Bisbee daily review., 1906-10-26
20 GENT COPPER FOR NEXT
 YEAR
Predicted By Geo. L, Walker, the Copper xpert, Who Tells of Supply and General Con- dftion of Market.

The copper market Is excited aud prices continue to show an advare- ing tendency. says Geo. L. Walker n hts weekly copper letter. Lake and eiectrolytic may now be quoted at Fl < cents to 23 cents per pound. Sales O. round lots have been made at .z cents. and, reports say. at 22h ana 23 cents also. The leading selling agencies and the largest producing fn- terests are advising consumers to re- frain. as long as possible, from making further purchases. Buyers have been bidding prices up against themselves and producers. having no copper TOT nearby delivery, have been unable to stop the advance. one of the largest selling interests says that his concern could not contract to deliver more than 100000 pounds of electrolytic copper during the remainder of this year.
 While domestic consumers are quite we'll supplied with copper and have covered their requirements for three or four months by advance delivery contracts the position of European consumers is quite the reverse of tnis' The foreigners have been exceedingly skeptical all the way up from Is cents per pound. They have been buying from hand to mouth and as rule have contracted for practically none of their advance requirements. As result they must now buy copper re- ,ardless of prices or close their mills ana factories According to the best information obtainable there IS nor and will not be enough copper in e&- isterce to supply the foreign require- raents during the months of Decem- Der and January, and the spectacle or idle sheet and wire mills probably VIII be witnessed because of the inability of their owners to buy copper supplies at any price,
 The largest producing interests re- gret the present condition of things and express fear that prices may go to 25 cents per pound. They realize that a level must eventually be reach ed where prices will check consump- tion. There is no fear. however, thai there will be any sudden or ungoV- ernable decline in copper prices III future times when business conditions become unfavorable, however. the de- cline in copper prices will have none of the panicky characteristics Una have been witnessed two or three times in the past. There is now ever' reason to believe that the price WIT average fully 20 cents per pound dur ing the coming twelve months at leas and there is little prospect that th' price will drop materially below 2' cents until a severe reaction in genera business conditions is under way.
 The Copper Share Market.
 The coppers have continued strong but recently there has been decreas ing volume of trading in the bette class of stocks. The big advances Il such stocks as Amalgafated. Anacon da, North Butte. Allouez. Butte Coal ton, cananea Central and others hav' supplied the basis for a boom in tn mining stock Notation business. am new wildcat promotions. are bsini brought out In almost endless array There hasn't been B time in the pas six years when the public was beini So widely solicited to put It's none into new and undemonstrated minin schemes, backed by men of little o no standing in the financial and min