Bisbee daily review., 1908-02-02
WALKER SAYS COPPER WILL
 BE I5 CENTS
Opinion Expressed That a Short Time Will See the Metal Selling For That Figure
 Stocks Are Sound.
tBy c. L. Walker in Boston commer,

tBy G. L. Walker in Boston Conner ciall
 Copper continues strong. Lake is
 If to fl IS cents, and electrolytic 1S 7-S to If cents per pound Sales
 of Lake have been made by several companies at II Is cents during the | past week or ten days. At this writ | ing some lake is obtainable at 14 cents. The metal market has continued more active than during December. Do mestic consumers, however, are still l buying very sparingly. As a result of the easy tendency of money, it is expected that the demand from this source may increase in the near fII- ture. The demand is more than taking care of current production and surplus supplies are gradually disap- bearing. The outlook is now favor able to a further advance in prices. It is good opinion that copper viii sell at 15 cents in the early spring.
 fn last weeks letter, issued when prices were at the highest quotations
 reached since the panic, I explained that the advance was simply the us 1 uaI January boom, the outgrowth of
 the reinvestment of the $200,000, 900
 which had been disbursed in interest
 and dividends; and I advised the sale of stocks stating that in my opinion prices would be considerably
 lower than before the end of Febru- aTy. The decline in the market com menced on Monday and has continued quite persistently up to this writing have now changed my position; l | think the market is low enough On
 slight reactions good coppers should
 be bought and held for a further ad-
 vance of to 10 points.
 Careful inquiry develops the fact that speculative accounts did not increase appreciably on the recent adj | vance. Three large commission
 firms which have been doing a tre-
 mendous volume of business for sev- eral weeks past tell me that they have not increased their liabilities a single dollar. This means that while they have done very large business, | their customers who were carrying stocks on margin have sold more than
 they have bought. Very few new mar gined accounts have been started, and an unprecedentedly large percentage ! of the recent business has been done
 on a cash basis
 This satisfies me that the public is not only not bankrupt, but that it is
 still in a position to buy stocks in great
 quantity. It is the best evidence that could be secured to prove the sound ness of financial conditions. It means.
 also, that the position of the stock
 market has not been weakened by the
 advance in prices, and that the short
 account, which has been largely in- creased on the decline, must again be covered at a loss.
 am bullish on the best of the cop pers, and particularly so on Amalga- mated. I expect this stock to lead the
 general market in it's next advance. Such coppers as Utah Consolidated, Copper Range, Mohawk, Granby, Ana fcOnda. Utah Copper Parrot, Butte Coalition, Boston Consolidated, New house. Cumberland Ely. Greene Cana i nea and Superior & Pittsburg are cheap at their present quotations. All of these stocks should be bought on
 reactions. Of the very low priced Ecoppers, Helvetia, BaIakiala, Utah, Apex. British Columbia. Dominion Copper, Boston Ely and Butte & Lon
 don lock most attractive at present.