Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-03-20

the present price of the metal, and In
view OF the growing competition from
the Montana copper mines cannot be
called bright. Work Is being pushed
with all the more vigor on that account
for the completion of the great copper
merger. whereby there is to be happy
blending of low cost and high cost pro-
ducers, followed by a grand unloading
OF the merger stocks on gullible public
Working in Rear Rooms.
The work which is now being done is
in the back Offices of the moving spirits
In the grand conspiracy. They do not
care to attract popular attention to nego-
tiations at this stage of the game. out
in due time will announce the perfected
scheme. Meantime all they can hope to
do Is to support the market and give
1t an appearance of investment and
speculative activity. If the thought has
occurred to them that by the time they
get ready to spring the deal on the wait
ing world the public will be educated
to the gaseous quality of the securities
they will offer for sale and let the thing
alone, they are making no sign. Yet
this is exactly what rs likely to happen,
in which event the merger will fall nat
The general public knows more about
these grand and lofty f1otations Of bal
looned stock than when Amalgamated
was sprung.
A significant and confidence destroying
development is the announcement that
stocks Of copper for the month increased
100000 pounds in spite Of the known
fact that a large majority of leading
producers were working under pledge to
cut their output down 10 per cent Either
the pledged producers were not keeping
faith with their associates or the yield
from Independent mines is increasing ire
mendously. Whichever way you look at
1t there seems to be small possibility OF
an immediate reduction in stocks of metal
unless the demand should increase in
unlocked for volume.
Wall street hears with some alarm that
the important money centers of the mid.
die west are being drawn upon heav-
and in mining developments. They would
really like to have this money for use
on the stock exchange.
Wants Fifty Millions.
The Southern Pacific is making so much
money that the management has called
special meeting of stockholders to .au-
thorize the borrowing of $5O,000.00O addi-
tionaI. No official statement has been
made as to what is to be done with this
enormous sum of money. The SUPPOSE
ton is that the most of 1t is destined for
Mexican extension. Some will, of course.
be applied to the extingu1Shment OF ma
turing Indebtedness.
Wall street has kept a pretty close
watch on strike news this week. The
most impressive bulletins on this SUBJ
ject that have been received relate to the
activity of discontinued 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 their 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 a
revival Of the old cry Of too much Nor
gan And, in truth, the crusade Is pro-
ducing a deeper impression than the Nor
gan following would like to admit. The
disease "Mofganitis'' has not yet become
epidemic.
During the spell Of inactivity on the
part Of the crop killers winter wheat has
been allowed to get fresh grip on it
self Indications now point to crop Of
at least IS per cent The killers had it
all destroyed up to a couple Of weeks ago.
The usual average of So to 80 per cent
is none the less relied upon by those who
have noticed that in the past Providence
has way Of looking after the farmer
around about harvest time.