Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-11-04
The Markets
NEW YORK STOCK MARKET.
Features of the Days Dealings In All
The Leading Stocks.

va, yo,.,, Nov THE bull element
rallied their forces today ana ~ 'e e. W. ~.
tations. The progressed Sroulu3 ~ ,r ,,.'
movement were the steel ana coPpci
trade ldvicos The dealings were cs'lied
highly professional and tlt chortS TO r.
cure higher prices were htipcI ~ ~ aio
needs Of the short interest Wi thl ra !a"
been built up in the course of me rcac
tim this week. The dealings IN liilHd
states steel expanded to large Noluhc
in the neighborhuod Of 80 At Which prize
Sfar,-loSS orders from uncovered SHoltS
seemed to be dislodedd. The short sell
in. of the stock and profit taking became
larger again at u fuithtf lIacti" 'iil, ~
vance making the WaEln% ~ i Spec'u1-
tive contest between forces nearly oar
Hnced At - Us, :; new high level for the
movement little business was done ana
Tie whole market closed very dlll on thc
advance. The principal news tron lIrf
steel trade consisted in the statement on
the IRON Age that huNin" OF steer rails
~ the railroads for 1911 had begun. ne
transactions specified were not laISr, hut
They. we're accepted as evidence that inc
lnnlicy 1t ab~tcntion from buying material
which has been closely followed by th~
railroads during the progress 81 thc fate
hearing WAS being abandoned. ! ne nope
ful statement issued by CHAIRMAN tafE
| of the United States Steel Corporation on
| this, subject the day before came IN Tor
lrenewed consideration and helped the de-
mand for the stock. The dealings Were
| concentrated in their sources ana lllt
| movement was restrained by conSidera-
| ton of the effect to be expected from
| the publication on the 10th of the month
| of the tonnage of untitled orders on the
| books on Nov i. From the loWneSS ~
| the figure ON the first of the preceding
| month ana the knowledge that production
on old orders has been running well ahead
| Of the receipt of new orders, it is bcll"N-
| ed that the coming statement Will snow
| :: new low record for untitled orders.
| ON the side of the copper trade t!!efc
were reports of some Of the principal
producers holding for higher prices and
of sales to foreign buyers of larG'
January. Such reports We're unofiicia
and unconlirmei according to the Gus
tom in the trade. Their influence was
enhanced by inspired limitations Of bet
| ter conditions and higher prices to BE-
looked for in the future, tn" imputati"l
being that the policy Of curtailmcnt o1
output was To be relied on for this re-
suit. London reported 4 decline in The
price Of copper metal today and this har
the effect Of restraining the movement
in copper securities.
| The call money market did not SHOW
the expected relaxation. thc|rate holdin.
at / per cent. or above, for the first timt
in the fall season. The New York City
tax collections are continuing factor il
the money market.
The reported revival of demand fol
steel products and for copper spread IT,
Influence to other industrial securities by
the assumption that Improvement il
, these trades must be followed by genera
increase of activity.
Bonds were irregular. Total sales, pan
value, $2,1i2,"n. United States bonds Were
unchanged ON call.