Bisbee daily review., 1906-07-08
WALKER SAYS C0PPERS ARE:
 GOOD BUY
Metal Prices Are Being Finn B Maintained, NotWith- standing Reports to the Con- trary.
Unless Business Reaction Is.
 Coming, CopperS Are a Buy .ShattuCk-ArizOna Nov Has
 Good Ore.

The metal market continues quiet, ! but holds strong at ruling prices l Lake copper cannot be had from pro- | ducers who market their own copper at figures under IS 3-4 cents per pound, although lower prices have | been quoted during the week on the New York Metal Exchange and in sey- eral publications. Lake producers state that they do not know of any actual sales of the metal under IS 3-4 cents, notwithstanding reports to the contrary. One producer says: There is no change in conditions affecting ! the metal market. Our customers have provided for their requirements, | well ahead. The market is quiet as | it usually is at this time of the year.. We have no stocks of the metal on hand, and do not see any reason for | selling under IS 3-4 cents." Electro | lytic is quoted at IS 1-2 to IS 5-S cents Casting is 1S1- to IS 3-S cents per | pound.
 Consumers who are in the market this week for electrolytic for delivery | in August reported that they were | unable to get concession in the price anywhere. The heaviest consumers, of electrolytic show no hesitancy in buying this copper at ruling pricess and in a number of cases have pro vided their requirements well into September and October.
 | I know the United Metals Selling company is sold up well into Septem-- 1 Der, and one of the most important. copper has sold its entire, production coper has sol dits entire production up to October 1. The supplies of electrolytic available before Septem Der are believed to be comparatively small"
 ! One of the largest producers says-- There is no real weakness in the :. metal market. Certain interests are | taking advantage of the present dull spell and manufacturing lower quota tions in order to make the market ap-- pear weak. Our product is sold we'll into September. We have been get | ting IS 1-2 to IS 5-S cents for electro lytic for future deliveries during the: past seven months.
 q do not believe that the metal | market will experience anything more | than slight relaxation in prices dur. ing the present dull spell. There Is good reason to believe that approx imately the present level of prices will be sustained for some time to come by continued large demand for the. metal"
 The Copper Share Market. Unless a reaction in business con ditions is about to begin, the current decline in security prices cannot 20 much farther. If the foundations of our progress are being weakened by an unsupplied demand for money for new enterprises, however, We must ex- pect the decline to continue and must prepare ourselves for an old-fashioned. period of hard times. Earnings de termine the value of securities, and unless there is reason for doubting that the present volume of business; and satisfactory profits are to be con- tinued, prices of good securities are by no means too high.
 Having spent the past two months in the copper mining camps of Ari- zona, Northern Mexico and Utah, I do not feel warranted in expressing positive opinion that the general business situation is in every way sound and healthy. All of the infor- nation have been able to obtain, however, leads me to believe that this prosperity of ours is too firmly estab- lished to be tumbled over by the cur
 
 the affairs of every successful corpora ton, or by any other unfavcrable in fiuence that is now in sight.
 The producing copper mines are in most excellent shape. Some of these great properties have already practi- cally in sight sufficient ore to retire their capital stock at present market prices. There is every reasonable basis for the belief that the price of copper will remain above 15 cents pound, at least, for several years to come. If it does, good copper stocks will surely sell much higher than they have during the past year, for their prosperity has not yet been properly discounted
 It was two or three years ago that begun reminding the lHaders of these letters that larger copper share dividends were to be expected. Since. that time almost every important cop per producing company in the woriJ has increased its dividend rate one or more times. This tendency con. tinues at present, Osceola and Ana eonda both having increased their payments within a week or two. There IS reason for the belief that still fur. ther increases in copper mining dis
 fConfinupd oy pooo Y9A