Bisbee daily review., 1903-10-14

Market. Not Worse Than Other Places.
 T am afraid that there are a whole | lot of Calumet people who are easily frightened into believeing that the town is going to go out of business, | just because there isn't lot of cash | laying around ready to be dropped in- to the hat of the first. man who hap | pened to come along with some sort of | a mining proposition to hand out to
 the public.' said a Calumet man who | is very close to the local financial peo- pie of some moment and who is gener- ally pretty well posted on the circum- | stances governing local banking | houses.
 T noticed an article in your paper | the other day" he went on. regard | ing the fact that Calumet people re-
 which they would have jumped at last spring. The same story told of the strong endorsement the proposition had and the backing which would have insured a successful Notation several months ago and assigned as the main reason for the failure of the local people to put up their money, l that they didn't have the cash. Now think that there are a good many | people who will be led to believe that cash is tighter here than it is any where else.
 There are reasons why that prop osition didn't float and some of them are reasons that cash didn't make any difference with. In the first place the proposition was altogether too good thing and any such sure thing cinch as that offered wouldn't have to be handed out to the public at all. How ever. that is neither here nor there, for I do not think it would have mace any difference what kind of a proposi- tion was offered the public at this time, nor who backed it, Calumet peo- pie would not buy any of it. The best sort of a gold brick mining scheme
 wouldn't take here now and the reason is not the lack of cash, but simply
 the fact that the Calumet people have
 become sick and tired of the game and
 they want change. No more of the
 get rich quick mining proposition for
 your Calumet investor. He is still
 waiting for half a dozen or more Of
 the schemes he has put his money into to pan out and show up with the goods.
 The investor in Calumet and ev-
 hnr alec hot ;c
 queer proposition. He likes variety
 and it is the spice of the speculator's
 game just as Y ie i- e~c-yth:rg else
 in life. Five years ago when every
 body was getting rich in the copper
 market your Calumet investor got
 crazy On that notion and every lake copper proposition put on the market
 vert like a hot cake anG' people gen
 erally got very "batty" on the subject
 The boom was one of the worst ever
 seen. Then the reaction came. Some
 of the properties lived through and
 more of them went to the wall. In the meantime your speculator was pay ing interest on notes or putting his money into something else. if he had eAy GU oPotC- but AC !" eASA SPCAO- ing so much Of it in the Boston cop per lists. Then the Calumet & Ari- zona whirlwind came along and when Calumet people saw their neighbors suddenly acquire wealth through this successful proposition the Arizona
 trade was the real thing and av- erything in Bisbee went on jump.
 That Arizona Craze vas just like the local craze and after a while peo- pie began to realize that everything in the Bisbee camp could hardly be ex- pected to turn out like the Calumet & | Arizona and gradually the people goS back to their level business basis and | the boom was at an end. Then the, 6 were one or two cases where the pej- | pie put up their money and got stock 1 certificates and they haven't got any i thing else at the present time and | there seems to be little chance of their | getting much more. Two or three of | that sort turned the public interest | and now the investor is beginning to realize the value of hard cash and is I hanging on to it. It is evident, how ever, that be is not doing much spec riatfng in Arizona or e~rthing else. But that doesn't prove that he hash : got cash. Look at the local bank | statements ard you will gee that there ! is any amount of il. Icol- at the say- inss accounts and there IS plenty of i it. To be sure, the banks are pretty | well loaned up and it takes pretty | good security to negotiate loan these | days, but the cash is in town just the same. The financial situation in Cal Gznet Is not c bit worse than in any other community, despite the heavy outpouring of each going into various mining propositions in different parts of the country. y."-Houghton Mining Ga