The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1908-02-24
TOO MUCH CAMPAIGN
NOISE OF WRONG KIND
TO ALLOW RECOVERY
George Walker says in his weekly

George Walker says in his weekly
copper letter:
The price of copper is declining.
Lake Is now about 3ss to 1877
cents, and electrolitic Is "A to 10 u
cents per pound. During the past
ten days there has been almost no
new enquiries from consumers. Evil
IDENTIFY the Roosevelt message and the
Taft and Bryan speeches were wet
blankets for the reyiving confidence
which was making its appearance in
the manufacturing world. Perhaps
the president is misunderstood but
however that may be. his most re-
cent utterances and this sudden re-
turn of chills and fever to the bust
ness and financial centers are coin
cident.
A week or two ago there was ey-
cry reason to hope that the Washoe
and other big copper smelters would
resume operations soon. At present
all that can be said is that further
business developments must be
awaited The prospect is that the
domestic consumption of copper will
continue Very Diut1 itotfit III
several months to come. Ii is hoped
that the foreign demand will be large
enough to take care of the surplus
from our current volume of produc-
ton, which. it will be remembered.
Is only 60 per cent TO 20 per cent
of the capacity of the combined srel-
tiers of the country.
At this writing the outlook Is GER
tainly cheerless: but better times are
probably ahead. Only very brief
time will be required for full re-
covery, after the pendulum starts to
swing the other way. Everything is
now dependent upon resumption of
general business activity, and this is
awaiting the return OF confidence.
Political developments alone are
responsible for the extreme weakness
of the stock market. With the pros
pective candidates of the two lead
ing parties pronouncedly antagonis-
tic to practically all forms of vested
capital their public utterances char
acterized by Incorporate language
and open threats, rather than by en-
couraging, conservative, practical
suggestion, it is not surprising that
there is lull in investment activity
on the one hand and heavy Iiquida
ton on the other The current de-
cline is not due to previous over
speculation or to manipulative ope-
rations 1t is plainly the result of
heavy selling from safe deposit
vaults and strong boxes. | find
scores of investors declaring: Il
don't like the looks of things. 1t
does not seem to me wise to buck
the white house. | want to be long
on money. When the people wake
up and take the thing in their own
hands, it will be time enough 10 buy
stocks"
feel very hopeful that a eonser
vative man who will inspire public
confidence will be brought forward
and nominated by one of the leading
parties, and that he will be elected.
| expect the financial atmosphere to
change for the better soon. Those
who in the past have bought stocks
when the outlook was darkest have
made the most money. Though no
one would be warranted in putting
all the money he has into stocks now,
unless he is able to pay for them
outright, | firmly believe that big
profits will accrue, within a year or
two. to those who buy Amalgamated.
Utah Consolidated, Utah Copper, Ne
yada Consolidated, Cumberland Ely
and other good coppers at current
prices