The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1898-02-15

firmer tone recently, owing TO the ao
vance made by the Calumet and Hecla U
it's selling price to Tx cents. For ion'
time past THE company has been supply
ing consumers with the metal at L.
cents and. all its contracts having ex
pired, the management has seen mt u
raise the price az noted. The Calume
and Hecla does business on the WHOLESALE
plan and does not sell it's copper at on'
price today and another price tomorrow
The changes which IL makes 10 it's price
are periodical and practically fixes The
minimum price for the metal for so long
a period as ii contracts to deliver copper
at such price. For some weeks now
smaller mining companies have been OBJ
tanning 1lk cents for their copper, as the
Calumet and aecla has not been In po-
sition to supply the demand In full, but
now that this company has advanced its
price, the other companies will have no
difficulty in charging fully asmuch, which
will make quite a difference in the re-
turns.
Announcement has just been made OF a
deal which was completed early in the
week by which Thomas W. lawson ex-
changes 40, 900 shares OF Butte & Boston
for 1000 shares of Boston & Montana
and $4,000 shares OF Old Dominion. The
deal was surprise to the street. 1t has
been known for some time that Mr.. Law
son controlled little more than one-half
OF the 100000 shares OF Butte & Boston
and interesting Developments were antic
ipated. At Yesterdays prices the deal
showed snug profit Of several hundred
thousand dollars for Mr.. Lawson The
other principals in the deal were kept &C.
eret, but the street knew, OF course. that
only the insiders connected with the
EXPERIMENTATION combination could
have taken part in it. Now that the
railroad to the Old Dominion mine is
fairly under way, there are very good
prospects that the mine will be on the
dividend list by another year and Butte
& Boston. doubtless, will begin dividend
payments about the same time.
1t is expected that meeting OF the
Centennial directors will be held early the
coming week for the purpose OF levying
another assessment. The amount of the
assessment it is said. will be 80 per share
which may or may not be the last assess
ment for some time. 1t will be remem.
bered how indignant the directors were
when the first intimation that another
was pending was made in
this column and how many official deni-
ais were forthcoming as result OF the
announcement. 1t was stated at the
time that only the bear traders in the
81 ock market desired an assessment on
il that is so, the directors OF
the company must now be playing the
role OF bruin. and with a vengeance
which makes thu m the worst enemies OF
the stockholders.
The meeting OF the directors was held
yesterday and an assessment OF $3 decid
ed upon, payable on March 5. As the
NEWS understands the matter, all the
officers OF the company denied was that
the calling OF an assessment had been
decided on when those who wished to
bear the stock said it had. If the News
remembers correctly President Fay IN his
report when be first visited the property,
advised that the conglomerate and o.
ceola lodes should be first attended to,
and that then the Kearsarge lode should
be opened out. The NEWS strongly ad.
vised the opening out of the Kearsarge
lode as beginning in case the amount
raised shouli be spent. AS the NEWS
sees it the directors hayehonestly carried
out their program. There would pro-
badly be no need OF any assessment had
he directors not decided after the presi
dents return from his late visit 60 the
mine to start on the Kearsarge, which
the editor was informed would be recon-
mended by the president. There is everv
good reason for believing that the direc
tors have acted wisely in carrying out
the presidents recommendation.
It has been alledged that the writer
must be bear on Baltic, so it would not
be out OF place to state that E. erett Is in
no way interested either in the welfare
or the hardships of the enterprise, but
always feels it his duty to warn his read
ers against what. in his judgement,
appear TO be unwise Investments Baltic
may prove bonanza, some day, but it
needs no extended comment to show that
it will be long time yet before it can
cut any figure IA a producer and that it's
present selling price will look extremely
high before that time arrives. On bull
such ar has been in vogue for
some time. the stock does not look high,
but there are bear markets as we'll az bull
markets aud things look different when
prices are on the down grade. EVERETT.