Newspapers / The Daily Advance (Elizabeth … / Nov. 2, 1923, edition 1 / Page 8
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Copper Industry To Prosper Is View Of Roger W. Babson Securities at it \eic Low Level for the Year Offer In vestment Di>iM>rtunitY a.s llusiiiexx !s on Sound Hisix and ii Faroruhle Reaction Almost Certain ll> IIOUKII \V. HAIISOX 1921. By TNe Aliiacti Wellcsley Hills, Mass., Nov. 2.?Copper securities at a new ^low for tho year, iv.'ilu d during the last two wee!:s, hive stirrcil the interest o!" t' <? iti\ < -1 The copper industry lias f<>." some time Ik'cii rolling in the -doldrums of low prices and de pressed market conditions. From August, 1921. t!i.ouithout 1922, nnd into the lirst 'lU.irier of this year, prices moved stead ily upward, hi March a tem porary reaction set in and dur-' ing the past seven months the - trend has been markedly down ward. Present quotations are on a par with those of the early . part of 1922. ./Apparent domestic consumption, since the low points of 1921, has continued In an uninterrupted rise. About 700,000,000 pounds were consumed by dometstic manufactur ert during 1.9.21; 1,100,000,000 pounds during 1922. and an estimate for the present calendar year places the amount la. excess of $1,400,000, I a figure, closely approximating that of maximum wir activity during L 1918. | The export situation is compara tively good and Improving Kxport figures have risen steadily from $604,000,000 for the fiscal year ' ending June, 1921, to an amount that will pro ha i>ly exceed 760,000, 000 pounds for the present calendar, year. This figure is in excess of any previous to 1912, and closely approximates the years immediately preceding the war. t During the past seven months there has been no appreciable decline In manufacturing activity. Actual domestic consumption h:is had only ?a siigi.t rocrMinn Kxinnts hmki held well. The h a.slc reason for the present low market is found in the cleaning up of stocks of raw mater.a 1 ^.Jfceld by the manufacturers. The accumulation of such stocks inevitably accompanies a period of Intense activity such as the mills ex perienced last spring, for it then : becomes necessary to keep a larger ; supply on hand to Insure uninter rupted operation? ? With these '? 'greaslng-the-machlnery' stocks now reduced to about normal, fabricators j."must enter the market to cover iiov Orders for copp. r and hmss products. This basic reason for the present low point Is in itself a strong argument for heavier purchases nnd conse quent higher prices. All Indications point to the fact that the stage Is being set for a long awaited buying movement. Nearly every appreciably upward turn in prices has -been directly proceeded by an /abrupt drop in shipments from the refineries to domestic mills. In Septembi r domestic do ? liveries were only 93,000.000 pounds, the lowest since early in 1922 and over 30,000,000 pounds below the average point lor the first eight months of this year. Copper buying has always come in waves. Psychology enters the mar ket In a persistent tendency to follow crowds, and Is often the deciding factor in the direction anil extent of of a price movement. Another in dication of approaching strength is the length and extent of the declin ing market. Since the latter part of March there has been no halt In the fall of copper prices. A study of market fluctuations for the past fifteen years shows that six months is the niaxlmu mtimit of a continued price erend. For the time being these factors will presumably have more weight l' in i:??? market than the relative ?i,i:n? of muck*, production, con .1:1.j?:ii-n. etc. I'ost war production ? n?-l yet been properly adjusted 1 pi-aciltuie consuiiipt ion. I'ntil >[i< h an adjustment is maoe, prices v. ill in- deterniint-d not >o much hy ih- ratio of supply uml demand, as hy ih?- rate of expressed demaud In i:ua form of sale*. that Is. the vol ume of refined copper actually ''hanging hands from producer to 1 oiiituuior: The fact that general Susiness Ih' woiking sldewise and slightly down-' ? ?rtl?the lluhsonchart shows pres ent activity 16 per cent helow nor-! 111a 1?may delay this recovery some-! | what. I The position of the industry. Judged hy Itself, would suggest the , purchase of copper stocks. The [fact, however, that the long swing trend of the stock market and gen ? ral business is still downward is a deterring factor. A single group of sine fcrff cam* Cr~W VTT' run' c o u ii t e r " t o ' the fundamental situation that gov-, erus the entire market. When the bottom has been reached, however, ind the long swing upward is.in 1 order, copper stocks should he wMiong the first to benefit by the rise. "WHAT IS whom; WITH THE WOMEN?"; If Christ should visit the enrth in ! this hectic era of Jazz and dappers and bootleggers gone mad what wot:1'! se? amt what would Iiisj r-icfions to it all? T i.it. in a broad way. is the theme I of Daniel Carson Goodman's stupen i dous drama of human passions.' r'Whatl Wrong With the Women?"] presented by a brilliant all-btar ca.