Bisbee daily review., 1908-07-31

think that confiscatiou of property by the government had begun. and they were very greatly treasured when they learned of their mistake. This recent court decision seems to be 8 guarantee that corporations will cun- tinue to enjoy tue right off fair trial, and that their conviction or acquittai will have for it's basis evidence ana the laws of the land, rather than the personal notions of individual judges or ambitious of political executives. This Is indeed bull point on the market.
 { For the first time since last October and November the public is bullish on the market. It was bullish at the bottom and bought tens of millions of dollars worth of securities, the greater portion of which have been sold on the advance. It is bullish again now, and is buying some stocks st twice the prices they sold for in the panic. I think the public will make money. if it holds the stocks bought now sufficiently iong: but it is my opinion that the higher priced railroad, industrial and mining s,ock will sell several points lower some time between now and election time. ! don't feel that there will be any considerable break in prices, but am confident that there will be a good-oldfashioned reaction in the higher priced stocks which will reach . to many of the lower priced ones. I The advance in prices has greatly increased the credit and buying ca pacity of all holders of securities. nF Upright future prospects are beginning to be in demand. Mining prospects of special promise are receiving at i tention. As I have stated before, i believe that the most money will be made during the coming few months | in stocks of a semi-speculative char iacter. Last week I said the stocks which looked most attractive to me were Parrot Arizona Commercial, Shannon, Boston & Corbin, Superior & Pittsburg, East Butte, Lake Cop per, Adventure, Mass, Michigan and | the Ely stocks. Nearly all of these, and the higher priced ones which ! mentioned also, have had substantial advances already. I look for them to sell still higher. I am especially bull | ish now on Parrot, Arizona Commer- Icial, Shannon, Adventure. Helvetia land Boston Ely.
 Arizona Commercials proposed is- sue of s500,OO0 of per cent bonds, icOEyertible into stock at S25, has been underwritten, and the underwric- ! ing oversubscribed. The bonds will be offered to stockholders. The sue cess of this plan to raise money for 1 the erection of a smelter and new mining equipment is pretty sure to icause Arizona Commercial stock to isell considerably higher. The con- ipany's capitalization is very small. Large bodies of high grade ore arc tbeing developed in its property. The company built a railroad last year. After it's smelter is completed it will | take it's place among the substantial tproducers and diyidend-paying copper icOmpanies.
 1 Adventure is operating two dia- !mond drills to further test the Lake lode, whica was discovered a few iweeks ago by one of these drills. It was cut, it will be remembered, 2,00G feet below it's surface cropping The character Of the discovery furnishes good basis for the belief that AdYen ture is yet to develop a great big iprofitable mine on it's property. I ad yised tine purchase of this stock wheI
 il was selGng under S4, and have
 called attention to it frequently
 since. If this find proves as good as
 is indicated, Adventure stock ma, sell for 10 times it's present price
 It will be remembered that AllOuei
 vas a fiuctuating prospect for mcri
 than 40 years. After it began wort on the KeaTssrge lode, however. tn, stock sold at S70. There is reason fO
 the expectation that Adventure ma,
 have before it what ATioueZ had whel it sold around 8 per share O course there is a large element O speculation in buying Adventure a present prices, but the chances ar ,syeTy strongly in favor of the buyer
 Tn view of what has been diseoyere
 already, l consider the stock an al tractiye speculation even up to $1 Der share. have seldom seen as al tractive a speculative opportunity 9