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Show OPTIMISM PREVAILS ON SMMMET J. A. Hogie &. Co. yesterday received the following ''digest of financial news over tiieir private wires: Twenty industrials, 10$, up 1.15; twenty rails, S6.2S, off .?S. Spot copper and July delivery held firm at lS?i cents. August, 19 to I3z cents. Financial Bulletin: Comparatively liprht offerings, absence or unfavorable news and a generally better feeling on account of the underlying strength displayed by the market on recessions are reported to ho influencing considerable short covering cover-ing and encouraging renewal of pool activities ac-tivities on the long side of steels, sugars, tobaccos, equipments and farm machinery machin-ery issues despite the coming holidays. The progress published this morning in the equipment situation may stimulate further buying of the railway equipment stocks. H Is said in well informed copper cop-per circles that if tiie Teutonic countries coun-tries 'were to lay in a normal supply of copper metal, considering their vast needs under existing famine conditions in central cen-tral Europe, the surplus metal stock would be promptly absorbed. Bethlehem Steel B. is expected, in well Informed quarters to sell on a par with the common com-mon stock of L. S. Steel during the current cur-rent year and recommendations are being be-ing made to buy it for an investment speculation during market reactions. N. V. N. B. says: Steel common. Inspiration. In-spiration. Southern Pacific and American Locomotive have many friends who are predicting materially higher prices. Renew;! Re-new;! of accumulation noted in shipping shares, especially Marine common. Interborough Rapid Transit's May net after tax decreased $94,P11. Surplus a f-ter f-ter charges, $ US, 36. decrease eleven months" surplus after charges, 5,755,-23S. 5,755,-23S. Anaconda Copper's Juno production, 10,r:iio0 pounds of copper, compared with 13,500,000 in May and 13.750.000 in April. Pierce-Arrow passed the usual quarterly quarter-ly dividend on the common slock on which action on this time was due. Following the directors meeting, it was announced that earnings for fiscal year had been at the rate of more than $5 per share per annum on the common. Creation of National Equipment corporation. with capital stock of $14S.OOO.OOO. which will be subscribed for bv railroad administration and which will issue J'JSO.OOO.OOO equipment equip-ment trust notes for public sale, proposed pro-posed by committee of hankers to reim- burse railroad administration for S400,-I S400,-I coo.oco already spent for equipment. The government assay office has been authorized to purchase silver at ?1 .07 an ounce. On Tuesday price was firied at $J.o$. Previous to that it had been where it had remained since the government gov-ernment hegan to regulate the export of the metal. Hornblower & Weeks says: By July 8 we think all stocks will have started on a new forward movement. K any selling comes in;o the market today on the part o traders who want to be out over the hoi id ays this selling will offer splendid purchasing opportunities. New York Stock Letter: There as quite an Increase in the turnover today and the list as a whole moved into higher ground, particular activity centering in the steel group, and there sterns to be convjeing evidence of accumulation in this type of shares. While the coppers did not do much, still the buying power that wa.s in evidence was of an impressive sort. and. as we have said before, there seems to he definite Indication of a desire de-sire on the part of conservative imprests to transfer their constructive efforts to t"ie steel and exmp'T departments. Quite naturally, the Fircneth manifested In the above mentioned section.- of the list had a sympa the tic effort on other departments, depart-ments, but evidence continues to accumulate accumu-late that stocks u ht-'h formerly enjoyed substantial enhancement in values are meeting more opposition in the way of profit taking, undoubtedly inspired by the belief that many of these H.nie Industrial In-dustrial spec'.alties have discounted present pres-ent and prospective lavoranle features. |