Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1900-01-22
Bear Side of Market Should
Cease to be Popular.
CONDITION IS HEALTHY
Lower Priced Shares Have Been Paid
For Outright-Today's
Market.

Under the heading 'The Prospect Of A
Boom in Coppers," the Boston Financial
: News, deals thus editOrially with the
subject:
t. While it is undoubtedly much easier ia
present the bear side of the question after
a long period of declining quotations,
than when prices are abnormally high,
we are strongly inclined to believe that
the time has come when the bear side of
the local stock market should cease 10 be
the popular one. Speculative waves are
always irregular, n it is not therefore
essential that a long period of dizziness
should intervene before another upward
movement. as was the case previous to
the last boom in the Boston market.
Practically all of the arguments from
the bear standpoint are aimed at the cop
pers. If the copper market is being held
up by unnatural methods, II the financial
strength of the Amaigamated interests
has been overtaxed. or the present hold
ers of copper stocks can be depended up
on to avail themselves of the first oppor
tunity to dispose of their holdings, there
can certainly be no ground for hope that
bulllsh activity will be renewed. It seems
to US, however. that one of the rumors
here suggested refutes the other, and
that a consideration of all Of them will
cause one to be warranted in the belief
that the cOppers are in a healthier con-
dition now that they have been at any
times during the past several months.
1t is hardly probable that the managers
of the ~Amalgamated Copper company
would be arranging to largely increase
the output of their Anaconda. Parrot, and
other mines, If they were overloaded with
cornered supplies Of copper. Fictitious
support Of the copper market could re-
suit in nothing else than the accumula-
Of the supporters. If the market price
of copper has been so sustained at a high
level. what have become of the supplies,
and how are they kept out of sight Of the
English metal brokers, who have hunted
high and low for MARTIAL out OF which
bear argument could be moulded?
! II the A~malgamated Copper interests
have nearly reached their financial limit.
Is it not surprising that they should have
come forward n purchased for cash
from 10000 to 10000 shares Of Boston &
montana stock at from 1920 to $3.50 per
share in the most acute stage of the re-
cent financial break? 1t is no easy mat
ter to figure out how people on the verge
OF bankruptcy could raise so much money
and at the same time have enough left
worlds market. If these interests are
financially unsound, is it not surprising
that they were able to carry their own
burden and do much to help others
through recent s~emi-panicky period?
So far as the holders of the lower pric-
ed copper shares are concerned, it is q
we'll known fact in State street that near
ly all of them have paid for their stocks
outright. During the past six months
the banks have been pretty we'll cleared
OF this KIND of collateral. The holders
of these stocks have undoubtedly settled
down to wait until mining DEVELOPMENTS
have caused the value of their stocks to
appreciate. Experience has shown that
stocks are almost never sold on an adj
vancing market. and also that stocks
owned outright are more closely held In
bull times han are those that are car
ried on margin. While it is undoubtedly
true that nan of the recent aotationy
show little prospect of becoming valuable
mines, it is also true that some Of the
new properties give excellent promise.
This good. however. will not be selected
from the bad in a day or a year. There
will continue to be speculation in worth