Bisbee daily review., 1906-10-04


 and 1t is not improbable that prices nay go two or three cents higher temporarily.
 The copper famine, which has been predicted for several years past, IS apparently at hand. It is demon st1ated fact that the consumption is exceeding production. Advancing prices are not curtailing the demand. The prospect is now favorable to continuance Of present market condl- tions for many months, and perhaps for two or three years to come.
 THE COPPER SHARE MARKET.
 The coppers sold of this week in sympathy with the decline in the gen eral securities market. Apparently the short supply of money was re- sponsible for the liquidation Bear traders were extremely numerous, and there is reason for the belief that there is a very short account in such stocks as Amalgamated. Anaconda, North Butte and Greene. It is not improbable that prices may worK low CT durng the few remaining days or the month, but after october there should be a substantial retorery and a renewal of bullish activity.
 There is now every possible basis for the belief that the price of cop per will average between 19 and 20 cents per pound during the coming 12 months As the average cost of production is not over cents per pound, and as the mines of the United States will produce an aggregate of HOO, 100000 pounds during the year 1907. the net earnings for the copper industry for the period should ap- proximate the astonishing sum of Sl10,000, 900.
 The largest amount of money ever disbursed by copper mines of the United States in one year was about $45,000, ,000 in 1905 This year divi- dends will approximate so5,vU0,00o. The treasuries of the copper mining companies are full to overfiowing, and called upon to disburse practically their entire earnings. We have the prospect before us, therefore, tnau $2 will be paid in dividends next year where S1 has been paid this, and that a total of fully $100,00o.000 will be disbursed to the holders Of cop per mining shares; an average from now on of more than $S.0o0, 900 month iy.
 Such remarkable distributions of profits as are here indicated can hardly fail to result in tremendous increase in the investment demand for copper mining securities, and this will un doubtedly be accoras1ished by rampant speculation. If monetary conditions Will p<rdt, the coming year will undoubtedly witness the biggest boom in copper mining stocks ever record ed. It would seem that even the smallest producers will be able tf pay dividends.
 AS the market now stands it woui, seem that the stocks of the large pro ducers are relatively the cheapest Companies like Calumet & celia. Calu ment X Arizona, North Butte ans Utah Consolidated, which are carryin; normal treasury reserves, must of ne cessity increase their dividends Am algamated. Anaconda. Butte Coalition Copper Range. Old Dominion, Greene Grapby and the several other com penies, having large and increasini outputs. may also be expected |, distribute big profits during the com ing year. Among the low priced stocks Shannon. Michigan, East Butte, Bal akala, Utah-Apex, Davis-D Daley, Hel vetia, Butte Copper Exploration an, Bingham Central appear the most al fractive at the present time
 SHANNON.
 Shanncn's advance is the resss.l o continued buying of the stock " tn new interests who are said to b seeking control of the company. Thos in position to speak for the pres ent management say that the new 1T teTests will De given as many direct ors as their stockholders entitle then to. but that unless 1t can be show that the company has not It presen splendid mining and smeiter nian agemenf no change in the naEage ment will be permitted wfthou, a .vl test.
 Readers of these letters will re call that strongly advised the pun chase of shannon stock when it sol down to $6 per share in January o this year, and I have pe-sisteusly sd vised its purchase ever since. Whel l visited the company's properties Il May. reviewed conditions there fl detail and pointed out that tnr con pany had ore actually blocked GU which would yield net profits equa to she total valuation represented b the market price of it's stock at ths time The prospect is now sovu rna the stock yill be worth SIS to 20 pc share in the comparatively near fr trre-
 The Shannon company has take working option on the Copper Bell Mining coznDany's property. ocate ct Gleaaon. cochise Co. Arizona. l is not the intention. of the manage 1oent to' purchase the propes,ies, bu