New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-02-13
Copper Stocks Improve at
Last, with Strength in
Metal Markets.
WAR ORDER ISSUES
NOT SO PROMINENT
Negotiations Over Lusitanla
Case Bring Some Firmness
TO Security Prices.

The continued advance in the price
Of copper here and in London, with
reports of large demands for the metal
for domestic purposes in addition TO
that taken for export, strengthened the
prlce OF copper stocks .ast week and
supplied the principal feature OF
strength to the security market. Some
of the more prominent copper stocks
went TO the highest ever recorded, and
practically all advanced. The movement
had some public support, bat IN the
main dealings last week. like those seen
since the first of the year, were prln-
cipally those Of professional traders.
At the beginning of the week news
Of the Midvale Steel and Ordnance Com
pany's purchase of Cambria Steel
started another food Of merger ru-
mors, and for a day or two stocks OF
steel. iron and similar concerns we're
active at some advance. The war group
benefited little through realization
that actual shipments OF munitions I'M
der last years contracts had generally
either been begun or were soon TO start,
but the war stocks we're irregular and
lost in favor as the week went on.
Dealings in railroads were small, but
prices held steady.
Reports Of industrial concerns made
public during the week showed greatly
enlarged earnings for the year, with
improvement in the last quarter of re-
markable extent These included steel
and copper concerns, powder makers
and so on. As yet there has come little
definite information TO indicate the
amount Of profit TO be made by COM
panies which have taken up ordnance
work as a new venture.
The settlement OF the Lusitsnia case.
indicated at the beginning Of the week,
caused a prompt advance at Mondays
opening and some improvement later.
The improved position of out lnterna-
tional affairs, however brought little
new purchasing. In spite of the warn
ing of the Presidents speeches and the
tone of Washington dispatches, a seri-
Gus outcome of this dispute. months
after the shock of the attack on the
Lusitania, was not expected. The pos
sibilty OF further difficulty over Ger
many's threat 20 sink armed passenger
liners had little influence in Fridays
pre- holiday trading.
The money market showed little or
no change from the great ease 50 long
maintained Cali money was IN album
dant supply at from Ia TO per cent.
Renewals were made AZ the lower rate
except Thurs day, when . per cent was
paid. Time accommodation was little
sought and showed an easier tendency
without quotable change in rates. EX-
pectatiOn that business throughout the
country may draw on reserve centres
for funds in a month or so has rot been
sufficient TO raise the level of return
on collateral loans, and this city etill
gains money from the interior. Mer-
camille paper still in small suDply was
purchased at 3 per cent for the best
grades
In the exchange market brief up
turn in marks sent the rate NJ around
cents 20 1874 for marks. This
strength was not maintained. and b.
the close Of the week there was reac-
tion TO 75i5. an advance Of ~ cents
from the close % the week before