Bisbee daily review., 1908-05-31
CONFIDENCE IN
THE FUTURE IS
GAINING GROUND
Feeling In the Markets That
Bottom Has Been Reached
In Prices-Copper Shares
improving Slowly.
(By Frank J. Graft


Tested itself during the last two or
three weeks in the stock market -
due more than anything else to q
general feeling OF public confidence.
in the case Of copper stocks, Tor ex-
ample, which have shown a wonder
full improvement, the price of the
metal is no higher than it was aev
eTal months ago, TheA stocks were
from ten to fifteen points lower than
they are today. The feeling, however,
is prevalent that the bottom has D-=n
reached, that the only chance possible
now is for the better, and it is this
feeling more than tangible result,
that accounts for the advance. Money
is more plentiful and boarding mas
practically ceased. Obligations have
been met and business in general is
on a firmer footing. Future pros
poets have already been discounted.
and there is no surer sign for better
times ahead than this.
OF late there has been considerable
anxiety displayed in the different re
ports regarding the opening "a Inc
Greene-Cananea properties. Possibly
there is no question at the present
time 50 vitality of interest TO tlis COM
munity as the .esuming of this prop
erty. Bisbee was a heavy buyer o:
Greene ananea all the way from II
to % per share, and the larger ma
jOrity of these buyers are still hold
ing their stocks and have bought up
at lower levels in order to lower their
average. There are also some stock
soldiers Of the Greene ConsOlidalct.
that have not turned in their snares
for reorganization.
The Lake Superior people, owning
about 1900 shares, have each con
tributed a small amount Of money to
dTray the expenses of continuing LEe
work of investigation in the matter
Of securing from the officers of the
company satisfactory explanation
concerning the disposition OF fund.-
placed in the treasury just before the
organization of the Greene Cananea
Copper Company.
Today's Boston market shows but
very little change over that of the
opening, and in fact not much change
FOR. the week. Leading copper stocks
are. however. in good demand. vita
a scarcity of real stock. The local
market has practically remained the
same for some time past with the ex-
ceptiOn of Superior & Pittsburg. which
has shown a fractional decline, but
with no desire to unload stocks at
this level. There has been a great
deal said Of late regarding the Is
suance of more stock from the treas
uTy of which there is at present
100000 shares available. Should the
company issue 10000 shares, this
will not only pay off their obliga-
tions that they owe the Calumet n
Arizona Mining Company, but would
also place them in a nice position TO
do business, giving them a surplus of
100000 ready cash, and with the
sales of copper, they would be in the
best of condition. This would be by
tar the better plan, as they are ~
present paying interest on a large
sum Of money, and it is certainly evil
dent that there is not stakeholder
that would not gladly take his pro
rata at 1000 per share, while the
present market is around 11.5O.
There has not been any definite ac-
ton taken in this matter. but ii is
expected that the stockholders will
advise the public within the next
thirty to sixty days.
Possibly the best Indications that
We have of the better feeling that ex-
lists in copper shares, and the pros
poets that the metal, as well as the
stocks, are on better footing, is the
declaring of a dividend of the North
Butte Company which advised its
stockholders that y dividend of S1.00
per share has been declared. Many
expected but 80 cents per snare
while the New York crowd fully want
ed s1.00 per share, while the Duluth
end wanted but so cents.
The outlook for the market for the
coming week is encouraging, cs the
majority Of short interests have al
ready put up their shorts and made
deliveries, and this II anything the
market is oyersold.
Closing Limitations.