Bisbee daily review., 1903-06-11
CALUMET MARKET
 ARIZONA STOCKS
1T IS DEAD AND BURIED FOR THE
 PAST WEEK.
The Same Condition Prevails As to Other Development or Industrial Stocks at Calumet

Calumet, Mich, June ,, 1903.-The Calumet market for Arizona socks
 may have been described as
 has been dead and buried for
 the past week. The market is not only
 dead as far as mining stocks are con cerned but it is dead as far as every
 other kind Of mining. development or
 industrial stock is concerned and all
 the efforts of all the financiers, could
 not raise very much of furry in any
 thing.
 Since the time when the Arizona stocks took the place of the Boston
 listed stocks in the estimation of the Calumet public early last spring up to ] within a month ago there was a con
 dition in the local market which was :. very similar to the much talked of | boom in coppers which occupied the | boards in local circles and in most ] every other market for a year or more. ! Calumet people always like to gamble |, ii stocks of some sort or other and ] they usually prefer the copper stocks. | Exactly what is the reason for this is ! not understood unless it is that people ] up this way think they know a copper ! mine when they see one because they | have lived most Of their lives in a cop per mining camp.
 Quit Boston for 5isbee.
 When interest in the local stocks i listed on the Boston board fell fiat peo- | Tle began 10 take to the Arizonas for | good gambles The wonderful boost | in Calumet & Arizona stock was real | ly the starter. T. gave everything 1 that had the name Arizona pinned 1 to it somewhere a license for ] Ia boom and when the new Warren district propositions were foated they went like hot cakes and then people who didn't get ir began to bid up the stock The market experienced wonderful boom and a few of the supposedly wise ones cleaned up at the top notch but the greater number of Calumet went into the gamble for good gamble with the true spirit of the speculator who can stand pat, they are gambling on the fu- ture results and sticking their money
 and waiting for the future to prove
 whether the gamble was worth while or. not
 Several weeks ago. Calumet invest CTS began to think that the stocks Of many of the Warren district develop ment properties were selling too high and the buying gradually dropped off. Since that time the rush has been dead. People have been trying to re- alize on their stocks and get some cash ready for use. All the banks and all the brokerage offices report that they have plenty of stocks offered
 for sale at market prices. but not much demand for anything
 Even the best and highest priced l stocks, those of the Calumet & Arizona 1 trade mark, have been falling of very materially lately. It is true that | there are not many shares changing hands. but the few changes make the l quotations. 1t is known that most ! of the sales of Calumet & Arizona, | Lake Superior & Pittsburg and CalR- ! met & Pittsburg have been made by ! small holders who were in need of ready funds and found it necessary ! to sell out to get the cash. The same ! may be said of the greater number of | people who have been letting other Warren district stocks go.
 Money Rather Tight Now.
 Money is very close in Calumet just now. People kaye noticed the con tinual drain which has been felt since they began going into Arizona stocks. Many are also preparing for future payments on different stocks in which they are interested. During the week there were but two little spurts that attracted any attention locally. and they but proVea that the local market is very weak just now. and that there isn't much chance for a change until some tune next fall. when people begin to use their discriminating powers and place their money where it is apt to bnns ,Lo hast returns. Northwestern en- loved a little spurt early in the week ] m the strength of the rock WnlcR teemed with gold and which was dls- played locally. but a photograph of a miner shoveling out gold eagles wouldn't boost the stock in the present condition of the market. Lake Su-
 perior & Arizona. gold property near Globe. was also given little boost Thursday on the story of the finding of a vein in the Holt tunnel. It was | reported that 12.0o0 shares were picked up at SIS, and that many of the
 officers bought it at that figure. GUCk