Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1907-12-01
WALKER LOOKS FOR
UPWARD TURN SOON
nh aAft4 81,
touuCoio FUIi OCH OOpp0I
at Low Price-They Do
Not Have To.

tRy George L. Walker in Boston Com
mercial)
The copper market has continued
10 be characterized by an absence on
demand. aud prices have been sagging
again. Lake is now IS IA to 10 IL
cent. per pound. and electrolytic 13 10
IL IL cents. During the past two or
three days there has been renewal
mt FOREIGN hI.Nine Quite a little CON
per heen taken at 10 to 141-4 cents.
A very considerable amount could
probably Be sold for 10 cents It is
believed that the activity of foreign
buyers viii encourage domestic con
sinners and lead TO good buying at
the present level Of prices--prosioe
producers are willing to sell. There is
again an effort in certain quarters TO
quote prices down. Tie Metal Ex-
change and a trade paper which is
alleged to be owned by buying inter.
ests are persistenly putting out lower
quotations than copper can be pur-
chased for in quantity At the same
time some of the largest producing in
terests report that they have been ap-
preached by certain metal dealers
who express desire TO buy a large
amount OK copper at about IL "a
cents, evidently for speculation.
IL money conditions were easier,
there would be a very large specula-
tive demand for copper around Is
cents. chiefly from the leading con
Stunning interests. At this price, cop
per is one of the most attractive com
modify speculations obtainable. Until
monetary conditions are more settled,
however, most consumers viii be un.
able 10 finance any larger purchases
of metal than they require for imme-
sdiate use.
The cessation OF operations by the
three smelters in the Boundary dis
trict OF British Columbia will further
cut down copper production by about
100000 pounds monthly It is not
believed, however, that this suspen-
sion viii continue for more than few
weeks. The Yampa smelter at Bing-
ham has resumed operations after an
idlensss of a month or more 1t puts
out about 100000 to zoo, 900 pounds OF
copper monthly. Utah legislators and
Salt Lake Valley farmers and bust
ness men are endeavoTing to bring
about an adjustment which win per.
init the Bingham Consolidated ~and
United States Smelling plants to re-
sumo operations, and to continue
pending a final settlement OF the
smeIter fumes damage question. The
smelling companies in Utah can af-
ford to be quite as independent now
as the farmers and real estate owners
have been in the past
Altogether there is now a curtailment
of at least 30 per cent in the Ameri-
can production Of copper.
The continued heaviness OF Anal
gamated, the passing of the North
Butte dividend, the sweeping court de-
oSsion against the smelters in the
Salt Lake Valley, the weakness OF
railroad aud industrial stocks and the
declining tendency shown by the met
al market have co-operated together
10 depress the coppers recently The
announcement of the plan of the pres
ident and secretary of the treasury to
reliVe the currency stringency by is
suing bonds and notes caused a good
rally on Monday; but the declaration
by the president in his letter tlat
things were all right and had been,
except that the public had failed to
behave itself normally, or something
TO that effect, made most investors
feel even more discouraged than they
lad previously. Hundreds of invest
ors are Hquidating their stocks and
other securities because they are sat