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Show INDUSTRIAL STOCKS STRONG IN THE NEW YORK MARKET American Smelting & Refining Common Reaches Highest Point Since 1909, Copper Shaies Aie Showing Great Acivity By BROADAN WALL By Inter a o a News er e NEW 1 0RK De 21 Except for pro nou ed tare g and a Uv ty n A.n e ca Sn e ting & Rofln g ommon a d a few other spec a t es pr ce fiuctua ons we e nin portant and narrow today Deal ngs vera a n ost professional an co Tim ss on houses d d pract ca no business I tlal jiri es displayed a strong u dertone but a sagg ng tendency w tl d 1 ness de e oped at the end of he first ha f hour Copper shares were fl n o report that some producers were quo lng 20 cents a pound fo tl e n e a Sme te s led this group ad t was. the center of Inte est t roug out the ses sio America Tobacco was consp cu ous again for its weakness at one time show ng a deel ne of about 5 po nts touch ng a, ne v ow e el fo tl s move menL Ra road earnings announced for November vere ery favorab e but t e a s fa led to s ow with any an mat on as a resu t Commiss on houses a d arge profess onal operators do not look for any decided movement n the genera ma ke for the ren a nder of th s wee in v ew of the approach ng ho da Stee con mon appared to be under pressure b t bear leaders are constantly sel ng It short n preference to other s a es wheh thej n ght be squeezed shou d the market ave a fl p The cose was steady Isew High Level Reached At 104 a An erl an Sme ting &. Ren lng common so d at the h ghest le e s n e 1909 when t touched 105 At that t n e it was paying a d vidend of 4 per cent but t a fo owing 3 ear pajme s to shareho ders were Increased to 5 Ea n ings are expected to s ow a large In crease with the gradual es mpt 0 of operat ons at e Hex can p an s of t e com pan thdrawa b T a of oppo 8 on o a anza s ow be hr ut-e6 a t a b g b ard po e e o k To o e demand rpo ted for cop per me a s a bo a d ng mate a ly n f s g reasons for h actl y n sn o te a af easo s for t e b gh p Ices c e ved fo s e Com nlss on houses report Inc easing te eet n o Moto co npany and the so ks of con panJes affi ated with the a ton obi e nd stry Thev a so report t at t ere b some ten ng from Motor shares by nvestors into the co npany s ocks In eet gat on of the news that the C e ro et Motor company interes 8 con ten p ate tak ng over co ltro of he Gen e a Motor revealed t at e e s a con tro ersy upon the atter a board over the proposed deal Th s b expected to be re flee ed in t e stocs market ovemen 8 of Genera Motors which, rose mora tha 15 po nts toda Busme&s Increasing "Wal street estimates that the Increase n the Uni ed Sta es eel corporat on 8 unfi ed tonnage for December to be pub 8hed January 10 will approx mate 650 00O tons The corporation is sa d to a e rece ved new bus neea at the rate of 0 000 tons a day e nee December 1 or about 26 000 tons in excess of ship n en s Experts figure that e ery ad; ance of $1 a ton n stee pricea mea e add t ona vea evenues of $14 000 0G0 based upon t e p esent sh praentc nh c a e sa d to be at t e rate of 14 000 000 o s a year In add on to the constant hammering of Stee con mon by profess ona bear raders ten arket for the shares s said b brokers to be reflect ng constant ab sorpt on of European offerings of the sha es Some co tend that resumpt on of dlv dend m ght tend to reduce th s 1 qu dat on The e was no ma erlal change n he bond ma Ke |