The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-02-26
MINING.
stocks.
BOSTON February IS, 1896
Our Boston Letter.

BosToN, Mass, February "a, 1896.
The copper market appears TO be re
covering from it's late period OF depres
sion. Lake ingot il held strong at los
cents and sale at IL cents is said &c
have been made in New York last week
although the amount, date of delivery
and other particulars were not men.
TONED. The consumptive demand il re-
ported large aud increasing, both for do
nestle and foreign account; at home be-
cause OF the revival in general business
and the wider uses for copper in the cleo
trical field abroad because of these fac
tors and also the war preparations which
are going on all the time in European
countries. AT IL cents per pound for
Lake copper nearly all OF the producing
mines can make fair profit, while some
oil the mines at this figure can pay large
dividends. Producers express a hopeful
view OF the situation and look forward
to an increasing business during the
spring and summer months.
The street generally il bearishly in
clined on Butte 4 Boston stock since the
revelations recently made, although only
semi-otiicially. A story has been crcu-
lated that the insiders plan for the die
posal OF the Davis stock. consisting OF
10000 shares, included the defauIting of
the interest on the 81. SOC, 900 bonds and
the foreclosure of the mortgage. taking
the property for the bonds and wippg
out the stock altogether. This plan would
be unworthy, OF the management of the
Butte x Boston mine, but would not
lack originality, it having been tried in
u number OF instances with great success.
80 far as the insiders we're concerned. Az
remarked in Boston paper few DAYS
ago, IF the management OF the Butte &
Boston mine would publish regular
monthly statements and detailed an
nual report, the insiders might not make
quite so much money, but the stockhold
ers would lose less"
The Butte business has 'qucered" other
copper mining stocks to no small extent
especially those under the same manage
ment as the Butte & Boston mine, and
prices, AZ "A rule, have sagged under a
pressure OF long stock. On the other |
hand, there has been good demand for |
some OF the gold mining shares, which |
have been strong at higher prices.
Pioneer, particularly, has been in good
request and has advanced from 4 10 6k
tpar 500. This company makes regu-
lar monthly reports of its product. re-
ceipts and expenditures, and IL fast be
coming favorite with investors. Dur
ing the past four months the Pioneer
with its old stamp mill OF twenty heads.
has accumulated n surplus OF $50, 900.
OF this amount some $4,000 has been
appropriated to purchase an air compres-
sor and the company recently sold 3d.
600 gold at premium OF h-of-1 per cent
to local bank which had subscribed for
the new government bonds. The COM
pany has an additional stamping plant
oil fortv heads under construction, which
will increase the receipts three-fold, while
the cost Of running the same will not be
much more than at present. The third ,
and fourth tunnels are encounterinp ,
some very good paying ground and are Z
to strike the rich vein within n
couple OF months. The existence of this
vein has been proven, by diamond drill. Q
20 depth OF 500 feet and carries ore
'ssaying from $50 to 800 per ton.
which compares with - per ton for the
ire which IL now being taken out of the a
unnels. BEAN EATER.