The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1898-06-22

BosroN. Mass. June 20. 1898.

Il
: stock broker, like wise, will not hustle
afrer business any more than is necs scar,
to ill orders 10 hand and a quiet stocl
market is anticipated. OF course, il i,
} possible that important Developments il
the progress OF the war will stimulate
trading. but so little attention has been
paid TO the war recently that IT Is not
probable.
The immediate success OF the govern.
ment's new issueoI war bonds is a siQnifi.
cant straw. The demand for the new Is
from small investors has been so great az
TO make il quite certain that the whole
loan will be many times oyer-subseribed
in amounts OF $500 or less. Undoubted-
ly there will be number OF larger CAPT
talsts who will obtain more important
amounts by subscribing through clerks
a d friends, but that there will beuo need
OF the soyernmt mt dickering with syr-
d cate for round amounts OF the loan is
equally certain. 1he government would
have realized much larger return by
selling the bonds TO the highest bidder,
but political exigencies demanded that
the loan be popular one in every sense
OF the word.
The COLLAPSE OF the great wheat deal 10
Chicago came OPPORTUNITY for the bear
traders who have been endeavoring to
make turn on the short side OF the mar
ket. While the price OF wheat was ad-
vancing and the crop prospects we're
bright, it was counted bull point on the
stock market, but now that the bubble
has burst and wheat ia likely to decline
t. it's natural level, it is counted a bear
point on the stock market. It is only a
matter OF changing sentiment on the
part OF the professional room traders
who are on the alert for profit on both
sides OF the market as the occasion may
warrant.
The coppe- market holds firm at RI cent
quotations OF II cents for Lake ingot.
The position OF the market continues
strong and all facts point towards a
steady market for the metal for some
time to come. The figures OF the produc-
ton and exports OF the. metal from the
Uaited States for the month OF May and
the five months OF the year from January
/ were published last week and show d !
an aggregate production for the five
months OF 101, 900 tons, which was a.
O6O tons more than during the same five |
months OF 1895. The exports for the |
five months were SO, 900 tons, an Increase
OF $4,000 tons over the same time in |
1898. This shows an increase OF only
1000 tons in the domestic consumption |
in the past three years in the face OF an
increase OF 81, 900 tons in the output, the
foreign markets taking the surplus.
The copper shares have participated in
the general reaction in the stock market
during the past week. 1t is not strange
that some holders Of the copper shares
have taken profits after the sharp and |
continued advance OF late weeks. That
the prices did not yield more readily to
the selling is to be noted. The lower
range OF values is attracting new buyers
and investment holdings have not been
disturbed, the selling coming principally
from speculative circles. The prospect OF
a steady copper market and continued
dividends on the copper shares makes it
CERTAIN that investors will not be in a
hurry to part with their stocks, as it
would be difficult to find any thing in
which To reinvest their funds better than
the copper shares.
It is reported that recent adyices from
the Sears building people we're to buy
Tamarack. Osceola and Old Dominion
and not to touch Butte. Since then the
three first named have declined and
Butte is higher, which makes one wonder
whether or not the advice was sincerely
given. The slogan Watch Butte" is
sounded throughout the street. How
much Is to be gained by watching Butte
does not transpire, but it is evident that
something is going on which may sur
prise the street in the not far distant
future. Some very shrewd brokers' are
said to be bullish on Butte and there are
rumors OF something about to happen
concerning beth the Butte and the Mon
tana companies, which will be for the
benefit OF the former.
There is more or less bull talk on Pio-
neer gold shares. The company has
passed the early stages of speculation
and now is steady dividend payer with
assurances OF an increase in the present
dividend rate just as soon as the new
dam Is completed and a sufficient supply
of water is assured for the running OF the
stamp mill on iul time 1t is the inten-
ton OF the management to arrange for
water supply large enough to run double
the present number OF stamps and to
double the output which is but little
short OF ZOO tons per month, yielding
IN rho avaraUa ahouf @1c vor ~, e.,