The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1898-06-29

/
ium delivered when issued) makes
quite evident that nearly the whole issu
ultimately will find its way into "a
hands OF the banks or larger capitalists
as the public will be as eager to realize
profit on it's Investment as IL was &
originally subscribe for the loan. 70
that reason it would have been bette
for the government TO have sold tn
bonds to the highest bidder or bidders
whereby substantial premium woul'
have been paid to the government for th
bonds, TO Say nothing OF the saving {
clerical labor in distributing the bond'
under the present system. There have
been attempts made by some banking in
situations to evade the rules oil the sub
treasury, to accommodate the small IN
diyidual bidders first and then selling the
balance TO those who bid Tor larger
amounts. by securing signatures OF per-
sons who were not going TO subscribe
themselves. but were willing to lend their
names to larger interests which advanced
the cash. Treasury officials, however.
were Tot slow in detecting decomposition
and have taken steps to cancel such sub
scriptions."
While midsummer dullness has been
noticeable in the stock market recently,
influential factors have not changed and
are still bullish. Easy money market
conditions are favorable, although there
is littl. doubt but what a temporary ad-
vance in loaning rates may occur when
the numerous checks. which have BEEN
sent 20 the treasury department for the
new bonds, are presented for collection.
The large issue OF new government bonds
comes at time when the semi-annual in
terest and dividend disbursementsa are un-
usually heavy and the shifting OF funds
for a few days after the first OF July may
result in hardening of rates for while.
Money is in plentiful supply, however. to
good borrowers on long dates aud year
loans are obtainable as low as per |
cent.
General business enters the holiday |
season in q much more satisfactory con- |
lition than last year at this time, de- |
'oite the fact that the country ia en-
gagged in an international war. There is
more activity in trade circles now than
or several years past at this season and
he railroads are making more money
han in long time. The result OF this
las been reflected in the advancing mar
let values in Wall street during the past
wo months, although the past week or
wo has been reaction from the highest
'rices in most issues. The speculative
interests. however, have not gone over
o the bear side OF the market; they have
een taking rofts and will be more ac-
vein the near future in bidding prices up
Yards again. The market needed re-
ction and will start up from a sounder
asis after weak holdings have been
haken out.
Tie copper market appears to be
rifle heavy in tone. Lake ingot Is
uoted at liz as against II cents for
ONE time past and the demand for sup
lies is light. No especial significance is
ttsched to the reaction, other than
hat the usual summer dullnes is affect
* the copper industry the same as
Their lines. Mr.. n. +. Leopold, of Chi
ago, who ia interested in number OF the
lore recent copper mining enterprises at
be Lake, was in Boston Saturday and
quoted az saying: cit should be rem.
mbered that although the American
Upper share market may have been mar
ow in the past the market for American
Upper now covers all the world and
bile we raise two-thirda OF the worlds |
upply OF copper we export more than
We consume and yet the worlds visible
upplyi rs less than one months consume
Ion."
A number OF Boston gentlemen who
gently visited the Lake have returned
Enthusiastic oyer the outlook for some OF |
be new mines in that district including |
be Baltic, the Arnold, the Humboldt, |
be Ashbed and the Arcadian. The last |
AIMED is not yet listed on the exchange,
ut is traded in on the curb and is quoted |
q high as "a; the subscription price was
2. Present indications are that Boston
; iust entering another copper boom
nd promoters OF new copper mining |
are taking advantage OF the |
prevailing sentiment to float their |
chemes. There are reasons for expect
ng much success in this line, although |
he future must reveal the wisG ON OF the |
INVESTORS in buying. EVERETT.
Well! WeIi!! WeII!!! What Is It
NOwy
Why, the Ladies' Aid Society OF the
>alumet NJ. church will be in the Ar
nory again on the Fourth and will ser,