Bisbee daily review., 1905-05-16
STOCK SITUATION
 AS MICHIGAN SEES IT
THE WHY'S AND WHEREFORES AS SEEN BY THE REVIEW
 CORRESPONDENT.
Wise Buyers Refuse to Enter the
 Market While 1t Is On the De- 2. cline-Story of An Accident In Big
 Calumet 6 Hecla Shaft. .. .. q.
(By A. M. Mackenzle.)


 Calumet, Mich, May 12.-I have sought high and low and made en- quiry from all points of the com pass in an endeavor to find for you the real cause of the present dull ness or stagnation in the Bisbee stocks.
 Obreryed from one view point it may readily be called an absolute mystery but when thoroughly inYes- tigated it would seem that there is really but little of mystery about it.
 If you people of the far Southwest have found it hard to understand so too, have practically all classes of our most observant traders and though many and varied guesses are put forward in explanation of the ex- treme inactivity the fact is that most everyone believes in his own mind that he really don't know tn eoause and intends to quietly wait till the suspense ends and some alteration takes place.
 This mystified sensation is really widespread and is being much dis 'cusses The searchers for news m tAfC AlAtllllS lndA hEk ILLUS AAdL his results are all of a negative char acter and that those who know the stock business best know little that is news at the present time.
 Some certain facts, however. are brought out which may have a more or less effect on present condition.
 The brokers adhere closely to their oft repeated statement that the pub lie simply will not buy on a declining market. They say that if Bonanza Circle prices were ten to twenty points niger than they are at pres ent that people would be buying shares eagerly. They say a great many have let go of parts of their holdings while they were at the high prices and simply placed the money in the banks and it is asserted that our banks never before had so much money on deposit ls they have at the present time. One of the many banks here has three million dollars of deposits and fully one half of this is termed Savings. Most of the banks have considerable funds waiting to be placed out on loans and each succeeding month finds these large funds increased.
 In the stock line a good many moved out of C. & P. when it was around fifty and fifty-two and such lucky ones of course have that com fortable feeling" today.
 Year after year our people have watched the stock barometer and now they are pretty close to the in- vestment game and are shrewd in the matter of moving out of or into stocks at the right time. Many of these were formerly minimizing in regard to their investments and in ciined to follow the lead of those who had the reputaton of beng more shrewd than themselves, such too, never allowed ther money to lie idle in the bank while there was any trading going on, in fact, they are stall of that style, but they have learned that it is wise to draw down and out while the share market is on the decline. Other connitions, too, must be considered when the Michi- gan section is being investigated. Among these may be mentioned the fact thrt at this time ot tbe yelr Lu.i.- ness here is very active in general lines, such as merchandising, con tracting, etc., and many of our best traders not only withdraw their funds from the stock market so as to use 1t in their business, but they withdraw themselves as well, and have no time to haunt the broker shops. and SC, in