Bisbee daily review., 1910-11-01
MINING, MARKETS AND F1NANCIAL
]. P. MORGAN STRONG IN HIS
 OPTIMISM OVER MARKET

CT, Jr. whose abilities mark him for an operator of the first rank in time to come. When Meyer re- turned last midsummer from a tour around the world he quickly dis cerned the bullish possibilities of a dead and stagnant market. He gathered round him a strong fol- lowing and made his principal play in Steel and the coppers. Subse-
 quent events have confirmed the soundness of his judgment. In the big rise in the first-named stock
 last year Meyer made a fortune. That advance was. in fact. conducted to a large extent under the auspices
 of the Meyer interest which is much more closely allied with the
 big banking house on the corner of Wall and Broad streets than is
 commonly supposed. As remarked before in this column the ideas,
 market and otherwise. which the head of that house conceives he leaves for execution to his lieuten- ants of whom Meyer, it is stated in the higher circles of finance, is one of the ablest and most trusted.
 It is matter of interest and comment that the name of H. c. Prick has scarcely been mentioned in connection with the October rise. The former Steel magnate Is said not to have been in sympathy with tn upward movement There is talk. for which no real basis exists of course, that he has been heavily short of Steel common It is re- called. by the way. that at the worst of the first serious depression in these shares six years ago, Fick,s unbounded pessimism i'm peaed him to advocate reduction in the preferred dividend. In this he was voted down by no less pow efful a ruler of men and things than he organizer fthe Steel trust him self. who believed then as he be- ieves now, that the dividends on United States Steel preferred are as secure as those of any stock ,n the list.
 The president of one of the largest financial institutions in New York ,sid to me at the close of the week: The universal belief as regards money is that rates are going to continue relatively low. put sec indications which point he other way. Discounts on the
 - side bavs, gone up nearly An advance in the Berlin r. ,k rate has been followed ,y a rise in the Bank of Engiand's discount rate and cousol5 have made , new low record Here a most significant thing is that mortgage money. which for months has been easily accessible at 4k per cent is not only hard to get at that price, but the New York savings banks are not inclined to put out fnuds at less than per cent. At in terior centers. too. money is hard ening. Now. if trade is Co be more active, which in view of the crops seems probable. we can not hope to avoid an advance in our local money market in my judgment. The outlook would be different if the last statement or the national banks of the country had been different. But the figures set for that of Sept. 30. though by Comptroller Murray.
 really showed little change from the unsatisfactory conditions of two months before, though they were expected to disclose a much im- proved credit situation"
 Some of the big plungers outside of the Stock Exchange. among them
 Judge Burrili have made a real
 killing in the market in a very
 short time. They ''parlayed' their
 commitments to the tune in some
 instances of tens of thousands of
 shares. Burrili is a 100000 share
 player and his operations in Steel
 since the latter crossed 65 are said
 to have netted him a fortune