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Show COPPER IS SELLING JIT 15H IN EAST J. A. Hogle & Co., J69 South Main street, yesterday received the following digest of financial news over their private pri-vate wires: Twenty rails 83.06, off .ST; twenty industrials in-dustrials 86.83, off 1.14. Financial Bulletin: Southern Pacific is reported from well-informed quarters to he one of the best bought rails. It is estimated that important scale-down absorption ab-sorption will be found on recessions from current levels. Briefly, we look upon Southern Pacific as a very attractive investment in-vestment purchase on market setbacks. Attention is directed by certain conservative conserva-tive channels to the possibility of a great boom in industrial stocks, should trade I conditions now turn for the better, be- 3 cause of the fact that most of the lead- I ing concerns have enormous assets, due j to the war, and are in a resourceful posi tion, stronger than at any time in the past. The Iron Age says opinion is general that the reduction in steel prices will bring out, in the near future, a moderate amount of new business. Independent steel companies are operating at about - GO per cent of their capacity. Copper metal prices were firmer. Large agencies advanced the price of copper to 1oVi cents, and some large contracts were closed at that figure. Oil men have formed an institute to boom the industry. indus-try. Dow Jones says: Buyers of steel products prod-ucts who have been holding back for the past few weeks in placing orders are now believed to be ready to enter the market on an extensive basis, in view of the price rates they will obtain in the steel market. 1 The so-called South American copper j stocks, namely, Chile and Cerro de Pasco, j are in demand. Buying is inspired chief- ly by the belief that the recent sharp re- ; duction In ocean freight rates and the i Tact that these companies are supposed I to be exceptionally low-priced producers ; will enable them to make good profits. ; even at current levels for the red metal j here. Magma Copper passed a dividend on ! its stock at its meeting today. The pre- vious payment was 50 cents, three i months ago. It is reported that large contracts for fuel oil are being entered into by the ! Mexican Petroleum company, i Xew York Stock Letter: The stock j market displayed better form today and ' prices were higher. The street accepted j the foreign news as being more favorable, i and the optimistic utterances of Judge ' Gary regarding the steel trade promoted a willingness by shorts to retire commit- ments and increased the outstanding de- ! mand for long accounts. As far as do- j mestic influences are concerned, there dos not sc-ni to be anything to disturb , confidence in immediate and distant j trade, so I hat in the event of more fa- j vorable developments in Europe secur ity prices can be expected to respond j readily to same. |