The Washington herald., 1913-11-16
NEW YORK COTTON.
WALL STREET GOSSIP

Commercial-Traders believe that every
unfavorable factor has been discounted
Herald-Efforts TO break prices by Of
fering securities down are far from sue
cessful.
American-Attacks on the market are
repulsed and all efforts to advance prices
meet with a frown from the banking
interests
Walt Street Journal-The market acts
in such a way as to suggest that II
would be comparatively easy matter to
produce a sharp rise in prices.
Sun-The market shows a strong under
tone. despite Irregular changes.
Post-lmprovement in industrials Is suf-
ficient to give traders the feeling that
the bear side has been pretty well ex-
plotted.
Irregular recovery OF a creeping char
acter on account of the technical posi-
ton and signs of betterment Is some OF
the important factors.
The absorption of Great Northern in
cludes some direct foreign buying.
SpeciaIties being buIIed by some of the
commission houses now include Can,
Goodrich. Central Leather. Interboro
preferred, and Tennessee Copper.
The position of the short interest is
declared on competent authority to be
critical Private borrowing is heavy
in the active issues. especially Steel.
Scale down absorption occurs every
time Union and Southern Pacific show
weakness. High-grade houses are buy
ing.
Stop orders for account of some Of
the Boston professional bear crowd are
reported to be just above the market in
Reading and 'Lehigh Valley.
Notwithstanding the European busi
ness dullness, there has been consumed
a record tonnage of copper metal. This
is being used to suggest the buying of
copper shares, the idea being that
with improved business the metal will
boom.
Inquiries in three principal trades
develop no uneasiness over tariff con-
ditions in the next six months.
Private advices are referring to the
restriction and contraction in trade as
likely to cut living costs.
The head of one OF the largest cor
porations in the country says: THE
severe recession in business, particularly
in steel and copper, is not due to the
Mexican situation. While settlement
of the Mexican trouble may help mat
ters somewhat, such development can
have no permanent effect We would
have had a natural reaction in steel in
the absence Of tariff changes and the
trouble in Mexico. or course. these de-
velopments have accelerated the down.
ward movement So far as corporations
and industry in general are concerned
more disturbance has been caused by
the statement that another trust bust
ing" campaign is to .be iraugurated, than
by anything else II there are to be
sweeping Federal attacks on corpora
tions the present depression will be pro-
longed. Sane legislation would do more
toward restoring confidence than any
thing else"
Clark, ChiIds & Co. been principal
sellers of Missouri Pacific this morning.
The falling of In steel output over the
last week was more severe than reported
at anytime since the downward move
ment began. Several months ago finish
ing mills were operating more than 30
per cent of capacity. compared with So
per cent at the present time. There are
indications of a still further decline AS
a result of lower prices and decreasing
operations the earnings of some steel
companies have been cut almost in half.
November promises to be very lean
month In earnings, and December will
establish another new low monthly
record for the year.
Sugar planters face estimated loss of
more than sl00O0ooo through failure to
move crop unless Southern Pacific strike
is soon settled. General Petroleum Com
pany of California passes to control o:
British syndicate.
London prices are generally higher. The