The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1909-03-09
CONDITIONS ARE
IMPROVING
"EfoRTs MADE or Lapcp
SALES OF REFINED COPPER
Al HIGHER pRICE-sIosT OF
1T WENT ABROAD.


NEW YORK. March Sine IRON
and steel movements of last week in
INC s'"SH .-as.ket were the reflection
of the uniform sen,4A,ents of tho
traders. Dealings were sman and
largely in the hands of professional
operators. The disturbing influence
brought upon the steel market is
said to have passed TO some extent
and in that trade conditions were re-
ported to have cleared somewhat.
Price concessions in steel products
We're reported as still in power and
the pointing of wage reductions by
The Lackawanna Steel Co. opened up
that phase of the process of read
1ustments going on IN the steel in
dustry and improvements in copper
have been made.
Reports of some large sales of re-
fined copper at price above the re-
promisYfEage. and of specifications
were circulated III rser transactions
manner and market quotaflDstrative
marked up In London and New York;
Criticism of advance as manipulation
and suspicion cast upon the reports
of sales had the effect of causing
sharp relapses in prices of the cop
per industrials. There followed then
reports of collapse in The copper
market and of open market condi-
lions which met with counter criti-
eism. threw the whole situation into
confusion.
The labor outlook was clouded by
the preparations making for the
struggle in the anthracite trade in
cident to the termination of the wage
agreement on March 81. The de-
mands formulated on the one hand
by the miners and the argument
against the claims published by the
operators represented the grounds
of difference. An incident was the
circulation of rumor of the inten-
ton to shut down the anthracite
mines on April /, until settlement
with the miners should be secured.
The pendeney of the commodities
case decision is one of various in
cidents which directed attention TO
the consideration of government pro-
ceedings against corporations. The
Inauguration of the new president
was studied by Wall street for its
bearing on this subject for the most
part. The determination expressed
by Mr. Taft to adhere TO his prede-
eessor's policies had been known
from public utteranees of the presi-
dent and afforded no surprise. The
financial community processes 10 feel
an assurance of more strict regard
for legal restrictions on the part of
the new president than has been the
rule, and of corresponding gains in
orderly adaptation 10 prospective
changes. There is not lacking an
undertone of questioning whether
the new policy may not prove more
effective instrument against corpora
lions than the old. The refusal of
the New York public service COM
mission TO grant the notifications
asked for in the terms or permission
of the Erie bond issue was another
incident. showing the new bond in
which corporation actions are held.
From the interstate commerce COM
mission came another note in the
same tone in the opinion handed
down in the Spokane rate case. The
rule there laid down for forming
conclusions as To the reasonableness
of freight rates and the explicit pro-
nouncement that recent Great Norl n
ern and Northern Pacific profits had
been excessive. opened mp a field for
conjecture regarding the business of
all the great transeontinental rail-
roads.
The financial community keeps an
attentive eye on the crop news and
the questionable state of the winter
wheat crop is regarded as offering
ground for caution in accepting the
confident assumptions of the future.
Money rates have declined again and
ready absorption of new bond issues
is still reported.