The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-04-29
MINING.
Our Boston Letter.

BOSTON, MASS, Aprll -, loSo'
There is little which is new in the do
nestle copper market TO report this week.
Prices are barely steady and there is no
indication OF an immediate change. The
foreign market is irregular in the face OF
large exports from this country. The
latest statistics show that the domestic
visible supply OF copper increased 3,S01
tons during the first quarter Of the cur
rent year, Notwithstanding the fact that
the exports we're more than 80 per cent
OF the production. The production Of
copper in the United States in 1895 was
172, 522 tons, the largest of any year on
record and more than the aggregate OF
all the other copper producing countries.
As has been stated in these letters from
time TO time, it il the over production OF
the metal which ia keeping the prices at
80 low a level. There ~ no complaint OF
n small consumption, although it is not
80 large as might have been expected. on
account OF the business depression OF the
past two or, three years. The mining
companies are obliged to be in the mar
ket all the time in order to keep their
product all sold aud the competition is
so sharp that prices suffer accordingly.
The general situation may be said to
have improved considerably this spring
Business is better and the feeling is more
hopeful than for some time. The ap
preaching elections haye had no i'll effect
on trade asyet, and the sentiment among
business men is encouraging. The usual
spring gold shipments are backward in
putting in an appearance, which is fav-
orable indication and, probably, will les
sen the amount to go out later.
There has been no activity in the copper
shares during the past week. the gold
stocks absorbing what little speculative
interest has been manifested in the min
ing list. MERGED has fuctuated irregular
~, being depressed one day only to be
bid up the next. Semi-oficial reports
from the mine have been much less favor.
able than the earlier estimates of what
the mine was going to do The mill runs
have been disappointing, and various ex-
cuses have been made for the poor show
ing. An assessment of 81 so per share is |
rumored. The par value of the stock il |
sl5 and $40 has been paid in, leaving 50
which can be called. lie was stated some |
time ago that there would be no need OF |
calling Tor any more capital from the |
shareholders and that the mill returns
would be more than sufficient TO pay for |
any increase in the stamping facilities.
The small amount of gold contained in |
the ore, however, makes il look as
though new capital would be needed for |
running expenses. Instead OF selling up |
TO 100, az was predicted by the insiders,
it has declined from 80 to IL, where it IL
at present
The Calumet and Hecla's So dividend
just declared is payable May IL to stock
holders registered April "a This pay
ment will make s45, $500 paid by the
Calumet and Hecla up to date.
Pioneer has held steady at around 81
and Q. There is. little speculative inter
est in the stock, holders evidently being
content to await dividend payments in
stead OF selling at an advance OF nearly
100 per cent over the subscription price.
Most OF the stock il held in small lots
scattered here and there throughout the
State. BEAN EATrp