-i ? at the Aikrama tonight. Mr. Goodman lias drawn.hU story; on a huge canvas of cyclonic emo- ( tions. His characters an* real, flesh and blood men and wonn-n, most of [whom move in the swift set of the world s fastest and inost furious me tropolis. Hut lit- aeals not m? rely with individuals. With the facility of the master story teller. Mr. Good man takes a great world problem. I goes right to the core of his subject aud treats it in a biu and Inspiring ? manner. It is in no way an attack on womankind. It is in r. i way a sermon. Hut in tin very magnitude of it* tnattm-ut it ?irive* home a le>- I .-oil the whole worid will be better' for having seen. LARGE NUMBER IN TEXTILE SCHOOL ltaleigh. November 2? The Textile' Department of the North Carolina State College, which is the Textile School of North Carolina, opened up with a registration of one hun dred and sixty day students. These students are mui? all section* or ^he North ? ?ut principally from North Carolina. Foreign countries are also .represented ? China, Japan, Hawaiian 1-iatids and India. The Textile Kuilding will be enlarged during the present year -and new ? lit will added, which will ii'>u*i>t <>f additional machines for carding, spinning, weaving and dye Idk Ad important addition will be an experimental laboratory, which will be equipped with ail the latest machine* for treating; the textile fa briJs. I'luns for the new add tion to the building art* l??*iiifc prepared by J. K. Sirrine & Company of Greenville. South C'-aroliua. NEW FALL STYLES AKKIWNG DAILY Owens Shoe Company Hiiiton liuildiiiK THE KNIT-TEX COAT Made of knit-tex ('lolli which is entirely different from every oilier overcoat fabric it will wear three timet) as long. It's so warm that it can l>e worn on the coldest days of Spring and Fall. Yet so light in weight that you hardly know that you have an Overcoat on your shoulders. ^ ou can see that it is knitted because it looks like a fine imported overcoating. It never wrinkles, never get? out of shape, seldom needs pressing and it will positively outwear three average overcoats. It is made in Grey, Brown Heather, Tan Heather, Dark Green Heather, Light Green Scotch Mixture and Oxford. WEEKS & SAWYER "Where llie Best Clothes Come From" Monte Cristo Up - to - Date A FTEIl n acarfli lhat led through untold hardships the Count of Monte Cristo found the secret cavern. Cold, gems and untold wealth were his. Hut think of this! Every day. simply l>v sprirliii'; a few ininurM running through the adver tising columns of this paper, you can fiml a wealtlie of things lhat Monte Cristo could never knov.. Things that make your life rich in comforts! Countless conveniences that iron out the mechanics of existence! Economies that bring within your easy reach, things that once were priceless! We sometimes overlook the important role that advertising plays in making our lives pleasant and altogether livable. Advertising is as much a part of today's life as electricity, antiseptic surg ery or automobiles. It keeps us up-to-date on the mail) things we need in order to live profitably, happy and useful lives. It presents for our approval articles of all kinds and for all purposes. The requirements of each memher of the family are m ft by advertised offers of good merchandise of proved value. The advertisements save time, money and effort for those who read them and follow their guidance. They arc practical guarantees of satisfaction. Don't Put Down This Paper Without Reading The ADVERTISEMENTS Virginia Apples On GROWN BY MASSEY BROS. STAYMANS, KING DAVID, ROME BEAUTY FOR TABLE - YORK IMPERIAL FOR EVERY USE FROM PRODUCER TO CONSUMER Brock & Scott Produce Co. WAREHOUSE NEAR NORFOLK SOUTHERN DEPOT Week End S p e c i a 1 s I Men's Three-in-One Style (Overcoats; nil sizes and col lars SI 6.75 iii> Men s and ^>ini? Men's inet* Fall Suits, finely tailor ed, all *izes and models Sl.'i.75 /<> S37.50 Men's Uaynstrr Kaineoats Speeial S6.75 Boys" Haiti Sets S t.50-S5.65 Children's Umlirel las SI.00 to SI.50 Children's Sweat ers SI.95 to S3.95 Boys' Hats from 79c-$2.95 Boys' Heavy Wool I'ull Over Sweaters, 28 to 31 S2.95 Boys' Two Pants {Suits S6.75 up It. t. turner & co. ] "TheStar&jorDadand the Boys'' ' Sec us when you are in the market for TIIIKS AND TUBES We ean sell you quality at prices loss than you arc paying. Give us a trial. TIDKWATKK Itl'K K < ()., INC. Water Street "Extra Nice" , Just Arrived Dried Peaches, Dried Apple* Dried Apricots PRUNES 2.?c, 18c, 13c, 10c Hi. For something pooil to cat call 697 or 698 H. L. GAKKETT (.4 round lliv corner) H. C. Bright Co. Largest Jetvflm r*t Ka*tern North C'ami inn FOR TIRES rlflold and Michel for the wonejr L Economy Tire Co. ?!<hhI, Oldflold and Mlclielln the iIres for the uioiiejr invented. ?? V? ?? i'liu .\rnkiS<i" Will* ilmi ill uixmu' STORAGE BATTERIES FOR AM, MAKKS O* ,ARH? KKCHAHUKD AXI) l(t:i'A|RKI> Auto & Gas Engine Works OPTICAL SERVICE DR. J. W. SELIG OPTOMETRIST 521 Main St. ? EiiMbeth Clt/ I NOKFOI.K SOUTHERN R.R. aitnotinrrft | |{<m!ih imI Round Trip l'"nre? to Wu*liiii?loii, N. ( mrouni Rfiiuforl ( iinnly I'nir XOVKMllKK ?, ?, 192:1 Tickets on Mil?- Nov. Gtti-fctli. In dtiMvc and for morning train* of November Oth. Final limit Novem > r 11. 1923. J. P. DALTON. General I'ansenK^r Aic?nt. nov.2.3.5.6 Norfolk, Va.
The Daily Advance (Elizabeth City, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Nov. 2, 1923, edition 1
8
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