The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-08-04

So much for the stock market. Now. in
the new tariff law is passed; tariff law
which was scheduled TO spread prosper
ity broadcast over the land 4 iter it's final
formalities had been completed in con-
x ess. Since il has been passed, several
large New England manufacturing con-
Germs have passed their semi. annual divi'
dends and many New England mills and
factories have been closed down on ac-
count of dull business. IL is not the in
tention 10 blame the new tariff law for
the dull business aud the consequent clos
ing down of so many mills and the pass
ing OF dividends, but It is ei ed simply to
show the folly Of the argument, advanced
in some quarters, that business men we're
waiting only for the passage ot the new
tarlil bill before embarSing on new lines
of trade or that the delay in the passage
OF the new tariff bill deliyedsthe promised
return of prosperity. The poorcondition
OF business has nothing TO do with the
passage OF the tariff bill, nor Will the new
tariff ha anything to do with the i. =
creased volume OF business when trade
begins TO improve. When merchant
.mDlains that business isdull he forgets
that every year thereare more merchants
in business. that the aggregate amount
OF business is greater, and that each new
competitor reduces the volume OF sales OF
each of the persons already in business;
he iorgets, also, that prices are regulated
by the law OF supply and demand and
that, if prices are declining. the supply is
increasing faster than the demand
That's what's the matter with business;
not the tariff. But business ought to be |
better by and by; the crop situation is
fay orable, which means more money for |
the producers, which money will be spent |
at home for manufactured goods. beside |
making additional traffic for the rail. !
roads-bringing the grain to the sea
b ard and carrying other merchandise !
westward.
The copper market continues firm, but !
unchanged as TO price 1t is
a comparatively dull season now in The
copper trade. Large consumers buy |
their stocks Of copper in the spring and !
'all and are not in the market for sup
plies now. There IL enough hand to |
mouth trade, howevsr, to keep prices up J
n fnn nd
there may be sales If few odd lots at |
slight concessions from current quota
lions, the mining companies are not
pref sing the metal of sale nor accepting
bids for large quantities below the mar.
Set. The mining companies feel conf
lent OF their position and are content to
ill orders already in hand, and wait for
he manufacturers To take the initiative
n negotiating for further supplies during
he fall and winter months. The exports
If tn metal have not been quite az
leavy recently as IN June, but still are OF
air volume and show no appreciable fall
ing OF, While no agreement exists be-
-ween the mining companies, the different
appear to be unanimous
n their opinions regarding the condition
lf the market and there Is an absence of
hat sharp competition for business
which characterizes declining market.
A feature Of the week ia the local stock
narket was the advance in Calumet and
1ecla to $500 per share, the highest
price in it's history. Butte K Boston
stock has been conspicuous for strength,
as has Boston x Montana, although the
alter has been strong on investment
orders az compared with speculative buy
ng of the former, All in all, it has been
4 pretty quiet week IN the copper shares,
general midsummer dullnese, generally,
speculative circles.
EVERETT.