The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-05-23

" N b. copper rose Z- % more 70 Lon
don today. 20 go 1O- spot, si6 los fat
ures closing at the gain, sales $50 and
900 tons re~pectiyeiy. The Calumet and
Heela's sale at IL cents said TO have
amounted ORION 10, GOO. 900 TO - ,OOO,-
600 pounds. and this pretty vel takes
OF the availabIeeop at that price.
the other companies being well sold up,
and 11a cents i quoted Lake ingot.
For the first hall Of MAY stocks OF COP
d. D. Cnuoii-r in England and France and aAost
VIVIAN, Jr", "'.sa from Chile and Australia de-
endeaVor TO na6y no le-= than !, 700 tons 70 &c.
Schumaeners ans; supplies for the hali-montb
streets oil Hancock tons eliveries 9IO0 tone
will undoubtedly be t-.ady dimuution in available
OF this kind this season.. spite Of double receipts
zoe United States this year, CON-
pared with last, i= il any wonder that
-v-' the position q the metal at last has
awakened responsive chord in the
hearts of the Boston traders, and that
copper shares should resume speculative
u attractions.
In view OF the facts that price Of the
metal j. Hqa. cent higher than year ego
that the companies generally selling
moreeopper and making more money that
he increase in exports l. larger than the
crease in production thus Tar in 1896,
" stocks available for home eonsump-
are decreasing. and that II il beeom-
ificut 10 purchase copper at IL
prefguring early advance and even
- more profits TO the companies, il does
seem as il the prices Of the shares had ruled
too low, even in view Of the DISTURBED
s state OF the general market by reason Of
political agitation and Of the shock
caused by the Butte & Boston failure
However, the last-named j. iD the past:
-. copper mining continues profitable; and
the market for the shares very naturally
- becomes animated when attention il
taken from the past and devoted to the
present and future.
Ii should not BE- forgotten that with
copper higher than 10 cents for an
average the Boston-owned companies can
pay a total Of 81 100000 in dividends;
the 1896 average thus far has been much
brier than that, and bids fair 10 be well
- up toward IL cents. u not fully that for
a. the irst hall u the year. The revival OF |
speculative interest in the copper shares |
IL natural and likely to continue aud few |
will argue against IL. anyway. il gives |
chance for profitable turns" 70 traders |
and spectators, which has been lacking |
faye FOR the recent excitement in Bay |
State gas, for many months.
Evidences continue to multiply that the |
domestic copper market IL genuinely firm |
and that il 10 but question OF a short |
time when supplies OF Lake can be Oh |
tanned at IL cents. IL il known that the |
producing companies generally have had |
much better market for copper since
the year began than the in the
early part Of last year-better in amount
Of copper sold and better in prices OBJ
tanned. They getting all OF half
cent per pound more for copper now than
year ago, and probably average that
Yes much better on their sales thus far in
wido, 1896. This means a great deal more
die, money earned, one-half cent advance
of counting for great deal when obtained
on millions OF pounds.
Meanwhile exports Of copper thus far
this year about double the total In
the first four months OF 1895, and this
than offsets gain to supply avail
able for domestic consumption by reason
OF increased output OF the mines. For