The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-02-10

ual. Coincident with the larger demand
for bonds has been the expansion o
loans by the banks as shown by the week
ly bank statements. The employment o
bank capital in this manner, however, II
not So desirable as il the demand came
from industrial activity and Commercial
expansion. Ia order 20 show the extent
of this movement il is necessary only "a
state that 276 different issues of bonds
were traded in last week on the New
York Stock Exchange which is almost a
maximum number. Notwithstanding
the higher prices recorded there practi'
cally were no offerings.
The large surplus of funds now held by
the banks Is taken 10 mean that loanlng
rates will be easy the greater portion oil
the year There are no prospects OF a
change unless foreign complications arise
OF which there il thought 10 belittle dan
ger at present. The best informed houses
on the Street say that they have no fear
of further war scares and il is confidently
believed that the policy OF the incoming
administration will be adverse 10 stir
ring up our foreign relations
1t is thought that there will be an extra
session OF congress in the spring to pass
a new tariff law so as 10 give the govern
ment sufficient revenue which will pre-
vent, in the future, any unnecessary fears
as 10 the maintenance OF the gold re-
serve. A feature OF the week was the be-
ginning OF the investigation Of the trusts
by committee appointed by the New
York State asse pbly and the industrial
stocks have been trihe weak in conse-
quence A favorable impression has
been produced so far and it is thought
now that the investigation will not
amount TO much. Stocks with an inter
national market have enjoyed a good
market.
IL was a reactionary week in the cop
per share market and it is thought that
a number Of investors have taken profits.
There appeared to be good support to
the market, however, on the reaction
and prices rallied easily. A number OF
disquietng rumors were circulated on ac-
count of the failure of Montana bank in
connection with the Boston 4 Montana's
finances and also on account OF the faIl-
ure of a Boston brokerage house which
made a speciality OF the grain market,
but it was developed that the rumors
we're without foundation. Bulls on the
coppers were not discouraged by the
temporary setback and confidently pre-
dict much higher prices for their favor
ties.
The copper market has not developed
any new features, but has held strong at
l1-Ml2 cents for Lake ingot WITH a
good export demand. With the APP
proach Of spring and the building Of
MANY new electric railways there ought
20 be a better demar d for the metal
which should result in higher prices, al
though il is not expected that il will get
much above 12l cents az the mines will
increase their production TO meet the in
crease IN the demand.
On receipt Of the news OF the fire in the
Tamarack mine, the stock dropped from
$ll9 TO $109H. but recovered quickly
when it was known that the fire was OF
small consequence and that little delay
would be caused thereby,
Pioneer stock went off point TO $4%
on account of the accident at the mine in
which the superintendent lost his life.
Otherwise there has been little feature
to the trading in the copper shares
which have held the recent rise quite well
all things considered.
The low priced coppers have shown
some little strength during the past week
and the management OF the variouspools
appear to have their specialtles we'll in
hand.
The Boston Financial News published
the following on the appreciation OF
the copper shares:
During the past month we have been
hearing complaints on every hand OF the
general poor conditions OF business and
the lack OF animation in trading in the
New York stock market, and it ia ex-
tremely doubtful il the majority OF the
spectators have come to realize the ex-
tent of the remarkable boom in the cop
per shares in this city. or course, this
recent rise has been much commented on,
but as to the actual enrichment of the
many shareholders IN the various proper.
ties little has been said.
"This being the case, a glance at the
past month unquestionably will be oil
great interest and will reveal certain
conditions existing as yet uncompre
hended.
"In figuring up this remarkable ap.
probation in values the closing quota.
tons OF the year 1896 are taken together
with the closing Of January in the pres
eEt year and the gains thus obtained are
applied to the share capital OF the com
panies under consideration giving the re
quired results. In the table which FOL
lows Quincy is given place notwith
standing it's depreciation, on account o
Al a 1T. h.