Bisbee daily review., 1908-05-03
COPPER |S DULL
 LITTLE SELLING
 AT LOW PRICES
When Railroads and Electric
 Companies Begin Purchase
 of Equipment Stocks Will Raise Raipdly, Says Walker.
(Walker, in Boston Comp

(Walker, in Boston Comp Copper is very dull, and at the mo-
 ment 1t shows declining tendency.
 Lake is 12 7-S to 13 cents, and cleo
 trolytic is F 5-S cents per pound.
 Very little copper is being sold. The
 foreign demand, it will be recalled,
 was pretty well supplied some time
 ago. Up to the present time ,domes- tic consumers have bought very spar
 ingly. As soon as they begin to see
 a distinct improvement in general
 busisnes they win contract for tens
 of millions of pounds for advance de-
 livery. It is the first sign of a gen
 uine business revival that is being
 waited for. When it appears a good
 market for copper will come with
 it. For the present the only way
 to get an understanding of the cop
 per situation is through study of
 the business outlook.
 As soon as the leading railway ana
 traction companies are able to issue and sell successfully large lots of construction and equipment bonds there will be revival of business in practically all lines. The proceeds of these bond sales will be used to em- ploy labor and to buy manufactured articles. Some efforts towards f.
 nancing are already under way, and | the prospect of their success is very bright. Of course they were not un-
 dertaken without the approval of the
 best banking and financial authori- ties in the country. If the current
 offerings are taken readily, others
 will follow. This money will go into
 circulation immediately, and the et-
 feet upon general business conditions
 and upon sentiment will be electri'
 cal One of the first things it will do
 will be to stimulate buying de
 mand for copper.
 As soon as the demand comes there
 will be an advance in the price ot | copper. Producers are very unani-
 nous in their determination to limit
 their sales at current low prices. It
 will not require an organization now to make them work together for an advance. When domestic consumers make up their minds that they will buy copper, they will firsl the asking price above II cents
 The market has had a further sub stantial gain this week, and the present outlook is favorable to still
 higher prices. The financing of the long deferred requirements of rail road and industrial companies has : begun. This undoubtedly means that
 the recovery of the business of the ! country from the panic conditions of last fall will be even more rapid than the most optimistic of us has dared to 5 predict Confidence is returning f The sentiment in banking and finan- s cial circles is better than it has been - at any previous time in many months. l At the moment the outlook for the
 coppers is exceedingly blue. Nothing f can happen now to- make copper j. stocks seem any less desirable as in a vestments. The next factor to in e fluence copper share prices will be e an advance in the metal. This will e come just as soon as orders are given e by the railI oad and electric railway 0 companies for new equipment. The @ time to buy copper stocks is before I the big consumers begin buying . copper. Afterwards everybody will g want to buy coppers. The floating - supply of stocks is so exceedingly f small that prices will advance very
 sharply after bull speculation begins ? I advise the purchase of Utah ? Consolidated, Copper Range, North } Butte, Amalgamated, Anaconda, Par : rott, Mohawk, Utah Copper, Nevada 5 Consolidated, Cumberland Ely, and all of the other good copper stocks, at : present prices.
 Miami Copper's extreme dullness, 9 viewed from a stock market stand s point, has been a disappointment to 5 many of the subscribers. It is un- - derstood that all efforts to advance the price have been discouraged, : the desire being to tire out a lot of g small spectators who went into it r with a view to making a quick turn.
 xlzI, 4l- : tion of the stock. Everyone who 3 does not care to hold his stock is be- ! ing given an opportunity to sell : Meanwhile the Miami property is be- l. ing developed into a very big copper a mine.
 t The management was employing T about 80 men at the mine previous to e the ioatation of the company's treas S ury stock. The number has since l been increased. The equipment at ! mine is being improved, and under l. ground development work extended I as rapidly as possible.
 ,- In the prospectus advertised by the ,, company it was stated that there s was approximately 100000 tons of T ore blocked out which averaged 3 per Il cent copper; and MT. Channing's es- E timate was given that 66 per cent ' Ol tue NdlHGS, SAudl JO O0 pOuuuS OL )- copper to the ton of ore, could be s saved in concentration. Recent de r veiopIlent work has added very 4 greatly to the tonnage of ore in sight. s Meanwhile Professor Richards, of the k Institute of Technology, a gentle 1T man who is specialist on coDcen- 2 tration, has been experimenting with IT Miami ores. As a result of his tests 5, i he states that the ores will concen- t trate very satisfactorily and that re- e coyerie5 will be better than S3 per
 cent. Of the copper contents. This
 would mean total saving of approx e imately 50 pounds of copper per ton i- from per cent ore. If Professor le Richards is correct in his estimate, D. the 100000 tons 0t ore referred to IS originally will yield about s2,500,000 s, more in net profits than was claimed e. when the company was organized, = or about s5 additional for each share
 lof it's stock.