The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-08-27

better than the buying il absolutely On
true. know one broker alone who has
bought and transferred TO investors over
500 shares of Montana siuce IL touched
1875. One house alone has bought Tor IN
yestors ID ore than ons-half OF the Mon
tana sold during the past week. IA to
Butte 4 Boston, few people, not actively
trading in the stock. realize the amount
that il being taken out OF the market ana
paid ior."
Treasurer ID. l.. Demmon, OF the Frank
lin Mining Co.. saws: The situation oil
ingot copper, under all conditions. he's
not been so good since have been in bus
mess as il is now. The stocks OF all the
mines. saving the Calumet and hecla'
which il always an uncertain quantity.
are sold wsy up and il is well known
fact that some of the larger mining COM
NAMES in New York as well as Boston
have refused liz cents and higher prize
than that for early futures. The con
sumption so far this year has been about
GO per cent Of the normal, while the ex
ports have been about 20 per cent OF the
production. The consumption was very
small indeed for that time. and with any
revival OF business must nearly, II not
quite. double.
"While the exports OF copper have been
yery large. the market abroad is by no
means filed up and there have been in
ouiries within a few days from foreign
markets for prices for $4,000 or 20, 900
tons at an advance over present prices,
which price was declined. 1t is a well
known fact that consumers have been for
the last ak or seven weeks living from
hand to mouth expecting there would be
a decline in prices, and althoughit is stat
ed that buyers are filled up, there are par
ties right here in Boston who refused one
dav last wesk cash offers from A 1 con-
Germs at liz cents per pound"
A member OF a prominent banking
house, who stands in close touch with the
great leaders in the copper shares market
and who is himself an acknowledged au-
thority on copper matters, says: AFTER
the 1st of September, that il, some time
between September 1 and September 8,
you will unquestionably see copper sell at
TX cents per pound. There are certain
conditions about which the
traders in this market know nothing, but
which are bound TO have tremendous
influence for the better. The stocks OF
copper are much less than people ina
CINE. As to Montana and Calumet sell
ing for more than they are worth, it is
pure nonsense. Montana pays $12 a
year and with the surplus which they
have. and which will be added to. that
stock will stand in a magnificent posi-
ton"
Mr.. W. F. Fitzgerald, the copper spec
ialist, said:
"The price OF copper regulates, in the
long run, the prices OF stocks. The posi-
ton OF copper was never stronger than
today. The mines, az a rule, are all sold
up. Consumers are not carrying any
large amounts of copper, IA the general
among the trade has been
that lower prices for the metal would
prevail. Surface Indications point to a
high rather than a lower copper mar
ket,
"There has been good selling OF copper
stocks by strong parties. and | believe a
large short interest exists. The enormous
dividends that are paid by copper mines,
make them a particularly attractive In
vestment, and holders seem to be reluc-
tant TO part with the better grade oil
copper shares. "-BostOn Financial News.