The Washington herald., 1909-02-03
PRICESMOVEUPWARD
Further Progress Madei inRe-
cent Change for Better.
ADVANCES AVERAGE A POINT
Foreign Money Markets Relax, znd
Thereby Create a More Cheerful
Avoidance OF 4 Balkan Crisis Help
ful Influence-COpper Advances.

New York, Feb IAN upward move
ment IN stocks which was clearly IN its
tncipiency yesterday made further prog.
ress to-day There was also a continua-
ton OF that decidedly more cheerful feel
ing that has been noticed In foreign hnan-
cisI circles since the beginning or The
week.
This seems 20 have been caused pri.
nasrily by the relaxation OF the money
markets over all Europe. consequent upor
the successful termination Of the Russian
bond matter. and. secondly. by the
strongly fsvora5ls impression made. upon
the financial sentiment By the final sweep
ing away OF all obstacles that have hith-
erto stood in the way Of a peaceful con-
elusiOn OF the Balksn difhculty.
Apprehension over the Balkan sItua-
ton ceased to be acute several months
ago. when It became apparent that what
ever points Of difference between the DIFF
1erent countries concerned had simmsred
down 70 g mere question OF money con-
pe1sauon between the parties interested
There have been since then several re-
newals OF diplomatic tension" regarding
the exact amount OF money that should
change hands ii final settlement, but
through the magnanimity Of the Russian
government II releasing Turkey from the
necessity OF making payment OF 3 large
sum OF money due upon ancient obiiga-
ions every point Of dispute IN the entire
snair seems at last 10 have passed away
Copper Market Improves.
Discounts in the last few DAYS have
tended lower and lower therefore. IN both
London and Paris. and there has bsen an
advance in the price OF investment securi-
ties In both these markets. London was
buyer of stocks here today. although
not TO any great extent, but this was the
first tine for a long period in which
London houses have been buyers On net
balance through days business.
Something OF a change for the better
took place In the copper situation again
to-day There WIS a sharp advance IN
the price OF copper in the London mar
kets, where the commodity IS dealt in in
much more speculative way than here.
and there were some indications at home
that the rather weaker tendency IN com
modify prices generally, which has been
the feature OF business during the last
month, was stayed.
An idea prevailed that the first renort
OF the American Copper Producers Asso-
ciatiOn as 10 the amount Of copper stock
On hand. which VII shortly be issued, VII
show that the existing quantity Of these
stocks has been heretofore not a little
exaggerated IN speculative Imagination
Active Issues Advance.
The stock market Itself was definitely
strong in the early trading. and after
period Of duHness around midday. was
strong again N the late afternoon. SO that
nearly AL the active issues closed al an
advance OF over q point An exceptional
advance was made IN American Can pre-
fsrred stock. based. reasonably enough.
upon the exceedingly favorable report Of
the company for the fiscal year, ended
December s.. last.
Despite the great business depression
Of the year, the net earnings Of the com
p8ny decreased only $155. .o0a. while IN the
SUNS spent on improvements the value
OF the comPany's property were heavily
an a~c-oT