Bisbee daily review., 1904-04-14
The Copper Share
 MARKET AS SEEN
 By Geo. |. Walker
TAKES THE NEWS BUREAU TO TASK ON COPPER PRopUc-
 TON AND CONSUMPTION.
No Invisible" Supply of Copper AmaI9amated Controls its Ore Pro duction-The Production in the
 United States Was About 710,o0o,- coo Pounds and Averaged 13 Gents.

A very decided improvement in the tone of the copper share market is noticeable. The advance in metal prices is greatly increasing the earn ings of the producing companies, and investors are buying copper stocks for their strong boxes. The demand has not shown itself to be so much in the speculative issues as in the dividend rayers- Calumet 6 Hecla, Quincy, Wolverine and Utah have been bought consistently. The Lawson-Rogers col lision came, it now appears, at an especially opportune time Intrinsic conditions were too sound to permit of stocks being affected adversely For few days the market acted scared; but when prices failed to go down investors and shrewd traders knew it was time to buy. The market IS now advancink on merit, and there is every reason to believe that prices will go considerably higher.
 The publisher of the News Bureau takes exception to the expressed be- lief of Lake Superior broker, quoted In one of these letters a week or two ago, that the attitude of that publica- tion on the copper market and the eoppers had done more than anything else to injure the Boston stock market The exceptions were presented last Saturday, and on Monday the Bureau published another of its characteris- ucally bearish articles on the copper metal situation. The article in Ques- ton contained Q misrepresentation of facts in almost every par agraph. It does not seem possible that it could have been published with any other motive than to instill doubt in the public mind as to the legitimacy of the metal situation, such as would naturally prevent investment and speculation in copper stocks. Follow ing are few paragraphs from the be- ginning of the Bureau article:
 The copper market is firm at 13 cents for the best brands of Lake Su- perior copper but with no increase in American demand and a steady in- crease in the American supply.
 As the Amalgamated people con trol nearly one-half the American sup ply talthough they do not own one third the American supply) and as they are endeavoring to advance and market Amalgamated copper, large amounts of which they purchased at under $40 per share, the only question in the metal trade is as to the genu- ineness of the very large copper ex- ports which are unprecedented for this season
 Pr.c hnvra-yor- Sc r1o much improved in Germany, Great Britain and throughout Europe There is no tieup in foreign armaments and war preparations and there is gener- al industrial development east of Eu- rope extending to China, Japan and the Philippines.
 The visible supplies in both this country and Europe have been cut to- such figures as to make it clear that public visible supplies are no longer factors in the copper market.
 Tt is the invisible supply which may now dominate the market at any moment. This invisible supply in the hands of the Amalgamated people came to the front, not when copper was IT cents asked. but when the Amalgamated people were disposing of it at under Il cents per pound.
 If the Amalgamated Copper Com pany and Amalgamated speculations could be eliminated from the copper market, present prices and export movement would be considered highly satisfactory and offer great encourage ment for the future.
 Nobody Is stocking up with copper in this country, and, therefore, there is some ooubt as to how far specula- ton or legitimate demand is influenc- ing the large foreign movement"
 In the first place, there has been a steady increase in domestic consump- tion since the incoming of the new year. There is less than normal increase in American production Amalgamated does not control any copper except it's own production. As a selling agency of the United Metals Selling Company can only dispose of the copper of it's customers with their orders or consent There is not known to be any invisible supply of copper, and there is certainly DO reason for any doubt" concerning the exports that have been made this year. If there were any real ground for doubt, that ground would be eagerly present ed by the Bureau.
 When such doubts are raised, and none are arranted, think it my du- ty to put the public right. and to de fend the leading financial interest of the Boston Stock Exchange.
 Tn lie odvance estimates of the met al market, the News Bureau has al most always been wrong For in stance. a year ago it's publishers could see nothing ahead but extremely hard times for all of the copper producers Of this Country (excepting Heinze). In it's issue of January 20. 1903. at the center top of the first page. win be found the following:
 "The Boston News Bureau estimates &ho& the anaarican conner DrOductiou