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

" l'NAA'As
Copper Boom Suspicious.
The copper boom, of which so
.much has been said and written
during the last two months, is be-
ginning to show signs of tagging.
Personally | have little faith in
'thc inspired stories of the Off
,ciaI statements emphasizing a
universal scarcity of the metal
and Unsuitable absorption.
Why should there be boom in
copper when the demand for steel
has dwinaled so sharply? The whole
movement has looked suspicious, and
q 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
enstrates there can not possibly be d
[big crop picked.
Latest railroad earnings are dis
8tnctIy bad, particularly in net re-
suits. Even after allowing for the
Pact that the Eastern roads are petit
81onng for an advance, this is not
! inspiring. Net losses for August
range from S25OOOO to almost $1,000
poo Gin the case Of New Haven't.
Exchange Business Dull.
Sales Of stocks on the New York
Exchange during September reached
100000 shares, the lightest in many
years Only once, in 1910, have the
September transactions fallen below
+ lo0oo,o00 shares this century, while
IN 1903 the total exceeded 100000 900
Shares, and, in 1906, 100000 shares
Bonds sales on the exchange fell to
so60oo,0o0 last month, also much the
Lowest in a long series of years.
The Bank of England, very uneX
lectedly, raised its discount rate
thursday, thus plainly warning Amer
lca that il must not draw gold from
London and warning other countries
NOT - lean too heavily upon its small
Estock of gold.
The strongest financial groups are
urging caution.
They will not predict lower quota e.
IONS for stocks, but they do state
'emphatically that there is no occasion
ioT expecting any general advance.
already have drawn up q de-
pressing Illustration of recent happen
lhsS. Other matters exercising at
'ention and, it might be added, more
OF less anxiety, are:
Radical Statutes Feared.
'onhdental reports from Washing
Jon say that aggressive anti-capital
legislation will be taken up by Con-
sIess at its next session. Several radi-
cal measures OF far-reaching impor-
yahce are looked Tor. including acts to
eN'end the principle of government
ownership.
Fear Of injurious legislative pro-
.pOSaIs IS potent influence in re-
sIalhlng enterprise in high financial
circles at this time.
The actual enforcement of the new
arm VIII introduce at least tempo
'"[g unsettlement in many directions.
IL no harmonious agreement can be
lealhed with the banks before the
eH-Giass currency bill is passed,
an upheaVal, it is said, might be pre-
l,pIy"ted if a majority of the national
g"i-Ns refused to obey the Govern
''g"' mandate ordering them to
'rabe for stock in the new Of
Aclal regional banks.
Lack of harmony between the
me" states Treasury and the
nou''lI\ bankers is regarded as a
,'.'."Ie that might suddenly cause
sf,,,. .!aI'\, the International monetary
,L,li,on Is not liked. conditions
Fans to place any considerable
amount of new American securities
y. seas-and there is no keen in
9uiry for fotations here.
j nope it will be possible to present
more cheerful facts and more opti-
@.'' views in the near future.