Bisbee daily review., 1903-07-04

tspecIal cOrrespondenee.l

activity in the Calumet market TOT Arizona stocks than at any time for several months Conditions assumed such a changed attitude that even the crankiest pessimist was inclined to think that the chances for still fur ther improvements in the market con ditions might be looked for sooner than was expected. The market showed that il could be handled with out much difficulty. and that it was comparatively easily influenced by news items from the scenes of the mining operations.
 The local banks and brokerage ofices say that there was a very strong demand for three of the stocks of the Bisbee group. The ac- tivity was greater in the Calumet < Pittsburg. the Higgins and the Cochise than in anything else. The demands for these three stocks came principal ly from local people, althohgu there were heavy buying orders in all three from Pittsburg. Chicago. and even some business from Detroit. a city which up to the present has taken a NCIg pdSSAfS lANCASSk 1u 6iAHSud SOP- per stocks.
 Local Buying NotieeabIy Strong.
 Despite all the talk about the tight ness of the money market in Calu met, about the strain to which it has been put for so many months, and about the way Calumet money has been pouring out into investment fields. the banks and brokeragc offices report that the cash seems to be loosening up little. This, at time when the usual conditions point to the slowest kind of a market, seems stranger than usual
 During the week there was consid- erable buying on the part of Calumet and the buying was confined almost entirely to the three properties men tioned above The buying in two of them was on the strength of the news which came from the Bisbee camp. This news told of the finding of ore bodies of pronounced strength on the Calumet & Pittsburg While the local ofiee of the company received 10 news on the subject, or at least gave none to the public, it was generally believed that an ore body of distinct value had been uncovered. and the buying was stimulated on that score. Officials Say Nothing.
 The local officials of the company have never shown any inclination to keen news from the public, and On the other hand they have always been ex' $remely conservative in what they did give out. and they have nothing what ever to say about the recent news from Bisbee regarding the Calumet x Pittsburg.
 The Calumet & Pittsburg is gener ally looked upon as the property which will prove up the Calumet & Cochist proposition, and any favorable neW' regarding the Pittsburg always stim uistes activity in the Cochise, as wei as the property directly concerned.
 The local activity in the Higgins Deyelopment stock is simply th' natural result of investigation on th' part of the local investor into th' conditions and lay of the land in th' Blsbee district. It is also resulun' from the good words spoken concern ing the property by the Calumet S Arizona heavy holders. all of whon recognize in this proposition wonder fdi possibilities.
 Calumet as a Big Financial Center
 Calumet and the lake district as financial center is beginning to re cefye recognition which it has merite for a good many years Capital now being attracted to the propos sions which Calumet and other lax people have put on the market II stead of having all of the lake capita going into propositions which Wer financed in the east
 Calumet capital is furnishing mi iona for the development of promlsin mining fields in every part of th United states, and in Canada and Me teo. Besides that. and what is nor iuportapt to local financial interest," Calumet people are directing. an assisting in directing. the inyestmer of millions that comes from Pittsbru' Chicago. Duluth, Milwaukee, and eve Detroit and Boston, through which Ia fer city all the lake money which vel
 
 into mining propositions passed uh' a comparatively recent date
 Pptsburg and Duluth people beean interested with Calumet people in tn original Lake Superior & Westeri which was afterwards absorbed ? the Calumet & Arizona proposition The United States Steel corporauo people at both Duluth and Pittsoui were heavy investors in the deVeio ment stock. and heavier investors the stock of the Calumet & Arizon company, which they still hold treat big blocks. In addition to tnl they have taken up other properu' with the same people. and today the lave millions in the Warren distric and are in position to take out