The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1908-04-27
Gilt Edge COpPers
afford Oppor-
tunities Before
AdUonce Days


copper stocks, the Boston Financial
News rays: There isn't much money
for most of the companies in produe-
ing copper to market at current
prices. and until the public feels that
good profits are assured they cannot
be expected to play an important part
on the long side of the market.
There are some coppers, however,
such as Utah Consolidated, Calumet
& Arizona and few others that can
produce copper for less than half the
present selling price of the metal,
but these stocks are being overlook
ed. The Utah Consolidated, for in
stance. can produce copper for less
than cents pound, and still there
seems 10 be no public interest In the
stock. The only buyers at the mo-
ment ere the insiders who under
stand the possibilities of the com
pany, and this stock Is being put
away for long pull.
This is always the way II goes
the insiders pick mp the bargains and
the public with every facility for Sc
curing the necessary information
holds lack and never comes in TO
any great extent until the best part
II an investor would only look
around at the present time he would
find plenty of chances for safe invest
ment in this class of stocks and the
profits that will accrue during the
next year would well repay him for
his patience.
There has been no important
change in the metal market since we
reviewed 1t last week. the practical
deadlock which existed then being
still on. The mine treasurers will
not accept any bids of less than -
cents FOR Lake and they do not en-
courage the metal brokers in any
effort to solicit business under this
price.
The brokers. on the other hand
quote the market as easy. on ae-
count of the copper now offered for
sale by second hand interests. The
amount of this storage copper is very
limited, however.
The position of the consumer is
also unchanged no effort being made
10 secure metal. as they see no i'm
mediate necessity for ordering fresh
supplies. IL all seems to depend on
general trade conditions which, II
must be admitted. are not very favor
able at the moment. II must be
borne In mind, however, that as the
copper trade was the first to feel the
effects of the depression, 1t will I'M
doubtedly be the first to feel the eff
fects of any revival.
Mr.. John d. Ryan of the Anal
gamated Co. discusses this phase of
the situation In a very interesting
and convincing way and as he Is an
authority on the subject, a few re-
marks made by him a few days ago
are well worth repeating. Mr.. Ryan
says: "Sixty-six per cent of the cleo
trolytic copper produced is used In
making bars for the manufacture of
wire, used in building electric lines.
railway. power and electric light
plants and those industries were the
first to feel the retrenchment in bus
mess. The manufacture of wire was
curtailed. proposed extensions were
held up and the demand for copper
fell OF.
But we are getting our wind
again meaning the Amalgamated
properties at Butte) and are AT IL be-
fore other industries have recovered
OF course. we cannot keep II up In
definitely, unless the prosperity of
the country comes back, but | think
that is coming and in the meanwhile
we will go on more conservatively
than In the past, and We will continue
TO do better than any other commune
~ in the country.
The manufacturing districts SUI
fered much more by the business de-
preston than did the mining dis
tricts. In the manufacturing dis
tricts of this country many men are
idle. and the factories are not using
much of our copper product yet. but
In Europe conditions continue nor
NAL, ana Europe seems ready to take
all our copper AT reasonable price.
This is as good an opinion as can
he had on present conditions and
from it very satisfactory conclusions
can he drawn.