Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1908-10-18
BIG PLANTS
ARE LOADED UP
WITH COPPER
Have Been Buying Large
Quantities at Present Low
Prices, and viii Need No
More Till After Election.
CBy Frank ]. Graf.)

iBy Frank j. Graft
Wall street is bullish. There is
hardly a man in the street who is not
a firm believer in an upward trend of
prices. The only disagreement there
Is concerns solely the time of the adj
vance in market values. With the
election of Taft, there is no question
but that there will be marked re-
vivaI in business. and that the prices
recorded in Wall street will not only
indicate. but anticipate this develop
ment. There of course is a possibil-
ity of the election of Bryan, but the
prevailing odds in the betting market
of from two to three to one in favor
of Taft would seem to indicate that
there was not much danger of
Bryan stampede. which would be nee
essary TO land him in the Whits
House. Democratic politicians from
the West and South who come to New
York, talk very enthusiastically about
Bryan's prospects. and several of
them have expressed their willing
ness TO bet substantial amounts in
support of their conyictions. Such
incidents, as well as the conflicting
opinions as TO the result of President
Roosevelt's energetic interference in
Nnt CdktDett5Hs u6NC q NGuANbNs "
make Wall street operators reluctant
at this time to make extensive com
mitments on .he long side.
The copper metal prices held rath.
er steadily throughout the week as
far as actual sales were concerned.
While electrolytic was quoted at high
as Is SIS cents per pound, sales were
reported at a trifle lower figure. Sales
- oha of fyx,trnrfIy
ported during the week at prices
which ranged from 13 3-Sc to 10 5-Sc
The largest purchase recorded was
one Of 100000 pounds. said TO have
been take by a large corporation for
October delivery. On the whole it is
thought that the sales of this week
were a trifse better than those of last
week.
Leading New York copper authori-
ties do not vary in their opinion con.
corning the market outlook for copper
metal II is generally conceded that
the large consuming interests of this
country are loaded with metal at pres
emit prices and there will be no i'm
portant market changes until after
election One man says ali of his
reports indicate that Taft's election
is assured but he believes that the
market should discount the fact
about two weeks before election. It
is generally believed that the Euro
pean market is well sold up, that the
spectators as well as the manufac-
turers, are loaded with cheap copper,
so that little help can be expected
from foreign assimilation of Our pro-
duct
It is predicted that with the re-
sumption of business at the end of
this year the copper stock on hand
will be so well taken care of that the
metal price win advance substantially
10 the first months of 1909.
From the reports of copper buyers
assurance is given that the metal
market is better now than it has been
for the past three weeks. They argue
that while the visible supply in Europe
is larger. the stocks in the hands OF
producers are very much less than is
generally supposed, and show little
or no accumulation There are others
who believe that for the time being
the statistical position is growing
somewhat weaker, although they see
nothing in present indications that
should cause any apprehension fol-
the stability OF the market for the
metal
The local market has been confined
10 a certain extent to the Globe stocks
more especially Globe Consolidated
Superior & Boston, both these stocks
have been very active. due to the
fact that new ore bodies have beer
found, and the finding of large ore
body in the Old Dominion
Without doubt the most important
news In the mining circle for the
week is the Sylvanite District, which
is situated about twelve miles from
Hachita in Grant county, New Mexico
understand this is about the riches
geld country that has been discov
cred for some time. and from reports
from reliable engineers 1t looks a
though the outlook is much bette
than ever expected
Closing quotations: