The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-03-21

copper merger, whereby there Is to be a
happy blending OF low cost and high cost
producers. followed by grand unload
ing of the merger stocks on a gulible
public. The work which is now being
done is In the back offices Of the NOV
ing spirits in the grand conspiracy. They
do not care to attract popular attention
to negotiations at this stage of the game,
but in due time will announce the per-
fected scheme. Meantime all they can
hope to do Is to support the market and
give it an appearance of investment and
speculative activity. If the thought had
occurred to them that by the time they
get ready to spring the deal on the
waiting world the public will be edu-
Gated to the gaseous quality Of the Sc
curities, they will offer for sale and let
the thing alone. they are making no sign.
Yet this is exactly what is likely to
happe In which event the merger will
fall nat The general public knows more
about these grand and lofty f1otations of
ballooned stock than when Amalgamated
was sprung.
A significant and confidence destroying
development Is the announcement that
stocks of copper for the month increased
6.(O0, 600 pounds in spite of the known fact
that a large majority Of the leading pro-
ducers were working under a pledge to
cut their output down 10 per cent. Either
faith with their associates or the yield
from independent mines Is increasing ire
mendously Whichever way you look at
it there seems to be small possibility OF
an immediate reduction in stocks of metal
unless the demand should increase in I'M
looked for volume.
Wall street hears with some alarm that
the important money centers OF the
middle west are being drawn upon heavily
for funds to invest in western lands and
in mining developments. They would
really like to have this money for use
on the Stock Exchange
The Southern Pacific is making so much
money that the management has called
a special meeting of stockholders to au-
thorize the borrowing of $500oO,o00 ad-
ditional. No official statement has been
made as to what is to be done with this
enormous sum of money. The supposi-
ton is that the most of IL is destined for
Mexican extension. Some will, of course,
be applied to the extinguishment Of ma
turing indebtedness.
Wall street has kept pretty close
watch on strike news this week. The
most impressive bulletins on this subject
that have been received relate to the
activity of disseminated firemen on roads
leading out Of Chicago. Railroad man
ayers with both eyes on their stock ex-
change accounts do hate most awfully
to give up any more of the earnings to
their men than they are obliged to. There
seems to be only one outcome, however.
Some of the bears, for lack of anything
else to do. are trying to bring about
revival of the old cry of TOO much
Morgan. And in truth the crusade is
producing a deeper Impression than the
Morgan following would like to admit,
The disease, "Morganitis,' has not yet
become epidemic
During spell of inactivity on the part
of the crop killers, winter wheat has been
allowed to get fresh grip on itself.
Indications now point to a crop OF at
least Is per cent The killers had it all
destroyed up TO a couple of weeks ago.
The usual average of 81 to 80 per cent
is none the less relied upon by those who
have noticed that in the past providence
has q way of looking after the farmer
around about harvest time.