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Show BETTER BUYING OF COPPER SOON EXPECTED Demand for Metal in Electrical Elec-trical Railway Field and .Manufacturing Is Due Furnished by Harold R. ftmaat Cm, NKW YORK, Feb. IT. Certain large la-t la-t create In tha copper trad look for domea-tlc domea-tlc consumera to be, heavy buyers of the metal be tnn In- next month, Thla la due i the fact that there la said to ha no unemployment whatsoever In the electric railway field, and ih Urge electrical machinery ma-chinery and equipment manufactories continue con-tinue to vk a very satisfactory business. Iurlng greater part of yesterdays ses-aion ses-aion (he main tendency was toward higher high-er price. There was some not a hie earep- 44-lnn- "uch as Baldwin . Locornptlve and Pre seed H(nj Car. both of whl h broke the decreases ah own In thrtr annual earnings reports, and In Allied Chemical and Dye, which waa very weak on tha announcement of the proposed heavy addition to outstanding outstand-ing capital. Hut, as against theae few weak, apota there waa special strength in ship-1 ping issues. Tobaccos and In the harvester! (and fertiliser atocka Thla was an Incident I f much significance. Cndnubtedly, It waa J an n preaaloii of confidence resulting from (the recent recovery in grain and the bet-j ter tone of the cotton market that the alt-, uiitfon on tha farm a has definitely turned the corner. The feature of Importance out aid the stock market waa a further advance In both) sterling; and conl Ineni a I exchange. ,ondon daafia naads ai new hhrw, white- frattea strew 1 up close to their previous top of tha year, and Oeraman marks the aame. Call funds were so plentifully supplied that the rate in the afternoon dropped to $ per rent. Offerings Of-ferings of time tnoney were still pretty light, with no disposition to shade quotations. quota-tions. The Independent steels. It la clear, are operating at a loss ami will show deficits for the first uUarter and nmhahlv for I he second quarter. V-t sum ks like llethtehem, Republic and Urkawannt were ateady again today anil even atnmg The explanation simply Is that all these companies have ample rcaen ea. accumulated during; the war period, out of which to meet any deficiency, provided that this Is temporary, and the belief be-lief la universal that the depression In the steel trade Is a question of but a few months. Railway stocks, which have been lagging for several days, did distinctly better, this beca use of the favorable report on the W In stow bill by the Interstate commerce romiiiisalon of th senate. Thla measure de-aimed de-aimed to make available at once some 1100.-000.000 1100.-000.000 owed by the government to the roada, will now be pressed for paaaaire In the sen- ate with an excellent rhanc of going through. Nome of th buying In th Tobaccos was undoubtedly based upon the return from his vacation, of one of the principal Interests in Retail Storea. American Tobacco, and Tobacco Product a Hut today's strength In t heee. and other tobacco laao simply followed fol-lowed out a quiet accumulation which has been going on for some time based partly upon the expectation of favorable earnings earn-ings etatemema fur IftrO. but still more largely upon the Indlrstlons of an even more prosperous business In 1921. Apparently rrognixins; the trend of call money ra(-a In the outside market, the bankers reduced the lending rate or demand loans to 4 per cent at te atock exchange yeaterday. Interior banka with balances here to lend are said to have be complaining late, ly because their correspondents here were unable to place these funds at the T per cent rale quoted. "If you cant lend the money at 7 per cent, cut the rale to I or lower, and put It to Work." has been the attitude of some of the country banka. Hut then when rates have been reduced in the paPt the Interior banka have had a way of pulling their money heme, tha local bankers bank-ers say. Tribune. The market shows no pressure of real storks for sale and displays a satisfactory Mabiiity while It is wait ins; for something turn up. It Is likely w shall see a continuation con-tinuation of dullness over the Waahing-ton'e Waahing-ton'e birthday holiday, but there Is the reassuring; re-assuring; confidence that the advent of the n-w administration is to give a constructive construc-tive basis on which business Is to be able to work In the succeeding inontha Wool-minn. |