Show ATTACK MADE ON COPPERS Germany Buys Surprising Am Amount 0 U n t Of Red Metal In U S n i D nYno Special Ct to 10 The Co Copyright 1923 1 YORK Oct In 23 23 In the contused ed stAle of o the n- n fi ti financial markets It I 1 difficult In the to discern the pith pith- either eith either er of if securities or of trade on whIch the alue of ot securities de- de pf de Under the activity of stocks continue to sag I to lower level levels a 0 nio mo bleh this week eek has not been In- In Interrupted In oy Dy a tall lally sudden and an hurp a aa AI wag as as the case a week ago These same professional peculators tors Lors and traders the aspect of the situa situa- situation situation tion Ul first in one industry an then In another enother from day to day dar day List Last week eek It was th the seasonal decline In the demand toi fOI notor cars carE and the n ich ich the pro pro- producers pro producers face upon which atress as waslala I Ial The closing do down n of the theila cotton mill In the orld as asals as f ats als t cd as as a Indicative of ot the attItude of the buyers toward ado ad- ad prices and predictions re re il eely made that manufacturer manufacturers I er ers In other lines would find es cc confronted by a aI I milar situation S L BUY COPPER This week seek the attack has been to the rubber and tire trade and to apparent depression In hi the copper market In both there i li h some basis for tor the on The poten potential tire Ure out out- out output put does doe seem to be h e In to consumption and there will 11 all be some It Is also true that there nas been a steady decline In inthe Inthe the price of oC copper metal metah It has een the fashion to explain the sit sit- situation union alt in copper as due tl t to the In- In In Inability ability of Europe to bu buy an cx- cx ex explanation which tails falls however howe In Inthe inthe the cabe of Germany Figures ee e-e e made wade public this week eek sho sho- show show-In In that Germanys Germany's imports of oC copper from the United States the eight months ending AJust 31 81 last Jast were ere ere nearly OfU O U pounds orth worth a amount than was shipped to any other countr country Bankers are unable to explain how these ses were ere ere financed but the lc I LOSE OUT It II is a question of how far factors ha e been dis- dis dis discounted counted in the market price of the thes s concerned In the case of the tire tin trade the outcome usually In situations is that thai the corporations emel ge stronger than before Weaker eaker competitors are eliminated or forc forc- forced forc- forc forced forced ed to c with Ith better organized It is also possible that the resourcefulness of Amen Ameri AmenI American I ca can In Justly will III be demonstrated In the dh dl of of this sort Is said to be going on 1 with Ith the tire producers As to the price of copper It mayS may by S expected that sooner or later lower prices will ill Iii stimulate demand demandS MOCh JoS I J SM LL the Stock market seems to going e reaction itne tn toe tos es are lery cry ery small and It Isery Is 1 very ery ery d whether hether there is any rable amount of real liquidation liqUIdation dation going on It must not be f gott n that men of large ars arp no longer willing except in a afew afew few cases to give lve specula o e sup sup- support sup support port purt tu to a market when the Income tax tac co lector ector takes half halt the p and leu es es the to shoulder shoulder shoulder der all the loss That leaves leases it to th the ln estor 10 estor to fill till the gap ard he works ery ery slowly In the few Cew securities In iii he is a factor such as American I TeI hone and Telegraph the ef- ef ef effect feet is seen In a stead log ot of the I er-I pr e In the case of U S Steel stock It is Interesting to note tl ti at the third quarter share share- share hoden of ot record Increased nearly Investment holdings of steel common no now nol total nearly 80 SO per percent percent gent cent of ot the shares BOND Ol D OUTLOOK lU R Bt Turning to the bond market the theo Is much more cheerful n new w offerings of merIt i Jea ona IY protected meet a Ude Ide Iemand Practically all the high grade londs haie ha been firm and I thIs applies to also While there opinion is great differences of ot ion as to the future of the money market and the opinion Is no sub sub- substantial sub substantial advance is In sight make for tor unsteadiness In bonds lor 1 Morn Mora Important sf still there has been en b en little weakness In speculatiVe bonds even en when hen the correspond correspond- corresponding ing lag stocks tocks were ere being lIy hea sold More confidence has bee In Inthe Inthe Inthe the railroad outlook notwithstanding ing tho thu failure of the directors of the Southern railway to take the thelong thelong thelong long hoped for Cor action on the com corn common common I mon men The o ed agricultural outlook e e ov higher prices for Cor both wheat and corn ha In some degree alla alia allayed ed fears teare of ot a sue sue- suc successful ce tul attack on the transportation transportation transportation suc-I suc tion act In the new elS The matter of the commodity markets Is Important not alone a asfar 1 far an u the price la 18 concerned It hols an al Important bearing on In in- in rial dus-rial markets In |