The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1898-06-16

the former finally came out yictonoos'
Early in the week the reactionists started
ont 60 sell the market, selecting American
Sugar Refinine as the most available
stock to hammer down, but new suying
orders prevented very n q b OF decline
| In the general list and Sugar, itself, recoV-
cred quickly. owing TO the nervousness Oh
the shorts and their anxiety to cover
The week closed with prices but very lit
tie below the highest on the present rise
and slightly higher than the best average
of the wear previous to the beginning OF
the war scare. The market has been
fairly active, total sales in New York av-
eraoine over $50 900 shares and S3,250,-
900 bonds per day.
Market factors have been extremely
favorable recently and the bears have
little upon which to base RAID, except
when the market becomes oyer-bought
and prices react naturally. The govern
ment crop report, recently issued showing
the condition of winter wheat to be quo
per cent against 7Sh per cent last year.
the condition OF spring wheat to be loo .
per cent against 90 per ctnt last year,
and 3. 500, 900 more acres sown this year
than last, is highly gratifying. 1t is DOS
sible the foreign wheat crops this year
NAV cause decline in the prizes oil wheat
here. but the winter wheat now ready Tor
the harvest, will be sold at profitable tg-
ures and add further prosperity to that
already existingin the west. The cotton
situation shows smaller acreage by l.
631 O60 acres, but an improvement in
the condition by 81 per cent. The small
Ter crop is needed to Offset the oyerpro-
duction OF last year and may have
buoyant effectupon prices. The crop sit
uation could not be much more favorable
for the wheat and cotton planters, nor
for the railroads, which will carry the
grain and cotton to market.
The war thus far has served to stimu-
late action and aggressivenessa among the
people. which is all that ia necessary to
revive business and facilitate the move
ment OF trade People have been in the
habit OF blaming this thing or that for
the general dullness of general business,
but now appear to be up and doing, which
makes all the difference in the world in
the results OF their Efforts. speculations
or Investments. Congress has passed a
war revenue bill. which increases taxa
ton. and that without encounteriDg any
opposition. More mopy will flow into
the national treasury, only to flow out
again for the expenses OF the war. and
the proposed government bond issue will
give employment to millions OF idle capt
tai. 1t is possible that the absorption OF
funds by the bond issue may serve to ad-
vance loaning rates. but this is not at all
certain; as it is to be popular loan, the
money will come from all over the couD-
try and the financial centers will not be
drained of surplus funds.
The copper market holds strong at
previous quotations. The demand Tor
the metal is keeping pace with the in
creasing production and the stocks ol
copper on hand are gradually dwindling
both here and abroad. The revival in
the industry, which has been predicted Tor
the past three or four years, appears to
have become reality and the position
OF the producers never was more satisfac
tory than at present. While it is not
probable that the price OF the metal vii
adv an:c more than a small fraction
above present quotations. there is stil
less likelihood OF any immediate decline
The consumption OF copper is growing
cons family and, with better business con
ditions. ia likely to continue 40 to do
The market readily absorbs the increased
output OF copper and holders OF cope
shares feel confident that the future ha
in store for them steady dividend pay
ments for some time to come.
No new Developments occurred las
week relative to the Butte mystery.
gentleman, who has way OF knowing
what ia going on in the coppers, Say
that the mysterious thing about Butte
that the street apparently does not sc
just what has happened. He says it
plain TO him that 1.-The insiders have los
control OF the stock and are trying to &c
it back again, which is the reason n
effort is being made to officially deny th
many unfayorable, not tosay untrue, n
mors circulated about the property
the bears. III the small holders cen
frightened out and the price Of the stoc
made to decline, the insiders would
eager buyers. The insiders had contr
oil the stock when they bought the &c
900 shares sold by the Davis estate II
something less than $3 per share an
, they lost control when they sold it at
: large profit, Just previous to the 81
) assessment. The stock did not go dow
, after the assessment, as was expecte