The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-11-26
HIGHER LEVEL
TO Be REACHED
Wall Street Commission Houses
Advising Purchase Of Standard
Stocks on Present Reaction.
STRONG POSITION OF STEEL
This Is Put Forth as One Of the
Strongest Arguments for
Market in General.

NEW YORK, November 3.-Wau
Street commission houses in general be-
hevo that prices for most securities viii
reach a higher level in the course OF
the next six months. but they are in
clined to preach conservatism in narke.
operations on the bull side az present
owing 20 money conditions and the near
approach OF the assembling OF Congress
II is believed that. barring adverse de-
veiopments in the business world OF
which there now appears 20 be little
chance. there viii be a great expansion
IN stock market dealings in the early
new year. and as consequence, brokers
arc advising the purchase OF good stocks
on reactions 20 hold for several months
Union Pacific. n n per cent stock is
we'll taken on declines: 80 IS Southern
Pacific. Rock Island IS corning 70 tho
front ar an attractive purchase. and bull
talk IS heard on most OF the low priced
issues It r. not unlikely that absorp-
uon % Canadian Pacific by insiders
foresha6ows new rights for the stock
holders. bat even n the shareh oiders re-
ceive nothing further for a time outside
Of tire regular dividend. the stock ought
90 sell higher on its merits. which are
Increasing IN value rapidly. q reflection
OF which IS presented in the tremendous
gains in tire company's traffic receipts.
Toe wonderfully strong position Of the
iron and steel trade naturally - nut
forth as one OF the strongest arguments
Tor the steel shares IN particular ana
the market in general. and reason for
such an argument appears convincing
when one bears IN mind that iron ana
steel trade conditions are considered the
baron eter % trade. Steel NAV be less
prosperous IN periods to come than II is
~ present but II VIII never again be
pauper. AZ least. not in our time It's
usefulness may be superseded In genera
lions 20 come. through discoveries OF
now elements. but present-day people
may make up their minds that their lives
viii be spent in the Steel Age II pros
perity.
F7thonless Mystery.
Fathomiess mystery has been the fea-
ture OF the last week In the market for
mining stocks. New companies have come
into existence claiming 70 own mines in
the Cobalt region IN greater number than
mines exist there. Nevada and Green
water stocks have been strangely huovant
and their activity cannot be accounted
for on known values Of ORES in their
mines There has been talk Of com bination
both In Cobalt and Nevada whiIa so-ue
Western mining con,Nanies have decided
20 'swseten' their old stocks by adding
"a Cobalt property here and there
ffri among Lre STOCKS IN fle Green
water district to be affected are the
Grecnwater and Death VALLEY which is
controlled nv Charles NJ Schwab and
the Nevada Smelling. controlled by Dom
all Gillies. who is associated with Mt
Schwab in many mining enterprises The
reason Tor this excitement is probably
rhat che c-eenwater and Death Valley
and the United Green water. the latter bee
ing controlled BY the Nevada Sneltin-
Company. viii be merged Both are on the
same vein and have shafts IN ore. T. Is
considered wastefui to sink so many
shafts This merger viii probably be fol-
lowed Nv another made up Of the Furnace
Greek Conper Counany. the Furnace
G. eek South Extension and the Furnace
Creek oxide These three companies are
working on the same vein, and the Fur
mace has proved ifs or>s ~ consl7era Vie
derth n must not be understood that
there IS anv of1cial hint Of a combination.
but the logic Of tho situation demands
one. and nowadays canitalists find 70
easy 20 come together. since the Heinzes
and the Amalgan~ated made peace any
thing seems possible in the way ~
combination AMONG mining PEOPLE.