The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-02-03

y
ing back over the record OF daily fluctua-
tious il will be seen at glance that the
tendency has been decidedly towards
higher prices although no startling ad-
vances have been made except In few
local specialties such IA the copper
shares. The average net gain for the
month is 2h points, the average oil the
principal active stocks at the close OF the
month being that much higher than at
the beginning of the month, and frac-
ton oyer points higher than IN the mid
die of December when a low average
price was recorded on account OF the un-
settlement caused by the Cuban resolu-
tons then being discussed III congress.
In commercial circles there ia cheerful
feeling. even with trade somewhat limit
ed, and collections are reported az easier
which is "a fir indication OF general bus
mess.
The copper market has held steady
during the past week and without quot
able change in prices. Lake is quoted at
liz and - cents, but 1t is safe to say
that not great deal OF copper could be
purchased under u nts. The domestic
INJURY for the metal does not increase
very rapidly and is still far from satisfao-
tory, although the export demand is
holding IFS own at the maximum amount
recently attained and promises to sue
coed even last years large total.
New uses for copper are constantly
being discovered which makes a better
demand for the metal both at home and
abroad. One OF the latest discoveries is
that it furnishes cheaper and more
economical covering for railroad pas.en-
ger coaches than the warmth and paint
now uted. Experiments have been made
recently on the New York. New Haven &
Hartford road and the cars which have
been treated thus are proving eminently
satisfactory. A general adoption OF this
method of finishing passenger cars would
create an enormous demand for copper
as well as perpetual demand because
railroad equipment is something which
is constantly being replaced.
Some copper bulls already are talking
Ii and IA cents for copper. but memory
teaches Others not to expect too much,
and the more conservative think that a
II or 10y cent market is sufficient for
all desirable purposes and much better in
the end than higher prices which would
in reaction.
Montana has continued it's phenomenal
rise touching silly Saturday, a gain of
81 points for the week and Butte, Monty's
little brother scored "a gain of $2% to
$12X during the same time. Insiders on
both these favorite speculative stocks
profess TO be very bullish and coDfden-
italy predict still higher prices.
1t is asserted on good authority that
arrangements have been made to extend
the Southern Pacific railroad to the Old
Dominion mine, the nearest station now
being So miles distant from the property.
II this is carried out Old Dominion
should 90 to $50, although persons inter
ested say that $50 is a more likely figure.
have recently come into possession oil
information which leads me to believe
that there is pleasant surprise in store
for Pioneer stock holders. News from the
mine is not circulated now as formerly,
and there has been some pretty good
news recently which ID known to the
management and few stockholders. 1t
would make the stock more OF a favorite
with investors if the management had
adhered TO it's original policy OF publish
ing all the facts about the mine which
the stockholders should know, but, owing
to internal dissentions, this policy was
changed. There have been rumors OF
one or two rich strikes in the mine, but
nothing has been said about the discov-
cry Of new vein of gold and this prob
ably is the frat announcement OF it, A
statement, perhaps an annual report,
will be issued by the Pioneer manage
utuC III dDOuU LWO Wtck6 duu Cuis IcpOTu
may have something to say in regard to
the purchase OF adjoining properties, the
cost OF which was met by the sale oil
treasury stock; at least, it is understood
that treasury stock was used for this
purpose. The company had 10000
shares in the treasury year ago and it
doubtless has some OF it left, although,
how much, is not divulged. There have
been no dividend rumors in connection
with Pioneer for over six months, but
sometimes the unexpected happens, and
right here it might be said that Pioneer
will be one OF the first gold stocks on the
Boston Stock Exchange list to enter the
dividend paying list.
Among the low-priced copper shares
now more or less active none present
more pleasing features or greater posi-
bilities than Arnold. The company will
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