Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1908-06-21
Prices will be Advanced Sharp
" When the Consumers
Begin to Make Pur-
chaSeS.
CALUMET & ARIZONA
MAKE FINE SHOWING
Walker Thinks Much Stock of
Superior & PittSburg in
Strange Hands.
CWalEer In Bcston Conn

Copper is firmer. Lake is 1918
cents, and eiectrolytic is selling at
IL "a to IS cents per pound. Do
nestle consumers, almost to man.
continue extremely bearish ON the
metal market They are buying no
more copper than they require to
keep their plants operating from
week to week. Producing interests
are able TO check up on these pur-
chases, however, and have satisfied
themselves that domestic consump.
ton, which around the first of the
year amounted to only about 20 per
cent. of the American production, has
now increased to between 40 per
cent. and 80 per cent. They have
satisfied themselves also that So per
cent of the copper exported during
the past eight months has gone into
consumption and that supplies in thu
hands of foreign consumers are only
trifie more than normal
Notwithstanding the steadily in
creasing production and the refusal
of domestic consumers to buy, there
4 is less than the equivalent of one
months production in the accumulat-
ed stocks of copper in the hands of
producers. More than this amount,
under normal conditions. is carried
in stock by domestic consuming in
terests. In view of this, producers
are very confident, and it can be de-
pended that they will advance prices
| sharply when consumers begin buy
ing.
mendous exports of copper calls out
1 s,grz rnr1Hr er
not acquainted with some condi.
lions which are more or less peculiar
to the copper trade. For instance,
the copper shipped to Great Britain,
! Germany and the Netherlands does
not properly represent the amount
| which is to be consumed in those
countries alone. The brass found.
Tries, sheet and wire drawing mills
which supply copper in shapes to
the rest of the world are in the
United States, Great Britain and
Europe. ! understand that there are
no such plants of any importance In
Asia, Africa, Australia, South Amer
lea or Mexico. Therefore, the cop
per which is being shipped to the
manufacturing countries of Europe
is being consumed By the entire civ
ilized world.
Electrical development Is going on
lin many countries which have moi
suffered to any extent from the pc
culiar political, financial and indus
trial conditions which have develop
ed in America within a year or two
Our political reformers have the
right to congratulate themselves, il
they wish to, that they succeeded for
a time in greatly reducing the con
sumption of copper in the United
States, but they fall into grave error
when they assert that ours was only
a portion of a worldwide panic The
German factories which manufac
ture copper and brass goods for the
export trade have experienced no
hard times whatever. In fact, some
of them have steadily increased
their output during the past twelve
months.
Last week when stocks were ex
ceedingly reactionary, / said was
satisfied that we were in bull mar
ket, meaning that regardless OF
temporary fluctuations the market
as a whole was working higher.
have been in New York the past
few days trying to get in touch with
stock market conditions there.
find the big men and successful trad
ers buIlish; but they are doing very
little talking. Brokers and unSuc
cessful traders are nearly ali Dear
ish. There is a large short interest
in the market, especially in the Stee
stocks and Amalgamated. The pub
lie did not come into the market or
the recent advance, and the volume
of margin holdings in commission
houses is exceedingly small. Every
technical condition is favorable to 9
big advance in prices. The only un
favorable factor is the political stu
alton, and I feel that this one ha:
been discounted already.
am very confident that there viii
4 be an advance in the price of eoppel
when fan trade starts IN. and as ;
result of this there will be a substan
tial rise Ia the better class of coppe
|. stocks. / would buy Amalgamated
Butte Coalition, Parrot, Utah COP
Iper, Utah ConscS dated. Cumberland
fEly. Greene Cananea, Shannon, ant
, in fact the stocks of almost any o
, the producing companies. Thosi
who prefer to trade in very low
, priced stocks should buy East Butte
First National, Helvetia and Masol
Valley.
Calumet G. Arizona stock at 81
puts valuation Of s22, 900, 900 on tn
/ company's property. 1t is estimate
] that there is a six pears supply G
high grade ore blocked out in il
mines. and there Is every reason Z
, believe that the net profit on this tor
) mage win amount to at least $1,000
0oo. oven though the whole product