The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-11-17
COPPER AND COTTON
SIIlL ON WAY UP
)eA1l Street Does Biggest Days Real
Business In All Its Long Gar Ger
OF Stock Swapping.
PUBLIC MUCH IN EVIDENCE
|Hsds Made of Nineteen Gents on Cot
4 con for Output OF Crop, Land for
Planting of Which Is Not Yet
Broken.
ny BROADAN WALL.

New York. Nov l6.-Wall Stree
4oday had one of the biggest days OF
B actuni trading in It's history. Countins
N.Feguiar sales on the exchange, stop
d ned stock. odd lots. trading on TIE
sconsolidated ard on the curb. the vol
ume of business ran wei above ~ ~
90 shares There had been days larg-
IN In apparent business. but that was
when there was no stamp tax and
when floor traders were permitted 10
toss hundreds of thousands OF shares
4 back and forth In wash sales NOW
every quotation means something an
H 10 conservative to say that TO-DAY
business was equal TO any 5000 oeo
shares done in the big bull market OF
xlfteen years ago.
High Records Made.
~ Ht~S records were made IN q dozen
lssucs-absclute high records for a]'
cine. Others made new high records
for the year or stocks moving in high
.4errttorv those that attracted most
attention were Shelters Republic Iron
and Steel Lackawanna Steel. Gulf
state Steel Sloss Sheffield. Chilli, Ana
condns Inspiration, Nevada Consoli-
dated. Miami, Chino. Magma and New
York Air Brake Cotton and copper
also made new high records, as did
every kind Of steel product.
The opening was strong and the
public Immediately took the mark ct
out of the hands OF the professionals,
The latter were waiting for the ira
ditional reaction.
The progressive party carried the
day, however, and the conservatives
were busy protecting their short sa 'es
or running away from the avalanche
OF buying orders.
Cotton and Copper Boom.
,-VrT 4t.-
were trying to decide today whether
10 sell any spot copper At the new
high record price OF 80 i2c pound.
They did offer some at "a l-2c and
bids Of "a cents were received for
\ December delivery. Cotton went half
b cent higher and the question Is now
whether the iron mills and the mines
/. md manufacturing concerns In gen
eral will leave enough free labor in
the South to keep cotton under 90
cents next year. AS much as 10 cents
d pound Is being bid fer next years
crop that is not even planted.
Even the railroads checred up.
Railroad bankers do rot share with
u the railroad managers the worry over
the eight hour law that has been sc
sixillfully press ACCENTED. Westingh mouse
american Can and even Car Foundry
were active.
20 points after running in the shorts
last week, recovered sharply on re
ynewal of the same genuine buyins
that was under way when the shorti
-interfered and forced insiders to d.
X some slaughterhouse work. There Il
- short interest in the Marines alst
ss&hat will have to be attended TO be
sfore long President Franklin ha
d rome to England. hoping to get per
kGIiisSion 10 Use some of the million
HE'D up in that country. 1t is under
.Stood that the British government vii
s$iady give the desired permission Oh
.1cendition that the money ia used L
.puild ships in England 10 be saiIet
.Mnder the B-itish fag
~ Ship building IS extensive just now
but the company would rather bulk
ships than pay "a double war tax.
- Stocks were firm at the close Will
mo evidence of any abatement Of pub
e lie interest