Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1908-03-08
RECENT SALES
CLEAN UP The
METAL STOCK
While Home Demand Contin-
ues Small There Has Been a
Large Amount of Foreign
Buying at Low Prices.
(By G. L. Walker in Boston Com
Inerciai1

| (By G. I. Walker in Boston Com
merciRl)
Copper has been slightly frmer.
Lake is now Is, and electrolytic
~ rs cents per pound. 1t is under
stood that sales during the past three
| weeks aggregated 60,000,000 pounds,
and that approximately all the copper
| above ground has now been sold.
Foreign manufacturers have been the
largest buyers, but domestic consum-
ers have taken more copper than for
a long time past. Supplies in the
| hands of the latter, however, are ex-
| ceedingly small, and it appears that
they have not yet sufficient confidence
| in the business future of this country
to buy in excess of the immediate
| needs.
This undeniably is a period of I'M
certainty in the business world. ~
erybody is disposed to await the def
mite developments of this particular
stage OF the presidential campaign.
After it is known whom the candi-
date of the dominant party will be,
there probably will be & marked i'm
provement in business. A considera-
ton of all the factors in the metal
market leads me to believe that the
price of copper will gradually adj
vance, and that it will reach Is cents
| before the end of the year.
/ The recent buying demand which
has caused the advance in coppers
has come from those who are com
monty termed insiders-the men who
have the largest interests in the cop
per producing business and who are
in the best position to analyze future
business prospects. The public has
not been a factor in the market since
| the Roosevelt message and Bryan
speech of three or four weeks ago.
i Butte stocks are being bought in an
ticipation of resumption Of opera
tions at the several mines AID the
Washoe smelter; and they are like
| ly to be the speculative favorites for
some time to come.
There is hardly a bullish factor in
sight. Only those individuals VINO
have more than an average supply OF
red blood are able to muster up suf-
ficient hope. and courage TO buy
stocks. II, may be said without fear
of contradiction, however, that there
never was a nme in the past when
the outlook was equally bearish which
did not give way to bullish activity
and higher prices. The outlook is
just as bearish now asst was bullish
a year ago.
\ The present basis FOR confidence
and courage-and 1t is always a re.
liable oRe-is the very low level OF
prices. Good coppers are entitled tc
sell considerably higher, notwith-
. standing the 13-cent copper market
4 u. l..rxv Tk.I
Consolidated, Amalgamated, Copper
| Range. Butte Coalition, Anaconda
Quincy. Calumet & Arizona, Utah
Copper, PARROT, Nevada Consolidated
| Cumberland Ely and Arizona Com
mereial. Among the low priced spec
ulative stocks, Helvetia, First Nation
al and Butte & London look most at
tractive.
Amaigamated may resume general
. operations within 80 to 60 days. Il
4 is the best opinion in Butte that John
d. Ryan is returning there with or
/. ders to organize working forces and
start production at tie Anaconda
North Butte, Butte Coalition, Parrott
and Gagnon mines, and OF have the
Washoe smelter blown in to treat
their ore Leading officials declare
! that the Amalgamated company car
produce its copper at an averags
} cost of 10 to 10 IL cents per pound
This will enable 1t, on 100000. 900
! pound annual output, to pay divi
dends Of 81 per share on a 13-ceh
copper market.
There is the best reason for the be
lief that insiders have been buyers
: OF Amalgamated stock recently. By
the time all its mines and smeltef:
are operating again the stock Should
sell at S65.. The opportunity to eul
as good a stock as Amalgaraate1 a.
less than $50 per share is one tina
should not be missed. The stock il
worth twice its present price. II II
speculative favorite, also, and viii
be one of the first stocks to advance
the discounting of business improve
ment begins.
Butte Coalition has encountered
i very rich ore on the 1,600-foct leve
: Of its Rarus mine. It 70 le 10 IL fee
, wide, and feet of it will average =!
per cent copper. The rest is goot
concentrating ore. 1t has been drift
! ed on for 200 feet. 1t will be open
ed sooa on the 1,700-foot level. Til
company has continued development
work steadily, and is prepared TO pu
I out 1900 to $500 tons of ore daily.
? after the Washoe smelter resumes.
9 North Butte has been bought by IN
: side interests. There is a large ton
5 mage Of ore blocked out in its mine
much of which is very high grade. B.
, mining only the richest of it, Nortl
: Butte can make a large prodhctio,
and earn good dividends aftes IN
Washoe smelter resI.nes operations
At its present price North Butt
stock is cheap. Il is my opinion
a however, that a given amount o
s money can be invested 10 better 20
J. vantage just now in An,algamated c
2 Utah Consolidated.
|. Tennessee Copper's annual repor
for 1907 is issued The compan
produced 12.599.0e1 pounds of I'm
copper from it's own ores. and POS, 10
. pounds from custom ores. OF its prC
e duct, 2,230, 136 pounds was electro
, lytica1ly refined, evidently for III
}. purpose of recovering the gold an
t. silver, contributed chiefly by the GU