Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1908-06-07
COPPER WEAKER
LAKE IS CENTS,
MONEY IS EASY
Official Reports of Production
for Last Year Show Falling
Off in All Parts of the United
States-Walker's Letter.
CWalker in Boston Commercially

walker in Boston Commercially
Copper is a shade weaker. Lake
is offered at 10 cents, and eie-ctrolyt-
ic at ~ rs cents per pound. It is
understood that there have been sales
recently at these prices and also that
electrolytic has been sold in million
pound lots at II ga cents It is prob
able that the reaction will prove tenn
porary as it was brought about by a
sudden loss of confidence resulting
from or accompanying the severe
break in stock market prices.
Whether this decline in prices fore
casts further recession in business
activity is not yet known. That bust
ness Improvement has begun is true
beyond question. 1t may bs ca
pected that the resumption will De
characterized by the usual 1uctua-
tons, and at times the outlook viii
be exceedingly unpromising. Money
is easy, however, and unless suits to
disrupt existing railroad combinations
are brought by the government, as is
now threatened, confidence in securi-
ties viii surely return, and the
needs of large railroad and Industrial
corporations will be financed. This
will result in increased employment
of labor and a renewal of business &C
tiyity. 1t is the financing Of pro
posaE extensions and new equipment
for these large enterprises which Will
make a good demand for copper. FiS
cry successful bond flotaHion is .
bull point on the metal marIe'
Official reports of last years cop
per production are being published.
They show a falling off in practically
/ every district in the United States.
| For instance, in the Lake Superior
! district there was a shrinkags OF
! over 100000 pounds, compared
with the preceding year, though the
! curtailnent during the closing
months of the year was much hYhlsf
| there than elsewhere. Production
throughout the country is now be-
! tween so and So per cent of norman,
\ and the prospects are good that by
| July l all the mines and smefters
| will be running to approximately
| their full capacity. Production costs
/ are being reduced everywhere.-It
! can be put down as practically Ger
| tain that before the end of the year
| there will be a demand for all the
copper the mines can produce at -
! higher price than it now commands
| in the market.
Again there has been a severe
break in prices, proceeding from
causes which are extraneous to or
binary financial and business affairs.
The bringing of the suit by the gov
eminent to prevent the merger OF
the New Haven and Boston & Maine
railroads, at a time when 1t was
practically settled that the Massa-
causetts legislature would refuse its
sanction to the proposition, i'm
pressed business men everywhere as
a dangerous political movement. 1t
caused them to fear that other suits
would be brought and used for CAM
paign purposes. While the prosperity
of this country in no way depends
upon the New England merger ques-
ton, business and financial conf
dences are very largely depend
ent upon the attitude of the national
administration towards corporate Or
CARNATIONS. AS long as this litiga-
ton and Investigation policy con-
tinues the number Of buyers of secu-
rites is likely to decrease, and the
number of sellers is pretty sure to in
crease; consequently prices may be
expected to decline. a
The sustaining Factor in the situa-
llOu Ut pEeStHl Is the low prize level
on which securities are selling. An
other factor which makes 1UT
strength is the small speculative in
terest in the market. as shown by
the limited volume of stocks carried
on margin by commission brokers.
There are a great many bear traders
who sell the market every time it
rallies, and their buying helps to 7up
port prices on declines. Bear cover
ing also brings sharp rallies Of the
character which we witnessed two or
three weeks ago. Other sharp rallies
may be expected; and unless there IS
further outbreak at Washington,
prices Will be considerably higher
soon after the two leading parties
hold their conventions.
am buIlish OF the coppers. AMI, on
declines of this characteS, l adTise
purchases.