Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1909-11-16
The Markets.
49,.
NEW YORK STOCK MARKET.
Features Of the Days Dealings in All
The Leading Stocks.

New York, Nov 15.-Thc upturn in
prices OF stocks in today's market had its
incentive in the greatly strengthened po-
sltlon of the banks disclosed by the
bank statement on Saturday ana in the
corfoboratlVc evidence of the rumorS of
coming copper combination embracing
most OF the worlds great producers and
sellers of that metal. The action of the
copper securities was in itself, strongly
cohlormitory of these rumorS and the
continuance of conferences amongst the
leadlhS interests of those concerned point
ed to the same conclusion. No detailed
information could be secured of the plan
In contemplation, but that it looked t.
some such organization as was involved
III the United States Steel formation by
an exchange of existing securities into
those of huge new corporation and that
1t aimed to bring within its scope the
great foreign copper producers as well as
those IN TINS country, was the current
assumptions The aims of the new com
blnatlon were supposed to include a CEN
trained control of the sale of the copper,
some restriction of production and an
increase In price Whcih it was asserted,
would be moderate and coupled with re-
straiht on the advancing as well as de-
Ginning tendency of the price. The in
suence of the United States Steel Cor
poratlon towards maintaining stable trade
conditions was declared to justify the
hopes of cure by the device of some
OF the evils Of the copper trade The en-
ornouS profits realized out of the United
olcei oFSdnlIdtlon DN lHt STOCK
holders in the constituent companies in
that formation was cited as a possible pre-
ccdent for the present case The leader
snip OF the market swung into the copper
lnduStllalS and there was excited Specu-
latlon in them not only on the stock eX
change but in outside markets. power
ful combination to hold up the price of
copper was looked to hoDefully to bring
numerous minor copper properties into
the range of profitable operations. The
general market was not, at first inclined
to follow the movement in the coppers
with any enthusiasm.
The days market in fact. was spotty
throughout. The Gould stocks were con-
spicuous as a group and conjecture con-
tinued busy over the Missouri Pacific fin
anclal plans, which was reported to con-
template mortgage bond with a CONVEX
tible feature, and, possibly, a subscription
privilege for stockholders Sentiment was
more tranquil over the money position
but there remained conservative feeling
in favor of moderation in the speculation
pending the working out of the year-end
necessities. There is no fear that money
supplies will be lacking for commercial
purposes and hopes are INDUCED that the
speculative position also Will be safe
guarded. The powerful efforts making to
that end are deducible from differences
outside the regular banking channels.
The contraction of nearly $4,000 in the
loan account of the Clearing Hous banks
last week and the small disturbance in
the stock market involved point to other
important sources of relief. Reports that
French funds are placed here meet with