The copper country evening news., 1898-05-19

creasing, those reported Tor the month OF
April show an Increase oi l6 per cent
over April last year, an against an IN
crease OF 15S per cent for the four months
ended April 30. These salient features oil
the situation are not TO be disregarded.
Business might be better than at present,
and Il has been great deal worse, even
when there was no war In progress to
cause unsettlement and apprehension.
The stock market last week held strong,
closing little higher, on the average
than a week ago. There has been good
deal of foreign selling OF our securities
in Wall street. but the increased invest-
ment buying here has resulted In absorb
ing the foreign sales. The European no
uidation has caused an advance In sterl-
ing exchange rates, and falling on IN
the influx of gold, but some gold stii'
continues to come this way. which may
be accounted for by the high price oil
wheat AID the European purchases of
that cereal The exports OF breadstuns
from the United States in April amounted
10 more than S27, 100000 in value
against S12 100000 in value in April
last wear. The increase OF more 100 per
cent was largely due to the higher prices
received this wear than in 1897, although
the quantity OF the exports YVES consld-
erably heavier. 1t is believed that
sharp decline will take place in the wheat
market ere long. as there are very good
prospects of much greater harvest this
year. while foreign countries may be aoie
TO produce a normal amount OF wheat
this wear against crop failure last sea-
son, 40 that the European demand Tor
American wheat will be proportionately
less, The impression is gaining ground
that the recent heavy selling OF our secur-
tiles by European bankers have been due
to the gathering of foreign war clouds,
tor it certainly has not been induced by
anythiog unfavorable IN the outlookhere
for transportation interests or for indus.
trial enterprises.
The copper market closed this week
firm at II cents for Lake ingot. Large
sales have been made at this figure, which
appears to be the minimum price Tor cop
per under present conditions, With the
promised increase in the production OF
the metal. it is difficult TO see how a de-
cline In the price well can be avoided. un-
less the consumption makes a remarkable
increase. OF which there are noimmediate
prospects, At II cents for Lake copper,
all the larger mining companies are max
ing bonanza profits and it is not to be
expected that they will restrict their out
put with a view to keeping the price up
to the present level. The high price. also,
stimulates activity on the part OF the
smaller mining companies and, alto
gether, it looks as though the production
soon would be running far ahead OF the
consumption.
The bear party in Butte 4 Boston stock
has resumed operations and statements
! purportipg To come from the west, but
really eminatiDg from Boston, are beine
circulated to the effect that 1t will be a
least year before the mine will be prop
erly developed and that, by that time
the capital, created by the reore aniza
tiop, will have been exhausted. Tn
company is more than earning all its ex
penses and charges at the present time
and such stories hRyehad no influence o.
the stock.
1t is reported that the question OF tn
next 0sceola dividend will be decide
some time this month, and that it is like
ly to be 81 so per share instead OF onl
81 as generally expected.
With Arnold stock I'D to SIS per shar'
J people who buy copper stocks for inycs
ment have come to regard 1t somewha
, differently than when it was selling an,
} where's from 81 to SO, with addition,
! assessments expected. The good shov
} ing in the mine. according to all reliab
) reports from the Lake. have created
heavy demand for the stock which a
9 counts for it's firmness in the marke
. There has been no attempt at profit ta
y ing OF any account and all offerings
0 the stock have been readily absorbed.
0 ia estimated that. as at present opene
o the mine will be in a position to beg
Q active production next summer ar
. should earn from 80 to$3 per share fro
q the start. Allowances should be mad
o OF course, for the bulish enthusiasm, b.
it must be admitted that the outlook
: certainly bright. EVERETT.