The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-05-07

Our Boston letter.
posrox Mass. Nav 4, 1896.


stronger tone is noticeablein the cop
per market, although quotations lot tue
domestic market are but little changed
The foreign demand seems to have re-
ceiyed renewed impetus and producers
are finding better outlet abroad than
at home Tor their copper. Sales at II
cents for Lake ingot iorexport have been
made. while for domestic consumption
10Y cents is a fair quotation. Fubhe
quotations on copper, however, are
thought to be very unreliable ana are
made only for the purpose OF affecting
the copper market and the market Tor the
copper shares, speculatiyely. \ letter
from a well known metal broker recent
ly stated that the writer actually knew
OF purchases OF the metal at much higher
prices than any public quotation then
current aud that the market 10 reality
was much stronger than it appeared on
the surface. Notwithstanding the large
exports OF copper from the United states
to Europe during thelast month, the Tor
eign Visible supply OF the metal abroad
decreased / ,OS0 tons during the last han
of April. The exports OF copper from
New York and Baltimore in April we're
9.4O1 tons, fue, and / ,2G4 tons, matte,
and for the four months ended April 80
the exports 81 $50 tons, against l9,43l
tons for the same period last year. II the
foreign demand holds up TO its present
limit, this will be a record breaking year
in the expectation OF the metal from the
United States. The hesitancy ofthe local
market is difficult 20 explain in the lace
OF the wider uses for copper and the con
sequent larger demand. The increased
production OF electrolytic copper, no
doubt, has had great deal to do with
the lower prices prevailing for the past
several years.
The MERGED burlesque still affords a
speculative lever for the bear traders in
the gold mining shares on the stock ex-
change. Theconstant liuuidationo OF long
stock, which has been going on ever since
the stamping mill started up and which
depressed the stock from 40 TO IL has
puzzled the street some on account OF the
statements issued from headquarters TO
the effect that the insiders had not sold "A
share Of their holdings and that the nine
today was just as good as it was last
summer, when the stock was advancing.
The Post, which formerly was an ardent
supporter of MERGED, less than six months
ago, said in its Sunday article yesterday
that one Of the reasons assigned for the
decline in MERGED was the ability of few
bear traders TO perform a lOaYes and
fishes Misunderstanding the few hundred
shares floating on the street and make
thousands Of shares out Of them, and still
have reams Of stock left after feeding all
the lambs who were induced Co buy at
the higher prices OF course, be meant
TO be sarcastic, but, at the same time,
was much in earnest and only reflected
one Of the milk and water theories pro-
mulgated by the insiders for the decline
30 as to cover up the identity Of the real
sellers OF the stock.
The general situation in business and
financial circles seems to hinge on the
presidential campaign and the currency
planks TO be embodied in the platforms
OF the two large political parties. Unless
things are going 20 be very much differ
ent than heretofore, the currency planks |
will make no difference ia future legisla. |
tion, as everybody knows that political
platforms are not made 20 stand upon /
after election. BEAN EATER.