Bisbee daily review., 1907-09-01

to make record. They made the record, and then demanded a further increase. Their representative de- clared that unless the further advance was granted they would take adyant- age of their ability to work slowly and delay the sinking of the shaft. know of an instance where there was 8 sudden decrease in the output or ore per man and in the tonnage smelted per furnace throughout. an entire district. This foSowed a. series or secret labor meetings The super intendents spent a few nights in the mines and at the smelteTs, and while they were on watch the tonnage came back to normal.
 If the labor union is determined to restrict the producing capacity of tha American mechanic to that of the European workman. who gets only one-third to two-thirds as much pay, we must look for boom In manu. featuring, railroading and all other in dustries in Europe and Asia, and also for gradual Eetrogfession in the United States. Shrewd business men who are watching this tendency have been selling stocks.
 The stock market prices of six months to two years ago look high now; but as a matter of fact they never adequately represented the real values of the railroads, mines. etc. There was practically no wild specuIa- tion or imitation of prices. At top quotations many things were selling too low, and at the present level more than two dollars of intrinsic value can be secured with one dollar Of cash.
 am a bull on the stock market ce- cause know the country and its re sources and because I have confi- dence that sanity and good judgment will prevail ultimately in politics, fi- nance, business. and even in the cSun- cils of the labor unions. I am satis- fled that America ingenuity and saer- gy will find a way to overcome the obstacles that now seem to bar our progress. It will not be a wait Of years. Men move more rapidly now than in former times. 1 believe that within three to six ,3ontls pubic sentiment will have undergone cCm- plete change and that the best cop pers will be selling 25 per cent to 50 per cent above current prices
 
 going to witness most remarkable progress in the electrical world. On my trip through the West I have learned of hundreds of well defined plans to establish new power plants on rivers and streams to generate and distribute electricity. The scope of some of these undertakings may be judged by one I heard of the other d A s1 plant at Twin Falls, Idaho, and sell several thousand electrical horse power at the mill, smelter and mines at Ely. Nevada, about 2i5 miles dis tant Tn the Northwest steam power costs all the way from s65 to s125 per horsepower per year. Electricity is being sold there for s35 to S54 per horsepower already, and all of the hydrO-electric enterprises are earning tremendous profits. This means that copper is every day a growing com petitor of coal. It Is driving coal out of the mining districts, and it is be- ginning a successful contest for su- nramacX nn the steam railroads
 These are important things to re- member now when stock market prices have had an extreme decline. The market is not going to stay down. Copper production will continue the most profitable industry in tha c0un- try, for there must be big demand for the metal at high prices. The coppers are cheap and should be bought Among the best of them arc Amalgamated. Anaconda, Butte C0aii- tion, Copper Range, Granby Greene Cananea, old Dominion, Utah Consol- dated. Nevada Consolidated, Cumber- land Ely, Boston Consolidated and Utah Copper.