Bisbee daily review., 1907-10-27
MANUFACTURERS
 CAN'T RAISE MONEY
(Continued from Page Nine.)

|
 money at 14-cent copper market. While
 Ely. Nevada, and the big porphyry
 deposit in Bingham will turn out 6
 great deal of copper a few years hence, the increase from these sources
 will be gradual; but it win be by faI | the most notable increase that will
 come from any two districts in the world.
 The great industrial question of the
 present and future is cheap power
 The worlds coal deposits are now called upon to give up about 1900, ,0OC
 tons annually. Up to the present time
 this coal has been mined with much cheaper labor than it is ever likely
 to be again in the future Its distri
 button must also be accomplished at higher transportation costs.
 price of coal has advanced very rap
 idly and it will soon be considerably
 higher still. The only known meth cd of greatly reducing power cost is through the agency Of electricity. It may he mannfa etnrad ir. Ia-ea seosst,-a ! stations where the consumption of coal can be carefully economized and distributed to the many points where 1t is to be used. It can also be gen erated by water power, and it is the latter that is now receiving attention in all parts of the world.
 l have letter before me from a practical electrician who criticises something said recently about the de- velopment of hydro-electric power. He refers to Twin Falls, Idaho, and oth. CT water powers which it is planned to develop, and declares that they can furnish sufficient water to supply power only a few months in the year. l am glad of this information He says that what the West wants is water, and again he is right. The West has some water and some coal and unfortunately. there is not enough of either available at a reasonable cost to meet all power requirements. Therefore the West must be equip ped electrically, and water must be used during the few months it is avail able.
 This rule will be followed in near ly all parts of the world, and cleo tricity, conducted over copper wires, will be the power of the future. There will be no halt in telephone extension, and electric lights will continue to grow in popularity as they have since the first plant was installed. Copper will be used in increasing quantities, and producers will receive good prices. The long range future outlook for the trade was never better than it is now.
 In its downward plunge the stock market gained momentum steadily until the middle of this week. There was persistent selling of coppers rom New York, and it was most no table in what are known as the Heinze specialties. At this writing it appears that the suspension of two brokerage concerns, one savings bank and the retirement of the president of another bank has cleared the atmosphere. The whole stockmarket acted better on Thursday than on any previous day this month. Weakly margined ac- counts have been liquidated and the selling which seems to come from banking sources has ceased. There is every possible reason to expect a sub stantial recovery in the immediate fu- ture.
 Prices are very low and the public still has a lot ot money. As soon as It IS clearly apparent that the mar Ret has turned the public will begin buying stocks, because they are cheap, If for DO other reason. It may be the part of conservatism to wait until there is good market for the metal before buying copper stocks, but the fellow who buys when the metal market conditions are most hopeless will make the money.