Weekly Arizona journal-miner., 1906-05-02
COPPER MARKET SHOWS SLIGHT
 ADVANCE Prospect That Average Price Will Exceed
 IS Cents
No Surplus Supplies And Demand Is
 Strong

Copper prices continue to show a slight advancing tendency. Lake is selling at 1sM and clcctrolytic at 1sss cents per pound. It is reported that lsN cents has recently been paid for round lots of electrolytic for delivery this month and next. Tho scarcity of copper for immediate delivery con. tinues a feature of the market 'and kales of considerable lots are being made for delivery as far ahead as July and August, says George l.. Walker in the Boston Commercial.
 The prospect is favorable that cleo trical progress will be great feature of the history made during the com. ing year or two. The new money re- gently secured by the American Tele. phone company will be expended in cx- tension lines. Water powers will be harnessed in various section of North America and Europe this year, and hundreds of electric locomotives will be built for steam railroad com. panies in this country and abroad. Electric power is beginning to sup plant gasoline in the operation of au. tomobilcs. It is in connection with the steam railroads, however, that the introduction of electric power is like ly to create the greatest demand for copper. As is we'll known, the New York Central, Baltimore & Ohio, Penn. sylvania, New Haven and Canadian Pacific systems nrc already introducing electric power. If it gives the results expected its use will be greatly ex. tended.
 The prospect continues good that the average price of copper this year will exceed IS cents per pound. There are no surplus supplies, and producers are finding ready sale, months in ad- vance, for their entire output.
 An earthquake is such an unusual stock market factor that its import ancc can hardly he judged ofrhand. The great disaster to San Francisco caused decline in prices, as holders of property in that city very naturally hastcncd to dispose of their securities and put their floating capital into cash. The only way the earthquake in California is likely to affect the copper situation is by temporarily shut. ting off the production of the smeltcrs operating in that state. IL is not be. lievcd that this disaster will lead to any serious business curtailmcnt in general or even in the far west.
 As whole, the tone of the copper share market has recently been frmer. The investing public is growing to realize moro and moro fully the Ire. mendous earnings of the copper pro ducings companies, both present and prospective. Dividend increases are following one another in rapid success sion. There is nothing in sight to in. dieate that business expansion has reached flood tide, or that there will he any halt in tho steadily increasing demand for copper for year to come Stock market declines like the present one offer excellent opportunities to make new purchases. A great many copper stocks are selling much too low, and if money conditions continue to work easier, prices should have sub stantial advance. l firmly believe that such high -gradc copper stocks as Amalgamated, Butte Coalition, Calu- met and Arizona, Copper Range, Granby, Mohawk, North Butte, Oscc. ola, Quincy and Utah Consolidated should be bought on every reaction.