The Washington herald., 1920-11-25
MARKET TAKES :
IMPROVED TURN
vetsrsas Bsssvs Wsrst Fssasss Il
Csiss b Nsw
Passed.
GAINS OFFSET THE LOSSES
Disastss fer Beam See. n Upward
Tread fer Three
Days.
GAINS OFFSET THE LOSSES

NEW YORK. Nov. f4-one Of the
veterans OF the market. who boasts
nearly forty years experience in
the puriieus OF the street" sum
married the existing situation ss
the ticker ceased its humming. as
follows:
We have seen the worst" he
said The liquidation has been like
an epidemic. The height Of the
contagion has passed. We may have
sporadic outbreaks of weakness
here and there. just as I'm the case
Of a plague, but the stage Of sx-
treme viruience n behind US. and
the trend will be toward improve
ment"
G.i,s oasef Le,ses-
whether this metaphorical dag
nosis accurately sums up conditions
may be a matter of contested opin-
ion, but the action of today's mar
ket seemed to bear out its verify
for all practical purposes. Weak
spots again made their appearance,
it is true, but losses generally were
offset by gains
The position Of the shipping
shares was again put to a test. and
Atlantic Gulf and West Indies ana
United Fruit were rather confident
ly sold Pacific Mail closed at a
net loss of nearly 4 points on small
transactions. Among the rails,
Texas Pacific was subjected TO rath-
er drastic pressure. New Haven
rallied fairly well in response to
q reassurinE statement from the
president OF the company to the
effect that fears as to the compsny's
future had been exaggerated and
that prospects were hopeful for a
readjustment of rates which would
mean an increase in the roads in
come
Sentiment Hopeful.
Generally speaking. market sen
timent is more hopeful and this is
particularly the case with the tape
readers" These expert analysts
Gall attention to the fact that this
was the third day of improving
tone and generally rising quota
tions and that such a market phe-
nomenon spells disaster 20 bears
who have delayed too long in COW
ering their commitments
Among the special market devel-
opments was a sharp rise in Pitts
burgh and West Virginia, with buy
ing based on renewed rumors Of
segregation of the coal and rail-
road properties of the company.
The announcement OF the regular
dividend on Kennecott Copper had
no effect on the price OF the stock,
although there was little Of the
customary selling based on the the
ory that the good news" was all
out
Copper Outcome watched
is awaiting with interest the div
idend outcome on the Porphyry
stocks. Utah is expected to main
tain the present rate but judgment
Is suspended with respect TO the
other issues. II is believed that the
turn in the tide for the coppers IL
not far OF but students OF this class
of stocks feel that the leader in the
next copper boom will come from
some one of the high grade South
American producers where costs OF
mining and extraction are lower
and labor troubles less OF a problem.
The long pull view of the coppers is
very hopeful as world needs for the
metal are far in excess OF prob
able production
Trading quieted down considerably
largely due to the indisposition OF
operators to make fresh ventures
prior to the holidays. Call money
was easy at 6 per cent throughout
most of the session with a reduc-
tion TO Sat the close. There was
further reaction in European eK-
change. accompanied by reports
that the influences causing the re-
cent frmness were only temporary.
In the commodity markets wheat
broke sharply and recovered only
part of the loss. Corn and oats
were lower. Cotton was irregular.
In. .liuhA ...aI.. I'll.