Daily Arizona silver belt., 1907-07-04
SALES OF METAL
 EXPECTED SOON
Walker Thinks that Producers Will Make Concessions on
 SO Days Supplies

George l.. Walker says in his last cop per letter:
 The copper market was dull this week so far as actual business was concerned but the period of inactivity that has ex. isted for several months will soon be broken, quite likely within few days and sales of the metal in large quanti- ties at moderate concession from the existing level of prices will probably be announced. The Lake producers are still quoting a nominal price of 25h cents for Lake copper. Electrolytic is quoted at prices varying from 23 cents to 25 cents per pound, but practically no business is being transacted at any of these prices. There is good reason to believe, however, that when the con sumers and producers get together for business, the leading producers will agree to temporary concession in prices covering shipments of copper for the next sixty days.
 This is the period of the year when manufacturers take account of stock, the fiscal year of many corporations ending June 30. This accounts for some of the holding off on purchases of new copper until near the beginning of the new fiscal year. Another phase of the situation that has disturbed purchasers of copper is the fact that consumers of the finished products have been frightened by the spectcr of business depression, and consequently have been slow on orders for shipments over the end of this period.
 Consumers supplies of the metal are very low, and it is believed that there will be very little surplus copper avail able in the market after they have con traeted for their nearby requirements.
 The Copper Share Market
 A good degree of activity has devel- oped in the coppers during the past week, and, as have predicted, activity has brought higher prices. The coppers had been thoroughly liquidated and substantial short interest had been ere ated in many issues. The scarcity of stocks was apparent immediately when the demand started. Buyers of copper shares have been forced to bid prices up in order to obtain stock, and the offerings even at the higher prices have been small. The buying has come chief ly from the big interests, who have changed their attitude in the market. The failure of the copper stocks to re- fleet the very encouraging conditions has been due to the general situation, and not at all to anything in the posi- tion of these stocks.
 No other group of stocks holds out such good promise of profits as the cop. pers. Sales of copper for future deliv- cry probably will be reported soon, and the price is likely to go higher than the public has expected. This will tend to stimulate the public buying, which has been curtailed through fear of lower prices.
 The average price of copper this year will be higher than for 1906. The earn ings of all the producing companies will be greater. Dividend distributions will be increased. The present year will be the most favorable ever enjoyed by the copper mining companies, yet prices of copper stocks are low.
 The public will find that the stocks which 1t has been selling have been taken by the big copper interests, and that when the public wants to buy them back, AS it will, 1t will have to pay higher prices.