Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1899-07-05
THE COPPER SHARES.

The copper mining shares are display
ing a firmness during the midsummer
that is as surprising to the bears as it is
pleasing to the bulls. Few of the many
spectators of Butte expected any ad-
vance in the price of copper shares be-
fore September, when the stock gamb-
ling fraternity, now sojourning at the
pleasure resorts of the east, would re-
turn to Boston and resume operations on
the Boston stock exchange. To the fact
that the copper market is displaying in
creased strength is probably due the firm
ness of the coppe shares.
The closing quotations today We're:
Anaconda. $55.25; Boston & Montana,
S357.50: Butte & Boston, $S1. rs; Parrot.
5 2.75: Utah Con-, $44; Mohawk, $26; Osce,
ola, 500; Tamarack, 1925.
Cf the copper situation the New Eng
land Statist OF Monday says:
From present indications, the past
week Will ultimately prove to have been
most important one in the historoy of the
manW.a cturcrs who have for months
been working unitedly to break the price
GU metal, have lost nerve and again en-
tered the market as purchasers.
While foreign were using
furnace material and old metal in an eff
fort to depress the market, supplies of
copper continued to decrease, The range
- N-&N" - nv NASpOsillou " WeGk-
en-. Statistics of production failed to in
dicate the expected increase, and the Sit
uatlCn held out no promise that the years
output of copper would lie more mar 5
per cent larger than that of last year.
confronted by a market surrounded by
SUCH phenominally strong conditions. it
is not surprising that individual manu-
factuIers broke away and availed them
selves of the opportunity to buy copper
at may, q few months hence. look
like very low prices. IN increased vol
Tune of business has beer noticeable both
at home and abroad. A leading metal pa
per, which has been extremely bearish on
the copper situation, now predicts that a
more generous buying movement Will set
in after the 4th of July.
The revolution of feeling came about
the middle of the week. London's sharp
advance came later. The net advance in
the London market was only about los.
per ton while the New York market adj
Van2ed from 4 to Y cent. per pound,
wi clearly that the present center
OF demand is on this side of the water.
70 what extent the home copper mar
ket has strengthened may be gathered
from extracts from a New York metal
paper. On Monday of last week the fol-
lowing statement was made: I'm the New
YORK market for Lake copper we can re-
port no change from those conditions
which ave prevailed during the week
just past, and prices are unchanged at
1sc., with future deliveries offered at from
Il to II of a cent under the price of spot.
Casting and electrolytic copper are also
unchanged and with only a small bust
ness doing"
On the Thursday following the same
paper said: The surface indications of
stronger markets for Lake copper, which
We reported on Tuesday. are more in EVIL
dence today. Bids of is cents for round
lots are more numerous, and sellers at
under 1874 cents are not at all in evidence.
Indeed, the Calumet & Hecla. and at least
one other large producer, are not enter
tanning offers below 1$N. cents. In cleo
trolytic copper exporters report a more
generous demand from the continent of
Europe, while sellers to the domestic
trade state that consumers inquiries are