Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-10-05
Copper Boom Suspicious.

pound.
Copper Boom Suspicious.
The copper boom, of which so
much has been said and written
during the last two months, is be
ginning 10 show signs of tagging.
Personally | have little faith in
the inspired stories Of the Off
clai statements emphasizing a
universal scarcity of the metal
and Unsuitable absorption.
why should there be q boom in
copper when the demand for steel
has dwindled so sharply? The whole
movement has looked suspicious, and
a relapse would not be astonishing
Both the metal and the copper shares
recently have been wabbly.
The Governments condition re-
port on cotton. issued Thursday, dem
cnstrates there can not possibly he a
big crop picked
Latest railroad earnings are dis
tinctly bad particularly In net re-
suits Even after allowing for the
fact that the Eastern roads are petit
tioning for an advance, this is not
inspiring Net losses for August
range from S25OOOO to almost $1,000
coo Gin the case of New Haven.
Exchange Business Dull.
Sales Of stocks on the New York
Exchange during September reached
100000 shares, the lightest in many
wears only once, in 1910, have the
September transactions fallen below
100000 shares this century. while
in 1909 the total exceeded 100000 600
shares, and. in 1906, 26,0Oo,0O0 shares
Bouus sales on the exchange fell to
$50. 500, 600 last month. also much the
lowest IN long series of years
The Bank Of England, very unex-
pcylcGIy. raised its discount rate
Thursday. thus plainly warning Amer
lea that IL must not draw gold from
London and warning other countries
not % lean too heavily upon its small
stock Of gold.
The strongest financial groups are
urging caution.
They will not predict lower quota
tious for stocks, but they do state
cmpnaurally that there is no occasion
for expecting any general advance.
already have drawn up a de-
pressing Illustration of recent happen
ings. other matters exercising at
teution and. il might be added. more
ov less anxiety. are.
Radical Statutes Feared.
Confidential reports from Washing
ton say that aggressive anu-Capital
legislation viii be taken up by Con-
greSs at its next session. Several radl-
cal measures OF far-reaChing impor-
lance are looked for, including acts to
extend the principle of government
ownership.
Fear of injurious legislative pro-
posals is potent influence in re-
straiuiDS enterprise in high financial
circles ar this time.
The actual enforcement of the new
tariff viii introduce at least tempo
vary unscttlement in many directions.
Ii no harmonious agreement can be
reached with the banks before the
Oweu-GIass currency bill Is passed,
an upheaval. Il is said. might he pre-
cipitated II a majority of the national
banks refused to obey the Govern
ments mandate ordering them to
subscribe for stock IN the new Of
fetal regional banks.
Lack of harmony between the
United States Treasury and the
cuuutrys bankers is regarded as a
menace that might suddenly cause
trouble.
Finally. the International monetary
situation is not liked, conditions
abroad icing such as to discourage
plans to place any considerable
amount of new American securities
over seas-aud there is no keen in
Qu.ry for tlotations here
I hope il win be possible to present
more cheerful facts and more Opti-
mlStC views in the near future.