Bisbee daily review., 1908-07-04
WEEKS CLOSE IN THE MARKET
 WAS DRAGG|NC
Without Doubt It Was QuieteSt Six Days Experienced Dur ing Present Year. Watching For Cananea Resumption.
CBy Frank J. raf)


 The weeks closing prices in the stock market indicates another quiet and dragging week. Tomorrow being a holiday and today the last day be- fore the Democratic convention to be held in Denver, much is to be looked for the coming week. Just what the outcome will be next week is hard to foresee. but l presume, however, that the results have already. been discounted.
 The past week has without doubt been the quietest market that has been seen during the year. COmmis- sion houses in the east ar complain ing and are all awaiting the results of the coming week.
 Our local market has been a very quiet affair and all eyes are watching the news of the resumption of the Greene Cananea property which is expected to take place the coming Monday. This report has never been definitely confirmed. but sincerely hope that it is the case. Greene Can anea when started will very likely make some big difference in the cop per trade, due to the fact that she alone can produce 50.000,000 pounds of copper per year. At this rate and other copper properties increasing the output will We have too much copper Or will the price of metal advance. Greene Cananea must above all things reduce the price of the production of copper. Her last cost was in the neighboThOod of 13 cents per pound, and it is now stated that she will very likely produce copper at 10 cents. This however. must be proved, and at this price and at a 13 cent copper mar ket how much will she realize for her material. But copper is not very likely going to stay at 13 cents. but more likely will sell at 15 cents, at which price the Greene Canahea peo- pie can make copper at a handsome profit and be in position to pay s1 per share per year as dividend, and I think at this price the stock should be purchased either for ar invest ment or for profit taking.
 Outside of the Greene Cananea the most sought after stock was Shattuck Arizona, sales varying from 14 to l4 1-2. Of late there seems to be a scarcity of stock and it looks as though the stock was being worked by eastern brokers, for no sooner than bid prices are sent into the market than they raise the asked price, and when you offer them stock for sale they will drop the bid price and make asked prices only. and in this way it is almost impossible to dc business. We had enough of this last year. There is absolutely no question as to the value of the Shattuck property. and those that hold the stock need never fear as to the final outcome. The original holders of the property fully realize the value and are not inclined to sell but stand by their stockholders and give them the bene- fit of it. Their reduction works with out doubt will be little longer coming i than might be expected by the public
 but there are many things to take into consideration. The decline in steel and other material of that nature Ialone means a saving of $15,00O to
 S25,000 on the prices that have been submitted to them. Don't get i'm
 patient, it takes time to install a plant such as the Shattuck people are in. tending to place at Douglas. Satur, | day all exchanges will be closed.