Show T tI Lit t of St Stocks socks S In h in Wall Street Adv Advances Copper Issues S Declared to Present Unusually At Attractive Opportunities VING FOLLO i is from a rece recent t market letter of Charles A. A 1 I. Stoneham Co n It has been pointed out that one of the elements aj augurs for a permanency of ot stock market prosperity Is the healthful condition evidenced in all all' cIa of t se se- se In other words the advances advance during the past six months In fact ever since the signing of the armistice have not been confined to any particular class or kind of stocks stock but have embraced the entire list One by one the various specialties dailies have enjoyed a period of popularIty larity one day It Is the oils the next the steels and at the present time there Is every indication that a long latent interest interest in in- in terest in t the rails Is assuming substantial proportions The most gratifying feature of the movements has been that even after the public Interest has shifted from the one class to theother the theother other no material recessions have been registered In the securities from which attention has been diverted Practically I without exception the entire list after each price swing has shown a greater technical strength than at the beginning of the move This of ot course means but butone butone butone one thing After a long period of uncertaInty uncertainty with values and prices all askew it was only logical that a stock market adjustment was In order With the improved Improved Improved Im Im- im- im proved prospects that adjustment could only be in one direction hIgher direction higher prices Today every element of the situation points to a continuance of of this upward movement Whether It be contended that we are going through a period of ot world inflation or not the result Is just the same If the opinion of some economists be correct that such a condition does ex exIst exist ex- ex we wo can be well assured that the fInancIal fi financial financial fI- fI and banking Interests of the world will readily solve the problems consequent thereto If It there be Inflation there willbe will willbe willbe be an accompanying extension of the credit system of the world that will enable enable en en- able us to successfully meet the situation In other words we will measure up to this Inflation by maintaining business at high levels and by renewed effort At any rate the tha result so faras faras far faras as the stock market Is concerned will be exactly the same We have ample precedent for this statement In the financial history of ot the countries that were engaged In the big wars of or the past These show conclusively conclusive conclusive- ly that In the cycles Immediately following follow follow- ing tag every big war the countries en engaged aged made marvelous strides forward Every new world situation finds an adequate solution solution and and the present Is no exception to the rule We have repeatedly pointed out In this column the tile reasons why we emphatically believe that every phase of the world situation redounds to the advantage advantage advantage ad ad- ad- ad vantage of this country Indeed It will wile willbe willbe be remembered during the days of or gloomy and pessimistic utterance we steadfastly proclaimed our belief that the skies would soon clear and anel that we would enter Into one of the strongest markets of a decade Our judgment has since been happily vindicated W We cannot visualize any combInation combination combination com com- of ot circumstances that can CIU arrest ar al'- al' rest except for a very temporary period the upward march of ot prices and the I constantly improving financial condition of the country Without question this means stock market marlet prosperity for a long I time The thought then arises arises tn In which class of securities may the next move beI be bo expected and In what particular specialties special ties are there the greatest possibilities for I price appreciation This directs attention to the unusually strong position In the copper stocks are are ae gradually moving The metal Is now selling at 22 cents a pound the pound the highest price that has prevailed pre gre- re- re since last March It will be re remembered re- re that Immediately following tha lifting of the restrictions s on the metal meal the price broke from the official fixed figure figure fig fig- ure of 23 cents to 14 cents a pO pound ln J. J rom From rom that time on the advance e has been so gradual that It has not attracted acted Any ny undue notice but the Increasingly strengthening position of the copper is issues sues Is readily evidenced by comparing the low of 14 cents a pound for the metal a few months ago with 22 cents today and every likelihood that till s-till higher high hIgh- er prices will prevail In the near future While there has been considerable talk o o. o a huge surplus of ot copper there Is absolutely absolutely absolutely ab ab- ab- ab no question that the long accumulated accumulated accumulated ac ac- ac- ac cumulated domestic demand will make mak substantial Inroads into this surplus surplus sur sun plus on the tile other it Is la not to be overlooked that the big copper producers have materially curtailed production for fora a long time and today the majority of them are running at t only half halt capacity or less A feature of the situation not lIot generally realized Is that many of the foreign countries are ar now in great need oJ or o use Hie red metal During the tile past week It has become known that England Englana France Sweden weden and J Japan are all In the market marke and that r substantial orders order have been book booked i for both Japan lapan enl ind Sweden weden with every eveY likelihood that a astill astill still further expansion In the demand for fer foreign eign shipments will be made mae There has hae ci been an Inquiry for a It considerable consid consid- erable enable amount of German requirements Everything Indicates that in all lines of construction and in every field of In Industry Industry In- In industry greater efforts and bigger markets than ever In the history of the world are In order It Is only logical therefore to assume that copper the copper the demand for which goes hand In hand with the progress progress progress ress and expansion of almost every other industry will industry will be required In a constantly Increasing volume and it would not be at atall alt all surprising If It the combined efforts' efforts of all our producers were taxed to th thIS the ut utmost utmost ut- ut most to take care of not only this substantial substantial substantial sub sub- foreign demand but the huge domestic requirements the filling of which has been deferred for so long because because because be be- cause of ot war conditions The copper Issues therefore present unusually attractive opportunities at this time In addition evidences multiply that before very long the country will be beIn bei bein i In the midst of ot one of the biggest mining booms that we have ever experienced By reason of the Improved position copper copperI I occupies In the vast plans I both at home and abroad the stocks will naturally be the leaders In this forward movement It appears today as it all the big copper stocks were purchases On the other hand the big speculative possibilities lie in the stocks of ot companIes companies com corn panics which are rapidly nearIng the production production pro pru- stage or which are In control of ot potential copper mines that have not yet reached the shipping stage but by reason reason rea rca son of satisfactory ore disclosures and Ideal geological conditions are likely to tomake tomake make malte the copper mines of ot the future Many of ot these issues have been neglected in the markets for a long time and are available at prices that give promise of ot speculative profits decidedly out of ot the ordinary Mining securities deserve the immediate attention and earnest consideration consideration consideration consid consid- of the discerning trader or in In- In vestor |