The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1914-12-14
NEW YORK OPENS
STRONG AND ACTIVE
Railroad and Copper Stocks
Show Gains Over Saturdays
Closing Prices.

NEW YORK, Dec. 14-With a large
number of brokers, imbued with cheer
full sentiment, in attendance. the mar
ket for stocks on the floor of the Ex-
change opened strong and active this
morning. Almost Immediately interest
in other parts of the list was over
Swallowed by the strength and activity
OF the copper group. Amalgamated
had gained three points by noon, sell
ing up to 553s: Nevada Consolidated
reached 1875, an advance of rs over
Saturdays close. while Ray Console
dated was up one point. at IL.
There was. apparently, a large short
interest in copper stocks. and the moro
favorable news regarding trade condi-
tons helped to increase the difficulty
or obtaining supply of those stocks.
The bid price in this city for copper
was 1872 cents a pound, with very little
of the metal offered
Some brokers felt that the market
was going too fast. but by the end of
the first half hour the general list was
strong, with practically every issue
traded IN showing a gain over Satur-
days figures. There was an apparent
scarcity OF stocks, and the factor of a
possible increase in freight rates had
not lost its potency on the bull side.
Stocks of the Eastern roads were nota-
bly, strong. Lehigh Valley sold up 2is
similar gain at 150is, and Pennsylvania
advanced l point to 100.
The strength and activity of Rock
Island issues helped to encourage the
sentiment, indicating a more hopeful
outlook for even the weaker railroad
properties. Erie continued firm with
a fractional gain. and New Haven
jumped points to SEX.
Good gains were made by Northern
Pacific. American Smelling and Rein
ing. and American Car and Foundry.
The strength Of the railroad issues
though unlisted, sold through the clear
ing house at SOS. the price. with divi-
dend deduction. at which the stock
closed on July D. There were later I'M
confirmed reports that this stock had
even sold as high as 80 Union Pacific,
another stock not traded in except
through the clearing house. was equally
strong.
Calumet. Mich. .~repQrts that several
of the companies which were forced to
pass dividends because Of the European
Christmas dividends. The changed at
titudes of directors is due to improved
sentiment in copper mining country. re-
suiting from large foreign sales the in
creasinE domestic demand for copper
ana the announcement of large electri-
fication undertakings by several rail-
roads. In October s. 10000 pounds, or
70 per cent OF the September production,
were exported. The metal is now bring
ing l2s[ cents per pound for immediate
delivery. and Is cents for February de-
Gveries.
DR.. c. W. A. Veditz. commercial at
tache TO the American embassy at
Paris, predicts a complete readjustment
Of commercial relations OF the world at
rHsaT sail
Saturday. Mr.. Veditz SID he believes
that there will be e sentimental boycott
bv the belligerents OF their enemies
products, and that heavy taxes will
necessarily be levied in each country
involved in the war, which will fall
most heavily on the manufacturers of
the respective nations. causing an In
crease in the prices of finished prod
ucts.