Bisbee daily review., 1906-02-25
METAL MARKET
 IS ACTIVE
Consumers Making In-
 quifes for Copper for April Delivery

! There are strong indications of an
 early resumption of activity in the I metal market. Consumers are again
 making inquiries for copper for April 1 delivery. Lake is IS 1-4 to IS 1-2 cents
 per pound, the former price having been bid for round lots within a few days. Electrolytic copper is held
 at Is 3-S to Is 1-2 cents by the produc- CTS. There has been absolutely no change ln the situation except as
 noted. Producers are in very strong
 position, and their confidence in sta | tistical conditions is firmer than ever. Consumers who have recently gone | the rounds of the producing interests and interviewed selling agents and brokers in an endeayor to pick up cop per at IS to IS 14 cents per pound, l frankly admit that they find none for sale at those prices. Discussing this fact, prominent copper interest says: If l were a consumer of copper in
 quantity at 1S1- cents per pound, think I should immediately buy
 enough to take care of my entire re- quirements for six months in advance, | oo outh Sohultioh co Ihic ldNUI | a higher, rather thtan a lower, range of prices" l It seems that there are no accu-.
 mutations of copper in the hands of
 producers, notwithstanding that pro- | ducers have made exIeremely few | sales for five weeks past. No in
 stance is known where there has been iery falling off in consumption, all
 lines of industry in which copper is
 consumed being more active now than
 at any time previously in their his-
 tory. A record breaking year is be- lieved to be ahead, and the consump
 tion of copper must necessarily be
 very heavy. Conditions existing in
 the trade are illustrated by the fact
 that street railroad people, who have
 recently negotiated the purchase of
 considerable amount of wire. were un-
 able to get a promise of anything
 earlier than August delivery. -
 The liquidation which became con-,
 spicuous on Tuesday and Wednesaay
 this week is believed to represent sim
 ply another period sf encouragement, the bull market having carried some
 stocks, recently dull and neglected, will be taken up, advanced and made
 the center of speculative activity.
 Recent developments in the finau-
 eial world should make 1t very plain
 that the bull market has not yet had
 it's fuh run. The arrangement for
 several tremendously large issues of
 Bonds, to the underwriting of which
 the leading financial interests of the
 country have subscribed, furnishes
 evidence of the soundness of general
 investment conditions It will also
 De recalled that several important cop
 Fer consultations are pending and it
 therefore stands to reason that no se,.
 sious decline in prices will be permit
 ted unless unexpectedly unfavoTabIe, developments should occur in the DO.
 ltfcal and industrial world. The copper situation is sound and. healthy. The Cole Amalgamated in- terests, in purchasing the Heinze- properties at Butte for a new company
 which Is to be close corporation, fur. nish evidence to prove this. The buyers or these properties are both confident as to their value and as tn the future of the metal market. There are still a number of copper stocks which would be worth more than tbeir present selling prices even should cop- Der go back to 1S cents per pound, and such stocks are entitled to have. and undoubtedly will have, a substan- tial advance during the coming two or three months.
 Amalgamated has been sold freely by speculators who have gone on the principal that after news of favorable developments is known stocks affected usually decline. In this particular instance, however. the question may De properly raised as to whether Anal gamated is not worth more than it's selling price.
 North Butte has declared a quarter ly dividend of SIPS, which is at the rate of s5 per share annually, or 50 per cent on the par value of it's stock The previous dividend, paid three months ago, was 75 cents per share.
 Shannon's increased output in Jan rary. the total for the month having been 960.0o0 pounds of bullion, was due to the increased yield of the ore treated. the average recovery having to approximately g pounds more of copper per ton than in the preceding month. Nearly all of the copper produced in January came from Shannon's own ore it's treatment of custom ores having temporarily shown B falling of.
 It is announced that the company's nires will asain be examined by ex- perts, in the immediate future. It is understood that these experts are to