The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-07-01
Our Boston Letter.

DOSTON, MISS, June 20, lOJO'
The copper market has been very quiet
during the past week or two. There is
some business moving on old contracts
including exports, but new orders have
been lacking. Consumers seem to be
able to obtain supplies at current quota
tions of Tx to LIZ cents for Lake ingot
without bidding the market up. As gen.
eral business is somewhat repressed
owing to the presidential campaign and
the unsettling influence of politics it is
not clear how any Improvement can be
hoped for in the copper market just at
present. At current quotations the pro-
ducinG mines are thought to be making
a fair profit, and, so far as dividends go,
the copper mining industry appears TO
be prosperous and has little of which to
complain.
Stock market speculation has been
gagged entirely by the daily outlook in
the political field. Just now the treas
ury's gold reserve is dwindling away
very rapidly and something over $25,-
100000 in gold has been lost since the
last bond issue in February, notwith-
standing the fact that the republican
convention came out flat-iooted for
single gold standard. Partisan papers
are saying that the treasuiy's gold re-
serve is being affected by the possibility
OF free silver declaration in the demo
cratic platform next month, which if
true, shows how little influence the gold
plank in the republican platform has had
although it was claimed that a declara-
ton for single gold standard would re-
vive business, strengthen confidence and
set the wheels OF industry in motion.
Subsequent events show that it has
failed and, instead, a large number OF
mills have shut down on account of dull
business aud the treasury....is losing its
surplus gold reserve which threatens to
make another bond issue a necessity if it
is proposed to keep the reserve up TO the
500, 000. 900 mark.
The Bigelow-Lewissohn securities have
been conspicuous for weakness in the
Boston stock market during the past
week and certificates bearing the name
OF prominent insider have been used fol-
delivery on sales OF Old Dominion stock
The writer understands that a LAX,
bank was pretty heavily hit on account
OF the liz lidatiOn OF the estate OF a Bos
ton broker, who died recently and con
Quoted what is known az a "bucket
shop" The broker advertised to pay
the cost OF kilograms both WAYS OF
o'ders to buy or sell stocks, practice il
which no firm OF good standing INDUCES
The liquidating trustees have not had al
easy time in strengthening out the affair,
OF the deceased broker and it il doubtful
whether or not the creditors will receiv,
one hundred cents on the dollar. Tn,
new house which has succeeded the ole
firm in the business, IL said to hav,
agreed to accept the notes OF the decease,
broker at 30 cedts on the dollar fol
margins.
The Pioneer sensation has been hushet
up, the newspapers very charitabIy re
framing from pressing further investiga
tions. A prominent bullon Pioneer wen
abroad without saying good bye" e
his friends almost Immediately on the ar
rival Of the Californians who brought
suit against the promoters 10 recove
the stock on the receipts for 1000,
shares
Mr.. w. +. Fitzgerald, well known II
copper circles both here and at the Lake
has purchased 165-acre farm in New
Hampshire, where he can water his stool
unmolested by corporation laws or with
out incuring the displeasureo Of sharehold
ers. BEAN EATER.