Bisbee daily review., 1906-03-25
Tbe METAL MARKET.

 and stronger. Lake and electrolyhc are selling ct IS 1-2 to 1894 cents per pound for May to August delivery au indications are that domestic con sumption will be much heavier tnls year than last, and though the ioreish demand will probably show 8 slight falling off, the prospect looks iaSofa- ble to a still higher range of pr'ces. A great many large improvements are contemplated which call for a tre- mensous amount Of copper. The eiec- t,;fication of steam railroads has got ten it's start and it cannot be carried forward very rapidly until there IS considerable increase in the world production of copper. At present tue growth of output is no more than nor paI. Until there is decided reac- ton in general business conditions, therefore. it is quite certain that the price of copper will be maintaine'' a. appi oxiinately it's present level
 THE COPPER SHARE MARKET There has been a renewal of InS-st- ment aud speculative buying in most of the coppers and prices have as ruic recovered considerably from the lowest point reached in the recent decline. The sharp break in Boston Consolidated, however, has put dauper on speculative enthusiasm Tor the time being, but its recovery VIII bring renewal of courage. AS Wncle, however, the coppers are acting par ticularly well and, in the best circles, it is firmly believed that much high
 hn witnessed within the coming few months.
 Personally, I am buIlish CD the stocks of the large established produc- ing companies. I can illustrate my T..sition best by brief comparison of Osceola and Ahmeek- Osceola IS earning at the rate of ST per share and selling around $1Go. Ann eek developing what promises to be val uable mine and it's shares about, half a. Urany in number, are selling aeo' $50, or on the basis of S45 per share fo- Osceola. In four years more cf present metal conditions, therefore, Osceola will earn at least s6S net per share, and it is extremely doubtful il Akmeek gets ready to begin payine dividends in less than four years. It, indeed, requires tremendous stretch of the imagination to believe that An meek will be as big mine as Osceola will after four years more of develop ment. Even if it is, however, it re- quires only 6 few figures to make il apparent that OSceola is as good a purchase at s1o0 per share as AhmeeE would be at S65.
 There are several of the producing copper companies which are earning ep the way from 15 per cent to 2e per cent on the present selling prices of their stocks. Such companies are not only making good return to in yestors, but the money accommodating in their treasuries is rapidly writing off" or "wiping out the first cost
 There is now every prospect thai this condition of things may continue for years. If it does, tremendous profits will be made by those who buy such stocks as Amalgamated, Ana conda, Butte Coalition, Calumet & Ari zona, Calumet & Hecla, Copper Range Granby, Greene Consolidated, Mohawk North Butte. Osceola, Quincy and Utah Consolidated. The greater mum Der of these stocks are low enough to be most excellent investments even though the price of copper were to drop back around If cents per pound The situation is one which warrants a big speculative and investment de mand for the stocks named.
 Butte Coalitions holdings of mining property are likely to be very largely increased in the not distant future T 4ha% ffoy derway may place the company in { much stronger position and add ma teriaily to the value of it's stock.
 It is expected that Butte Coalition will be listed on the Boston Stool Exchange before the end of nex month. It will undoubtedly prove . very active and attractive issue.
 Shannou stock iss higher and ir better demand. An expert is exam ming the mines for inside interests and though no formal report has beer made as yet. it has apparently beer discovered that the property has con siderable value. Readers of this let ter will recall that I strongly advised the purchase of shannon when it soiC down to 3A two months ago.
 
 Boston-owne1 company. By far the larger portions of it's stock has beei purchased or is held under option b, the Heinze or their companies in Nev York. Why th:3 stock has been bought or what the plans of the purchaser are. is not yet divulged.
 One who has been intimately as sociated with Bingham interests es presses the belief that Messrs. Heinz and Cole are working together in Utah with Walter Fitch as their Salt Lax representative. He believes that tn Bingham company will form the m cleus of large cooper and silverIes mining and smehing company, whic will take over the valuable Tintis Park City and Stockton properties r, gently optioned by Walter Fitch. an that the new company will be an al tive competitor of the United State Smelting and American Smelling , Refining companies.