Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-01-15


be- GOOD everything was lovely. It did
not take him an eternity to aeciae .ns.
II might be improbable for him to stack
up his ten to fifteen million collars
Everything was pleasant and no threats
or duress could be complained OF; MS
mind was simply led into a new channei
of thought. There were others.
Harmony Again Prevails.
Al this writing entire harmony seems
to prevail among the iron and steel max
ers, and prices are to be maintained.
This arrangement, however, carries with 1t
a. feature which may not look so good.
The trade is assured not only that there
will be no important breaks in prices
of product. but that there will be no i'm
portant advances. either. This sort OF
thing removes all speculative incentive
on the part of consumers to stock up
ahead. as they have always done al the
beginning Of every business boom here
tofore. 1t would appear to be entirely
safe for them to buy from day to day.
Instead Of taking on a thousand tons
they will feel safe in buying a carload,
or in that proportion. That would ap-
pear to forestall and kill off any hope
Of recurrence of those startling ana
sensational booms in the iron trade which
have electrified business heretofore and
signaliZed the beginning of good times
There may. therefore, be disappointment
in the early handing out of those big
orders which have been so freely pre-
dicted in the sunshine interviews about
prospects.
The Copper Situation.
The copper situation has not improved.
On the contrary it has gotten worse. Pro-
duction does not decrease as was looked
for under the gentlemen's agreement. and
the price Of the metal is weak at lower
prices. The monthly report OF the Cop
per Producers Association was unsatis-
factory. 1t showed a. suspiciously large
export movement, and the information is
heard that supplies that go abroad are
under consignment and are warehoused
on the other side. instead of going into
consumption. Senator Clark voiced his
discomfort over the outlook In very plain
words and the senator, be 1t remembered.
is quite a factor. AS a piece of personal
gossip it may be mentioned that Senator
Clark has just moved into his new pal
ace on 9TH avenue. This establishment
is down on the tax list at 100000 and
probably stands the owner about $lO-
600 COO 1t is the costliest mansion in
America, and has been nearly ten years
building.
Pennsylvania Increased Capital.
The purpose OF the Pennsylvania rail-
road to increase its capital STICK $780,
100000 caused only a mcmentary dis
turbance in the stock market 1t has
become so well recognized that every
dollar that goes into Pennsylvania Is
wisely spent by that corporation that in
creases are taken as a matter of course.
When II completes the present plans of
new financing, the share capital OF this
giant railroad will be $500 600, 600. or very
close to the common stock OF the steel
trust.
Wall street has read eagerly reports of
the argument before the Supreme Court
this week in the trust cases and has
tried to get line on the decision by
what the Justices might say in their COM
ments and inquiries during the progress
of the talks by the lawyers.
Keene's Virtual Retirement.
One of the greatest market manipulate
ors and plungers seen in Wall street dur
ing the last thirty years has virtually
retired from action-James r. Keene. He
has been abroad for several months and
may remain away from New York until
spring. He is now in Italy. Mr. Keene
has been gradually working out Of the
market for three or four years, and for
the last twelve months his operations
have not been regarded as important
Several years ago he made the discovery
that new forces were taking form which
would lessen the chances of success of
Spectators Of his type. who have made
their fortunes trading strictly on judg-
ment and information. He conf1ded to a
friend that the day was not far distant
when money alone would be the control
ling force in the stock market and that
neither experience nor natural gifts would
count against that power. Having built
up a fortune Of $1,000, 600 to 1000. 600 In
speculation. he did not propose to jeop-
n OF