The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-09-17

MARKET NOTES.

In the outside market Amalgamated
was quoted so@k; Centennial-E Eureka
IrS4@S6; Montana, c. & C., 11@A; Gas
& Coke, 8oqS1a.
The declaration of only the regular
dividend on st. Paul was somewhat
on disappointment to enthusiastic
I Followers of the property but the action
OF the directors is looked upon as very
| conserYa tive, and the common stock
today is worth intrinsicaIy more
t without any extra distribution. We are
I conhdent, that ST. Paul at current price
Is good purchase and that Burling-
/ ton, Rock Island and Atchison issues
! shou1d also be bought around current
prices. We consider the whole market
oNsrsold, and we look for very sub
sIantial rally all through the list
Haight & Freese
AT the present time the Amalgamated
copper lnterestes are earning nearly
Twice the p. c. per annum dividend
winch Amalgamated is expected to be-
gin this month or next We have had
somewhat of money panic during the
past week, in both New York and Bos-
ton markets, but it is apparent that
the decline in stocks met with the full
accord of the leading bull interests in
the market These interests have been
endeavoring to get the public into the
market for the past few months hut
without success, and it became appar-
ent that the only way in which a big
broad market could be secured was to
drop prices to point to induce fresh
buying. Ihe best means at hand to
accomplish this was through fear of
tlght money-Corey, Milliken & Co.
There is every symptom of firmness
IN the part of the holders of copper,
ana 1t is impossible to obtain any con-
cession from 1SlAc. Buyers, however.
are ayerse to paying this price unless
IN cases where the copper is urgently
needed, but at present these instances
are rare. Consequently transactions
are somewhat hard to arrange and
trading is light 60,
Centennial shafts on sOsceola. lode are
showing marked improvement. Seventh
level north of No. shaft is especially
Tlca IN nigh grade stamp copper. 1t is
believed locally that Centennial is
slated for sensational advance in the
near future. Kearsarge shaft of Cen
tennial is down 50 feet and will reach
lode where tapped by crosscut about
end of year
There is reason for believing that
somewhat lower prices for sugar will
De seen. There is uncertainty in re-
gard to the result of the agreement
I "LttA llAS SIOGeTS. t.s7Ht
The Boston News Bureau saws that
the rumor that the Calumet &, Hecla
Company has sold 100000 pounds of
copper for February delivery at 1915
| cents is too absurd for contradiction
The Calumet & Hecla is not in the ha-
Dit OF selling copper so far ahead. nor
is there any reason to believe that
consumers have any need to contract
SO far ahead for 1872 cent copper. The
Calumet & Hecla people have copper
1 enough for sale at 1917 cents or any
other price which the law of supply
and demand may establish. They are
I right in declaring that 1S1a-cent copper
/ is a menace to the metal market 7,
4 Is also menace to the copper share
market. In fact, 1874 -cent copper is the
main factor at the present time in.de-
/ pressing cooper shares. Owners OF
! copper shares are well enough posted
/ upon the history of the metal to know
+, that this is an extreme price that Is
| NOT likely to hold through next wear
I II Is, however, true that the present in.
! dlcat1ons are that the price will NOT he
| materially broken the present wear
/ copper of course, huctuates with iror
/ ana steel. and the present demand il
| sueh in this country that all the lake
MINES can probably sell their copper
until Jan. 1 at 1872 cents. But the az.
! erage price this year will probably moi
| be above Is cents, and for the next yea
| not above this price should be recISoned
! on for the years average