Arizona republican., 1902-02-07

' I ALL RIGHT. the market, therefore.
 has been followed with great interest by the people of the ter ritory Early in the winter, when the eastern panic in copper shares was at it's height. and the price of copper was dropping steadily. we stated it as our opinion that while the price would probably go lower. and might remain at a low level for Cons;1erab ble time, there was no reason for the prospectors and miners in this territory to be dis coura Ged. This opinion was based on the judgment of the people most ia nsiliar with the copper situation in this country and Europe, and the changes in the situation during the past few weeks have been so clearly for the better that it appears now that the permanent reaction has come mach sooner than was expected. When the decline began, much was made of the alleged fact that the market was greatly overstocked, and it was as serted and reiterated that the copper trust was so loaded up with the re- fined product that q dragging and sluggish market could be looked for indefinitely. Already. it appears, the copper in sight has been "cleaned up" and consumers are eagerly looking for more. This condition has been re- nected by the frmer tone of the daily quotations. and if indications go for anything the low level has been reached and passed.
 Much depends. of course, upon the It has been explained that this com bination was anxious to force the prin- cipal independent producers to come in under the umbrella" and would hold prices low until that project could be consummated. But it seems to have been demonstrated in copper as in many other speculative commodities, that no combina ton, however strong, can permanently control the market. Bradstreets for the current week in Q review of the situation holds to the opinion that the dark days for copper are about over. Says that publication,
 It was pointed out in these columns a week ago that the position of the copper market was undergoing change. It was known that the Anal gamated Copper company and it's dis tributing agency, the United Metals Selling company. had disposed of the balance of their accumulated stock of the metal. and this was considered as furnishing a basis for an improvement in the quotations for the metal This week has borne out these views in very complete way. Copper prices have advanced nearly ? cents per pound, the price Of lake copper, which was II cents, having had successive advances, which put it to fraction under 13 cents. and there were large transactions for future delivery on the basis Of 13 cents per pound. The Lon don copper market was also higher. with spot copper up to E55 per ton and futures, also at fj5. This movement has been reflected by q prompt and heavy advance in prices for the copper-mining stocks both at New York and London, indicating that the speculative world promptly realized that change has. taken place in the prospects of copper mining companies, while rumOrs have not been lacking that some new com bination or agreement may be made between the worlds leading copper producers calculated to secure greater | if all attempts to artificially advance the quotations are permanently aban- dCned.
 According to the best trade authori- ties. the improvement in copper prices is the result of heavy buying by con sumers. who had been waiting for still lower prices than those recently quoted. and who, therefore, became somewhat scantily stocked with the metal. It is known that at the ex- treme low prices which were made only a week go heavy purchases were effected, some of them possibly being by speculative interests, which con sdered that it would pay to hold cop per at the figures which then pre- vailed. with a view to an improvement like that which is now taking place. It would seem that nos only have the Amalga mat ted and other large concerns disposed of any accumulated stock, but they are practically sold ahead for some time. The Amalga mated. in fact. is resuming operations at a number of it's properties which were recently closed down on account of the depres- sion in business and the decline in prices. and there is a prospect that with COnsumptive demands once more assuming normal proportions the ac- tivity in production will not necessarily interfere with some further improve ment in the copper market itself II is stated that the advances which took place this week did not check the de- mand. which would seem to bear out the theory that consumers are under stocked and that the Amalgamated Copper company and the other large producers are not in a position to throw much of tEe TTe-al o1 the mar