Show w. w I WISE VISE ONES FOOLED WHEN fl STOCKS RISE i Professionals Begin to Sell But V Smelters Begin Advance t to Close e. e t HIGHEST SINCE THE PANIC f Wall Street Cheered b by OutLook Out- Out J Look and Public Begins r- r r to Buy Again FL I 11 By fly Thomas C C. Shot r- r New ew York April S. S A S.-A A sharp adVance advance advance ad ad- vance In smelters just at the close of t. t the marJ market et today changed the tone of or professional proCessional trading completely r The The- gambling g clement element had begun to sell soil stocks short and antI tho the short line f was growing rapidly when smelters suddenly turned about at 2 1281 1 2 1 and Rd advanced to 1 2 1 1 closing at the I top This Is the thc highest tho the stock has reached s since sinco the hr panic At the Uw same Kimo time call money was lending at nt 11 2 1 2 1 per pel cent while while time money was a drug at 5 1 2 1 per cent up to tol l the end of tho the year Announcement that l Secretary Root i ml might ht resign n from the cabinet had a i cheering effect of sentiment as Vall Wall Wallstreet cc i street believes he Is a friend of ot Thomas F. F Ryan Ran and Is at the botI bott bot bot- t- t tom torn of ot most of the HarrIman Invest Invest- I Banks flanks are aie buying commercial paper freely at 15 2 1 per cent And broJ brokers er report a remarkable Increase In their f- f business Bonds yielding 5 per cent t. t I arc are being swept from Crom the market by a tidal wave of Investment money There mere Is no longer an any talk of ot Importing Im Im- un- un ft- ft porting gold old nor any need of such imports Most conservative e interests t t o ha unlimited funds for pool purt pur pur- poses 1 K Jool Looks s Hor It Is the tho desire of or the leaders leaters to t J have a cheerful market for Cor the next six weeks reeks for tor b by that tim timp the crops crop r 4 will begin ln to cu cut a figure in specula specula- tion It has been 11 a i fortunate thing thins f for fOI the lie stock market that there were no crops to destroy in tho the la last t two L months for chaos certainly would havo have reigned The personal quarrels 4 arc all all all' settled the he monc money question settled the he political atmosphere Is f cleared the lie my mystery is gone gOllo from I IF everywhere and it is Js perfectly plain r- r now flOw ow exactly what everybody e wants f und and d new dangers do o not not terrify Wall all street V The rue copper stocks S are arc being bou bought ht 1 hy by the best people in the lie speculative o V world on the theory theol that with Ith tho conf con- con f of oC tho bu business boom that now seems certain copper can not nol get Set below belon twenty cents In 1907 at least The present dividends ends could be continued even cven with tIC lit teen ecu copper Those who direct tho the destinies of or off orl l f Industrials t ic 8 market und metal are arc shares forward to I. I until te s O t fini om its fear u h nd II t. t c. c vc t u ties ties' sl of ot the opinion tonight ht that t t. t the reaction was about over and that advance might be expected to be begin k again almost Immediately In Ii Uio tho St Street Number umber of oC shares sold toda today S1- S1 Number of shares sold a n a year ear yearL L u ago o samo saino day S. S Par value of bonds bond sold today r. r par value of or bonds sold a year cur ago same day dar it The Tue dividend dl on smelters next time will vilI be bC at the rate of ot 10 per cent is but only onh tho the S per pcr cent will be lar Jar The additional payment will vIlI be made In the Interest of ot everybody concerned con con- corned In the stock at present There hits hns been omo homo hard sledding ii In smelters I The announcement of oC rebates which S- S the corporation has haM enjoyed are arc fadIng fad fad- fad I S. S Ing Jug away Threats made by to build their own o smelters and are arc causing the trust to make voluntary reductions In Its own prices It Is reported but hut the report can not nol be confirmed that H. H 4 H. H Rogers Rogen purchased cd worth of the thc smelter stock at 80 from Crom members mem mem- bers bels of or Gu Guggenheims Guggenheim's party a 0 short time n ago o. o The Tho stock has been heen hea h fI fly ily ov oversold r old and there Is a disposition disposition tion iou on the part of some Insiders to t the shorts But Dut a Pine street L banking house which has been con con- stilted lulled refuses to len lend its support Its support to such a and although the S shorts horts are weak they will probably be permitted to get out i JH cHor Held On Tight ht At the lie first appearance of ot a reaction Y public bu buying ceased entirely tolla today c The reaction was overdue o and tho welcomed It but the they M 4 professionals I c- c wore vie surprised at the lie action of or In- In I Tho The investors it seems do doI donot iM S not lIot want to take advantage of an opportunity op op- op to get et stocks s under the present level le but are willing to bu buy I r them as lon long n as they keep leep advancing S 'S Tho The cheering fact was as that Investors In ri Yf S did not try to unload Almost the en entire entire en- en i tire Uro business of the da day was t- t 5 I Nan lan Many wild rumors have ha been circulated hated In Wall vali all street recently regard regard- jag the standing o of th the t 5 United Copper company Most ost of have been traced raced to the parties t interested in a recent suit against the I company n One report toda today was that S the United Copper company Is paying paying- i its dividend out of or surplus Inquiry J S developed eloped that the company has neve nc y- y paid a dollar of dividends except out of or current earning It has of ot a surplus plus In Jt Its treasury Its earnIngs earnings earn earn- ings logs from da day to day lay are almost twice as much as that which Is required for foa- dividend purposes cs The company has been a heavy lender of or mane mone money this winter and Is said said to have havo earned more molO than 4 in interest I nan Range e of or Prices The range ot of prices was as follows I h. h e. e Am C. C 38 37 r. t 36 37 Am Smelting Smelling 1 0 13 Am Locomotive 65 5 63 65 6 63 j. j G. G 65 Am Sugar 17 17 12 16 Am Wool 31 n 30 SO 30 O Amal Copper 97 97 3 M Ana Ann Copper 63 4 61 6 62 63 Atchison W 97 W 6 I 97 Baltimore and Ohio lOl 1 Brook Rapid T T. 61 61 09 9 61 Canadian Pacific 13 IH 1743 Ches and Ohio 41 n 11 U 41 H 41 C. C M. M I. I and St. St Paul 1 Colo Cob Fuel Foci and 1 I. I 37 37 7 4 36 Erie 23 s g 14 23 3 j Illinois Cen Central trul US US liS Louis and Na Nash 10 1 Missouri Pacific 76 6 4 76 jr 76 Mexican Central 22 Y 22 22 1 M. M M t. t K and T T. 3 36 37 r. i 36 Wi do preferred 66 CG CC J 66 66 New Ne York Central I 1 N. N Y Ont and W. W 33 39 ns s 39 33 a 39 JS l 30 20 Norfolk and West est SO W SO National L I. Lead ad nd 61 61 60 61 Northern 1 3 1674 16 Pennsylvania 1 lG Peoples People's Gas 92 4 93 f 92 92 Z Reading I 40 1111 Rock Island 2 23 22 f 22 2 Rep I. I and S S. S 30 30 O 29 20 Southern Railway I. I 22 s 22 22 2 22 Southern Pacific 55 85 55 hi SI SI t Union Pacific Ul 1 19 lUll U. U S. S Steel 37 m 7 37 H. H do d ro 99 |