The evening world., 1905-11-02
K4LLSzREET
THURSDAY, Nov. 2.

lN'h'Hh 4 AN'Ns q
A boom In low.prlced stocks IL under
way. The leading forces Of the stock
market are behind this boom. Power
ful bull operators who rave been push
ing up the pr.ces Of high. priced stocks
will now seek to reap rich rewards by
using the bullish spirit that they have
created 10 animate the heretofore dor
nant SHARES OF properties that rave a
low stock market rating, but good pros
poets. These operators calculate, rea-
sonably enough, that there are half a
dozen low-prlced stocks on the list that
are good for a 10 or Is point rise II the
proper stimulus ls applied. The pro-
fesslonal trader Ia relied on to furnish
the stimulus, and the outside Spectator
is expected 10 russ TO the Stock Ex-
change bargain counter with avidity as
soon as he sees cheap stocks Of excel
lent character begin TO rise. John Nit
chell, head OF the Mine Workers
Union, has, unconsciously no doubt,
lent effective aid TO this movement by
declaring that there will be no coal
miners strike. This assurance is turned
into the best kind Of a bull argument
for all OF the coal road stocks. big and
little. Under the impelllng impetus OF
Reading all Of the lower-prlced coal
stocks are expected to deveop vim and
vigor. Particularly lively Manifesto
lions are expected from the Erie is
sues.
The Canadian Pacific pool, which has
been operating In the London and New
York stock markets simultaneously,
turned its attention to-day to the shares
of the Duluth. South shore and At
lantlc Railway. a subsidiary line In the
Canadian Pacific system. These low !
priced shares responded quickly and TIE
price advanced sharply. Brokers' WHO
led In the trading declared that prac.
tically all OF the available Canadian
Pacific stuck rad been acquired by the
pool and that the bullhg OF Duluth
and South Shore was part Of the gen
oral plan OF the pool managers. The
room traders, seeming a quick profit.
Jumped in and picked up several small
lots OF this stock, giving the Issues a
decided ho)m for the time being.
American Smelling and Refining stock
has become one OF the chief objects OF
interest in this market, mainly through
the adrott management OF the control
ling syndicate. Mergers have been
made and additional properties have
been acquired, with the result chat this
company now dominates It's particular
line OF business, The price OF the COM
pany's common stock has advanced
about 100 per cent. within twelve months.
The latest merger accomplished is that
OF the Utah Copper Company, which
has been absorbed by American smelt-
ing, and which In It's turn Is said to
have absorbed the Boston Consolidated
Copper and Gold Mining Company. The
Guggenheim brothers-seven In number
own outright a majority OF the stock
doth common and preferred OF the
American Smelling Company. Careful
Stock Exchange estimates indicate
that there is not more than 1900
shares Of the common stock on the mar
ket. The ~Guggenhelms are believed to
have accumulated about Il per cent OF
this common stock. Brokers who have
been acting for the Smelters' syndicate
predict that this common stock will be
worth 30 within two years, for the
reason that 1t will be paying a 10 per
cent. dividend within that time. An
other prediction OF these pool brokers
is that as soon as the National Lead
Company completes the absorption Of
the L. s. Lead Company, the merged