Bisbee daily review., 1906-08-19

mere nave been 1urtnef purchases
 of copper this week for October and November deliver at IS 1-2 to IS 3-4
 cents per pound for Lake and cleo
 trolytic respectively. Producers are now satisfied that these prices will
 be maintained for several months to
 come and the situation is devoid of
 even shade of weakness. Many consumers openly declare that the con sumption of copper is still exceeding production and freely expreSs the be
 lief that they will have to pay ap
 proximately present prices during the
 greater part of next year.
 It is now practically certain that there will be no further increase in the production of copper this year
 The recent labor troubles at the
 Greene Consolidated, in the Lake Su
 perior district. and, in a lesser degree
 in Butte and Bingham, have cut down
 production several million pounds dur
 ing the past two months. Further la
 Dor troubles are expected. There is
 a scarcity of labor in all the leading copper producing centers.
 Business conditions continue re. markedly strong. There is so far lit
 tie or no indication of a trade reaction
 Until business conditions decline. it is expected that the price of copper will remain at approximately it's pres, ent level.
 Coppers have acted decidedly well this week. there having been substan. tial adavcnces in several of the better class of stocks. Feeling is sufficient. ly confident and prices low enough to make strong financial interests feel warranted in buying the best of the present and coming dividend payers for investment. Favorable develop ments have led to renewal of strong buying demand in Old Dominion, Utah, Greene, Allouez, North Butte, Butte Coalition, Amalgamated and Anacon- da. Unless there is an early decline of considerable proportion in the New York list, substantial advances may be expected in such stocks as Utah Consolidated, Copper Range, North Butte. Butte Coalition, Greene, Gran by, Old Dominion. Boston Consoli- dated, Utah Copper and Bingham. These stocks are selling low. and are attractive purchases on every reac- tion both for speculation and invest
 ment.
 Amalgamated's strength is surpris- ing to those who regularly follow the stock market. In view of the fact that the price was forced down to be- low 93 just before the dividend was declared, the traders are astonished to find that it can easily be main tained above S100 with no increase in the dividend. It is good opinion that insiders are willing to buy Anal gamated even at present prices.
 We figure that Amalgamated is now earning at the rate of SIS to S14 per share on it's stock. In the meantime it is building large extensions to both its Great Falls and Anaconda smelting plants which will considerably fur ther increase it's output and profits. There is no preferred issue or bonds ahead of Amaigamated stock and the company is now in shape to pay sub- stantial dividends regardless of the price of copper. It seems to be pret- ty well demonstrated fact that the has succeeded in making the stock a good investment at $1O0 per share.
 Butte Coalition has declared an initial quarterly dividend of 40 cents per share, which is at the rate of Sl.o0 annually, or about 5 per cent on the present selling price of the stock. I figure that the company is earning at the rate of at least S2,60 per share at present, and assume, therefore, that the management plans to use Sl,OOo'- GOO annually of the net earnings TOT the extension of development work in it's various properties. Present are rapidly adding to the tonnage of ore in sight in its mines and laying the foundation for much larger dividends in 'the not distant fu- ture.
 Old Dominion has advanced as a re- suit of highly satisfactory develop ments in the west ore body, which IS proving to be of even greater size than heretofore believed. This ore body is of very high grade, averaging about IS per cent copper, and It's lo- cation is such as 10 encourage the belief that the work now underway marks the beginning of the develop ment of another great mine in the company property. 1He HO" oi "e ter. which was recently very trouble some, is now greatly reduced.
 Greene Consolidated stock has been given greater intrinsic value and the company and it's management placed in an enviable light by the gen. erous action of President W. c. Greene. It seems that Colonel Greene, of his on volition, secured options on the American and Copper Belt and Cananea & Duluth properties in the Greene camp, interested Thos. F. Cole, John D. Ryan and associates and sold his options, together with lands, to them. receiv- Ing in exchange 100000 shares of Can anea Central Copper company stock, par s10. full paid. Cananea Central stock. 5 paid, IS now selling around SIP per share, making the 100000 shares of full paid stock worth at market prices s3,600, 900. President Greene has turned his 100000 shares of stock into the Greene Consolidated treasury without any personal com pensation.