profits It being suited In nnthmclto circles that a return to the conditions prevailing before be-fore the pooling irrnngement would mean in tho case of roods like Reading and Lrlc n struggle to pay fixed charges. Southern Pacific May Rise. Men who watch the tape closely believe that Southern Pacific is going up several points at least In the near future, A man who is In a position to get good information in-formation said that hn would rather have Brooklyn Rapid Transit and Southern Pacific than any other two .stocks on the list. seems to be confident that dividends divi-dends on the laltpr Issue will bo bogun very early next year, perhaps in January Janu-ary and that the first declaration Is liKely to bo 1 per cent. It seoniB to bo CTt:tl. t,hat Allls-Chalmci-H common stock will have an advanco soon In proportion pro-portion to that in American Locomotive nnd American Cnr and Foundry. Tho earnings of this company aro large. Copper Decline Unlikely. There seems to bo no genuine disappointment disap-pointment over the failure of the Amalgamated Amal-gamated Copper directors to Increase the dividends. According (o good Information, Informa-tion, the renson for not Increasing It was not a matter of earnings, but of policy. It seems to be expected that unless tho metal trade changes very materially ma-terially within the next three months, the rate will bo Increased to a C per cent basis In January. A motnl expert expresses ex-presses tho opinion that the market for copper might possibly bo In a more healthy condition at 15 conta than at 17 It has been tho policy of the Interests In the trade who largely control tho price to keep It nt about 15 cents., but the demand de-mand has been so great that It seems next to Impossible to do so. Jt Is not believed be-lieved that tho stocks of copper aro moro than normal and no matorlal change In tho price of the metal Is looked for. Of courso the consumer would welcome a substantial decline, but It Is not expected. Steel Stocks Features. Special significance should not be at-tnched at-tnched lo the reported selling of large blocks of United Slates Steel common. It Is understood that much of tho selling wna due to a fear on the part of a few operators that tho market might have a rather sharp decline. There is good rea-boii rea-boii for believing that the same men who sold bought back agnln. The Steel stocks nro likely to bo tho features of tho market mar-ket In tho near future It Is naturally expected that United States Stoel com- mon will b the leader, but moro noticeable notice-able advances aro looked for In somo ot tho minor Issues, like Tennessee Coal and Iron nnd Sloss-8hcfIleld. Jt may bo taken as a fact that large houses representing repre-senting men who havo been among tho biggest holders of the United States Steel securities slnco the organization of tho company have been heavy buyers for gome time. At least ono of theso houses was buying heavily around 37 when tho reported heavy selling was in progress. Some Hailway Gossip. Although tho security never has moved rapidly, the heavy buying of Southern Railway common for many weeks and the bright outlook for the company are expected ex-pected to advance this stock to 40 or more without much difficulty. There haa beon good accumulation of Chicago Great WcBtcrn common and It would not bo surprising to seo this stock advance sharply to 25 or higher. Men who are in a position to get good Information on tho BUbJect say that something of importance im-portance Is being worked out with respect re-spect to the Westorn Maryland. It Is understood that Insiders aro willing to take all the stock offered. Hoads Need Equipment.' American Car and Foundry nnd Pressed Steel Car have attracted some notloe. The conditions which underlie tho valuo of both are so nearly the same as those which underlie American Locomotive that one cannot have a great rise without with-out sympathetic movements In the others." If the railroads are prosperous and need now equipment, all equipment makers will prosper The railroads aro certainly In as much need now of additional addi-tional equipment as they ever were. In spite of the great Increases In this respect there exists a shortage of cars on practi-. cally every great rnllroad. Reports from the Iron and steel trade Indicate tremendous tremen-dous activity In that branch of the country's coun-try's Industrial activities |