Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-11-15
ACTIVITY ON THE EXCHANGE
Wall Street Accepts as Fact Rumor
of Combine.
BULLS OPERATE IN RAILWAYS
Dealings in These Securities, How
ever, overshadowed by the In
terest in Copper.

Special Dispatch to The Star.
NEW YORK, November 15.-Copper
stocks and related issues constituted the
feature of today's market. They were,
In fact, practically the whole market In
respect to the proportions which they
maintained between activity and strength.
Dealings in some other quarters were on
a respectable scale OF activity and some
sharp advances were scored. but con-
sidering the transactions generally the
interest manifested in the copper depart
ment transcribed that displayed else
where
The stock market opened firm; Anal
gamated Copper. 92a93; American Car
and Foundry. 74%: American Locomotive.
62as; American Smelling 100: Anaconda.
~: Atchison. 120A: Baltimore and Ohio.
1855: Brooklyn Rapid Transit. 76; Chesa-
peakc and Ohio. -; Great Northern pre-
ferred. 143: Louisville and Nashville, 1873:
NJ. h. & T., 4Sas; Missouri Pacific, 70A:
National Lead. SS1s: New York Central,
132L: Northern Pacific, 145: Pennsylvania.
1924 ex rights: Reading. 1862: Rock Island.
4Oh: st. Paul, 1864: Southern Pacific. 129;
Southern Railway, 324: Union Pacific,
22ls; U. S. Steel, 9Os4: Wabash preferred,
531a.
Rumor of Copper Deal.
There was a wealth of rumor in circu-
lation regarding the character of a So
called copper deal which is in progress.
but very little was obtainable in the way
OF substantial fact. Those who might
know could not or would not say whether
the project under negotiation provided
for a copper mne-holdfng company or
for a company designed to act as selling
agent for the principal producers here
should be both a holding and selling
company. At all events, nothing de-
veloped to show that the scheme was
not as extensive and comprehensive In
its scope as was intimated last week.
The general acceptance by Wall street
as a fact that negotiations designed to
strengthen the copper metal industry ana
the position Of important corporations
concerned with ii had been making sat
iSfactory progress under powerful aus
pieces was reflected in the active specula-
tion In the leading issues on the stock
exchange, which seemed most likely to
be affected thereby.
Amalgamated in the Lead.
Amalgamated Copper was the leader OF
the movement. 1t opened wide on 1900
shares from one to two points up from
Saturdays close, and after an interval OF
recessions on profit-taking sales rose to
new high prices.
few weeks ago 1t seemed that nobody
In Wall street would touch the stock
except. perhaps, to sell il. on the ground
that II was the most logical short COM
mitment in the market considering the
situation in the copper industry and the
aloofness and suspicion with which Anal
eamated Copper had come to be re-
garded.
American Smelling and Anaconda fol-
lowed the leadership Of Amalgamated
very closely. Tennessee Copper was
Copper during the early part of the day
was more or less under a profit-taking
pressure. 1t declined very little
The. dealings in Amalgamated and
American Smelling were more than q
quarter Of the total transactions in the
stock market up to noon.
Moderate Interest in Railways.
Outside the copper quarter bullish &C
tivity and sentiment were chiefly re-
fected in the course of Reading. Union
Pacific. Missouri Pacific. Missouri Kan
sas and Texas. Colorado Fuel. Western
Union and L. s. Steel. but the dealings
in all of these stocks together did not
represent the amount of interest which
the copper movement attracted The
strength OF Western Union was taken to
Indicate the possibility, IL not the likeli-
hood. that an increase in the dividend
might not be distant.
Missouri Pacific presumably foreshad-
owed the forthcoming financial plan.
On the other side of the market heavi-
ness was displayed by Great Northern
preferred. American Sugar and Pitts
burg Coal. Pennsylvania. which solid ex-
rights, very firm.
Undoubtedly speculative sentiment
was much encouraged by the 'bank ex-
hibit of Saturday. which was graft
fying surprise after predictions of an
unfavorable showing had been made.
Call money ruled today at per cent
and the time money market was firm
at last weeks rates.