Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1907-11-10

+, OF course there win be another big
/ bull market in coppers. and prices
! viii go quite as high next time as they
/ did in the early months of this year.
/ Between now and that time, however,
the market viii have many and ex.
IRENE fluctuations: and the entbusi-
asts who cannot resist the temptation
/ TO buy more stocks on every strong
rally win often have reason to be dis
couraged. / think the chances are
more than nine TO one that lower
/ prices We're made in the coppers lasr
week than viii be witnessed again in
three years. Investors and specula-
| tors who carried their stocks through
( the panic, and those who bought
I within fivepoints of the lowest should
retain at least half of their holdings
and take their chances of getting
400 per cent advance within the com.
ing two years.
Although such low priced coppers
as British Columbia, Dominion Con
per, Utah Apex. Balaklala, Bingham.
East Butte, Helvetia and Butte & Lon
don should double, and some of them
perhaps multiply in price. do not
think this is good time to invest
heavily in such stocks, or to talk about
them The stocks of the best demon
strated mines are the cheapest lust
at present. / strongly advise the pur-
chase of Copper Range. Utah Consol-
tdated, Osceola. Quincy. Butte Coali-
ton, Calumet & Arizona. CRANKY.
Amalgamated. Anaconda, Mohawk. Al
louez, Old Dominion and other good
coppers when the outlook was most
hopeless. They have advanced CON
siderably already but l believe they
should still be bought every time they
decline few points from the top
prices of the rallies. It viii take
some time to recover completely from
the severe losses which everybody
has sustained recently; but it is safe
prediction that the disaster is behind
us and reconstruction has begun.
The money situation is still the
most sensitive factor. The high rates
that are being paid should attract
money to the financial centers, and
retrenehment in many lines of bust
ness should release considerable per-
centage OF the currency that has been,
and is being. used for payrolls. Our
exports are increasing, and at the
same time foreigners are buying our
a
of gold shipments this way soon: and
within six months or a year money
should be cheap enough to permit a
resumption of construction by the rail-
roads, electric railways, telephone and
electric light companies and other big
corporations. We have had our panic.
and we must look now for a period of
rapid reconstruction. The wealth of
will hfa
highest aggregate, and those who have
good stocks will share most largely
in the benefits
There is movement under way to
reduce wages in all OF the leading cop
per producing centers. The rates that
have been prevailing in some of the
Western districts-S3.50 to 81 for
eight bours, seven days in the week
are altogether out of proportion wnh
wages paid IN other departments of
industry elsewhere in the country. A
general reduction of so cents a day.
and the higher standard of labor
which viii result from the weeding-out
process as forces are reduced, should
cut down the cost of producing coz
per from l-2 to cent per pound.
1t Is now safe to figure copper share
earnings on a 15-cent metal market
basis. This years output OF the
mines promises to bring an average of
IL to is cents per pound On a IA IL
cent copper market the mines viii be
able to earn twice as much as they
could on the f2-cent market which was
threatened week ago. This is suf-
hcient reason why good coppers are a
buy.