The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1907-02-03

| In the bear market in 1908. But the public
| did not come in then to buy stocks when
they were declining, and when they were
or the bottom, and it is not likely that
the public will come In and buy stocks
now. The public always buys stocks at
the top and sells them at the bottom This
Is why 90 out of 100 men that come into
| Wall street to speculate in stocks fail to
| make money.
The Hill following is thinking very bull
ishly on the Great Northern ore certif1-
Gates Some of Mr.. HITS friends went SO
far in November as to sell out some of
their Great Northern and replace It with
ore certificates. The operation has put
them In fairly comfortable position. con-
sidering the decline in Great Northern
and the strength of the ore certificates.
The followers of Mr.. Hill are not talking
very much now about the value of the
ore certificates. but 1t is noticed that
every time the general market weakens
and these certificates come out the Hill
people have orders in to buy They think
they ought to sell around 100 now and
mat they are going to sell at $50 and 200
and $50 AMI 900 before the Steel corpora
ton stops shovelling up the ore on the
Great Northern lands.
New Copper Combine.
The collapse of the scheme to float a
new TlOOOOO,N0 copper combine was fore
Swallowed in this correspondence The
trouble was that too high prices were
asked for some of the stocks that were to
be taken over by the combinati ton 1t
seems evident, however, that plans are
forming for a closer affliation of the
leading copper producing interests of the
country The production from copper
mines outside of the Amalgamated fold
has increased very largely since that COM
pany was formed.
With the. taking over of the Greene
mines In MNXico by the Ryan-Cole inter-
ests, the Amalgamated is brought Into
harmony with the leading producer In
Mexico. Messrs. Ryan and Cole are also
dominant in properties in Montana, and
in the lake district, that will soon have
a very large aggregate production of
copper. The American copper industry
To-Day more nearly approaches the lanai
gamated" condition that was planned
eight years ago than at any time In the
history of the company
Nothing, of course, has done more to
bring about harmony in the American
copper industry than the settlement of
the bitter fight between Mr. Heinze and
the Amalgamated copper interests Mr..
Heinze has undoubtedly converted a great
deal of his copper holdings into cash.
and considerable portion of his cash he
has invested in the banking business in
New York. The Cole Ryan interests have
also extended their Montana banking bus
mess to New York. They have formed the
National Copper bank. which will soon
open its doors for business in New York
with capital of 81, 100000.
Mr.. Heinze's pet copper project now is
the Davis-Daly in Butte. While Mr..
Heinze was in New York recently there
was very active buying of the Davis
DAILY stock on the strength of the re-
port he mad to his friends concerning the
property and this buying served to make
a considerable advance In then rice, Mr.
feinze tells his friends that the Davis
DAILY, when 1t gets into full swing as a
shipping mine, is going to earn from So
100000 to $70OOOcO n year on its canitsl
OF Sl5,OOOOO0. The demand for copper con-
tihues undated, and enthusiastic copper
people are talking about much higher
prices