Bisbee daily review., 1905-07-21

In his weekly copper letter in the Boston Commercial, Geo. Walker says:
 1 Copper is very firm, and the pros Ipect seems to favor an early advance 1 in prices. Lake and electrOlytic arc ! still selling at 15 cents per pound 1 for September and October delivery. l There are seemingly reliable reports of heavy sales at IS Is cents. and it is known that small lots have been sold for delivery as high as IS If cents. Some producers of Lake cop ! per are refusing to sell for SeptembeT delivery at 15 cents. Elecuolytic is
 being sold for export at slightly bet ter than 15 cents. some having gone as high as IS Is cents.
 It is learned on excellent authority
 that copper has been sold for export to China for delivery as far ahead as
 September. 190G. the contracts cover
 ing the first nine months of next year This coppe rhas been placed at bet ter than 15 cents. It seems that the
 great increase in exports of copper from this country 10 China has not
 been due in any measure to a falling off in the exports from Japan. Fig
 ures are presented by D. Houston &
 Co.,, which show that the exports from
 Japan to China have continued to in crease, the record having been as fol- lows. expressed in pounds:
 For 1900. 1880 545: 1901. 153T. .5SS, 1902. S117.715; 1903. 14.6S9,475; 190i,
 30 34G.2G7.
 During the first three months of
 this year Japan shipped G64311G
 pounds of copper to China. an increase of 1605.O0O pounds over the exports of the correspOnding period of the preceding year. This makes it clear
 that China is a rapidly growing fac
 tor in tho copper metal market and opens the possibility that it's demand may force prices even higher than producers wish them to go.
 Copper consumers are generally
 well pleased with the way the market
 is acting. There is a ready sale for
 their products at current prices. and they feel that metal quotations will
 be kept steady around the present lev el for a very long time to come. The
 statistical position of the metal was
 never stronger than it is now
 All the local copper share market lacks is activity. Stocks are well held. there is a steadily growing pub lie investment demand. prices are gaining. and the outlook is all that could possibly he desired. Traders ere well satisfied with copper cordi-
 tious and would be operating in the ! local specialties in preference to ths i New York list if activity were suff- cient here to warrant them in taking lon a line of stocks. IL IS generally recognized that conditions in the met ] al trade. the financial situation and
 the disposition of the public are such
 that. barring accident, they can not 1 fail to start a speculative movement sooner or later; and it is the best of opinion that those who buy good cop pers at current prices will sooner or later have an opportunity 10 sell them at a considerably hisher level It now seems reasonably certain that the price of copper will be main tained at approximately it's present level for a year or more to come. This will result in earnings and dividend Increases that must make for a mucf higher range of prices for the coppers Amalgamated is maintaining a bet ter average production this year thar last and operating expenses are beinf , slowly but steadily reduced. The en . lsrgement of it's blast furnaces. twl ! furnaces being connected and witl ? the passageway between them bein; made into one. is now a demonstrate , success. No. 1 and 9 furnaces eacl 1 had a capacity of 400 tons daily, CT
 total of 500 tons They were com
 hined a few months ago. and the fur
 mace which resulted is now treatin
 sn average of 1,600 tons of ore daily > Nos. 8 and are now being com biI
 ed. and Nos. , and 6 will also be cor
 uected. This will leave No. sinsi > for the present. but will give the VIZ F. shoe smelter a total blast furnace ca s pac'ty of 5.200 tons daily. Tn .vie' a of the fact that so per cent of the or e is concentrated. 2 f-2 to S tons int -- one. before smelting. and also tha 5. the plant contains a very larse Teve '. iberatorv furnace, this change shrCi ?. raise the total capacity Df tie p'ar .t to approximately fOJO0 toys daiiy D. The total output of the AUeieam5 t ed group of mines at DTescl-. inc % n ing Boston & Montana. which In II it's own 3,O00-ton plant at Gre at Fall 2 lis between 5000 and 9.000 tols dail,
 Amalgamated is steadily ircreasin O it's custom smelting busin"ss. and th ,. prospect is that it will become q coi e siderable source of income within e few years.
 l- Greene Consolidated is believed It be in a very strong position sDecula k- lively. A canvass of the interes Id who were formerly prominent in q Q. stock in Boston and New York bring " to light the fact that nearly ali (
 them have sold out. fearing a ba Ie break. and that they are now waitir v- for lower prices. The stock ho' D. ever. Is quiet and surprisingly frr le There is a strong borrowing demar Ig for 1t. indicating considerable sho
 interest. This is a position a sto'