Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1900-01-25
MARGIN TRADING.

The New England statist of Jan. 20 In
an editorial thus speaks of the ppe
An encouraging symptom in the local
situation is the better disposition of
brokers toward the low and Medium pric-
ed eoppers. Several houses have recently
sent out letters advising the purchase of
certain copper stocks n announcing
that they were willing to carry them on
a margin of approximately 80 per cent.
1t will be remembered that last VIM
ter, when prices were at the very highest
two or three brokerage firms refused TO
longer do business in coppers on a mar
gin. They We're much criticized at the
time, but subsequent events proved that
their course was along the line of wisdom
and conservatism. At that time stocks
We're held by almost everybody, and
traders had carried pyramiding pur-
chases to the danger point.
At present, brokers reason it out hat
liquidation has brought prices down to
practically rock bottom. A large percent
age of the big a of boom times has
been paid back to the banks, and money
is again getting to be a drug in the
market. The banks find that their best
interests are III many ways conserved
by activity in the local stock market, and
the fact that their surplus is now almost
as large as that of the associated banks Of
New York, certainly indicates that bust
ness is not as good with them as it might
be.
If the banks are willing to meet the
brokers' half way,-and it is understood
that they are disposed to do SOFT is not
improbable that the sun OF prosperity will
soon cast its rays through the gloom that
now o~verhangs State street. In testi-
mony that the brokers are awake to the
situation, we reprint the following from
the Calumet Evening News:
Their is a general feeling among local
c0nnar 2fnPk nonD1a had ~. -.---
Deen seen in the slump and that things
Will look better all around from now out.
This is the sentiment not only amone the
people IN this vicinity who do not do much
other than watch the copper stock mar
ket, but among the smaller traders about
the city. The brokers all seem to think
that better things are coming. However.
the brokers have thought so several differ.
ent times within the past year, but things
did not m~aterialize.
NOW they seem to realize that the
long-expected boom is certainly coming
and that the bulls will commence to axe
things in their own hands before long.
me pest evidences of this is the fact
tnat they are all willing to resume mar
ginal business on rates that are within
the reach OF many. One local firm thai
alno'st totally discontinued mnreinai
business has q new schedule, q glance at
when would assure one thai they expect-
Gu the oOttOm prices had been touched.
For instance, they are now willing to
purchase such stocks as Atlantic nait,c
Centennial. Isle Royale, Parrot and Vol
VERNE on a margin of SO. Such stocks az
Arcadian. Franklin. etc., are taken on a
% per cent. margin, and the smaller ones.
as Arnold, Victoria, Trimountain and the
K are handled only on u cash basis.
When it is considered that a few months
ago the same firm refused to touch any
copper stocks on anything but a cash
basis the improved condition is very evil
dent.
Within the past few months a great
many holders Of copper stocks in Calu-
met a v had all kinds Of experiences.
Many Of them have been crowded ont of
the market at big losses. but most of the
local people who could raise money have
stuck to their copper stocks in the belief
that better times were coming. Notwith.
mol the fact that many of them are
holding copper stocks at prices very much