The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-07-08

Our Boston Letter.

BosTON, Mass, July q, 1896.
The glorious Fourth is over and the
traders and spectators are returning 10
the street, we'll pleased with the celebra-
ton, il not with the conditions ruling the
stock market at the present time. Am Jng
the mining stocks it has been one contin-
uOus Fourth Of July for rome months
past, so far as fireworks are concerned,
Indeed, it seems as though all the ammu-
milton must have been used up, now that
the summer dividends have been declared
assessments levied, and other unpleasant
surprises have been revealed in the camps
OF the Old Dominion and Pioneer prop
critics. Additional fireworks are looked
for by the Franklin people, who have the
Pewabic suit still on their hands, but
hope TO get a reversal in the court of the
decision OF the special master, Peter
White.
The talk OF an ira dividend on Boston
and Montana is thicker than ever. An
official of the company says hat il is too
SOa'J yNN w Guy VI nDl ull tAlld
dividend will be declared, but that it is
among the list OF possibilities, as the
company is earning large surplus over
the regular So dividends, and, with a
steady cope" market, an extra dividend
will be warranted by the returns. It is
good opinion that two extra dividends
will be declared; that il, the extra pay
ment will be divided-one in August and
another in the fall. The question has
not been considered formally. and will
not be until the directors meeting this
month
There are rumors that the Lewissohn
Bros, OF New York, have bought the
Rosemont copper mine Of Arizona. II
true, Boston il likely to have another
speciality in which to get roasted"
The much-talked-of July dividend on
Pioneer has not been declared vet aud is
not likely to be, so far az can be learned
Ii is jokingly said that Mr.. Hugh Melon
nell took the July dividend to California
when he went a week or 40 ago, and that
heis not expected back again very soon.
The quarterly statement, also, is expect
ed to be published about the same time
as the July dividend il mot declared.
certain stakeholder, who bought Pio-
Leer at 81, has threatened TO bring suit
against somebody, but whether it is the
Pioneer people or some erstwhile bullish
newspapers on the stock is not definitely
known.
The stock market experienced quite a
panic last week and the average of prices
was at the lowest point OF the year. A
rally followed at the close OF the week
and IL is thought by some that the effect
OF the expected Chicago conventions dec.
laratioD Tor free coinage ofsiiyer has been
thoroughly discounted aud that from
now on the general course OF the market
will be upwards on prospect of a defeat
oil the silver candidate in the November
election. Ii il fact that Europe has
been a large buyer Of stocksin Wall street
during the two weeks and that fully go
600 shares have been shipped abroad.
The clerks IN the transfer depart ments OF
several railroad offices have had To work
nights in order to make out certificates
OF stocks bought by foreign houses, and
most OF the stock has been split up into
small investment lots. Whichever side
wins In the coming campaigo, the coun-
try will continue to prosper, notwith-
standing the calamity howlers, who pre-
dict ruin and misfortune for every body II
"the other side" wins.
Copper has been easy ut about TX
cents for Lake ingot and, while the de
mand has not been urgent, producers do
not anticipate declining market. On
the contrary, they look for higher prices
In the TALL. BEAN EATER