Bisbee daily review., 1908-08-23
REIMBURSEMENT
! IN THE MARKET
At THE CLOSE
Good Many Stocks Still Re-
main That Have Not Made
Any Advance-EaSt Butte
Has Become Active.
Frank ]. Graft

The close of the week has been OF
a readJusting nature of the better
class Of securities, which has been
due for some time to come. Since
last spring the market records have
been on constant but steady advance
and many new high records have been
seen all along the list and during
all this time there has been no break
OF any consequence. During the last
two weeks, however, the markets have
taken quite a turn in so much that
there has been considerable profit
taking. Many Who have bought up
stock at panic prices have already ia
ken their profits, that is the larger
majority have taken advantage of this
procedure. With the market in its
present condition, is the best evidence
in the world that this method of profit
taking has been carried on, and with
very little effect. These profit takers
are now getting into the market and
at the same time are in a position 10
buy up stocks that banks are only too
glad to lend money. Taking all these
conditions into consideration there is
nothing TO prevent US from having
one of the most encouraging markets
we have had for some time, and at
the same time we must expect some
reactions in the market, from time to
time, although no serious break should
be expected.
Regarding the money market we
could not look for a better one, with
prevailing prices at 1.25 and time
money at $50 to 4, we have nothing
to fear. The present money condition
reminds us of 1904 when the West
had all kinds of money and when it
came TO crop moving there was no
necessity Of going to New York for
funds TO handle them.
There still remains a good many
good stocks that have not as yet made
any material advance, but such an ad-
vance 10, certainly due. Greene
Canaaea shosfad see better prices, but
on tie other lhand~when there are re-
ports that Greene Cananea is making
copper at cents ! am inclined to be-
lieve that some writers are putting
the cost all together too low, for it is
impossible for them to make copper
at this time at that figure and l doubt
very much iEtheTe is property in the
territory that is making copper at
that figure unless it be the Calumet
& Arizona.
East Butte mas become one of the
active stocks of late and from all in
dication is destined to become a good
property. The capitalization is small
and l understand that arrangements
have been made for new blood and
money to carry on extensive opera
tons on the property. The greater
part of the work on the property has
been done by leaseTs, and the royal
ty alone has been almost 100000
The meeting OF the Calumet & Arizo-
na was held in Calumet on Wednesday,
but no definite action as yet was ia
ken in regard to the coming dividend
North Butte is expected 20 hold its
meeting within a few days, but it is
not expected that it will pay any
more than regular S1.00. Superior &
Pittsburg. which has just undergone
an examination to be listed on the
Boston exchange, is developing dai-
Iy into a larger and better property,
and understand that they have en-
cOuntered ore on the IA hundred.
Shattuck and DEM Arizona have been
the most active stocks on the CurD
during the entire week, and up TO the
present time there is no definite
reason for the advance. Dem ATiZo-
ma has been in fair demand at 4 TO
412 and ShattUck at the close Of the
week was selling at II. These prices
are hard to regulate, for Bisbee is not
selling either of these two stocks,
and furthermore, they are not buy
ing. and from this we are lead to be-
lieve that Duluth is making the MAJ
ket for the stock. Shattuck ought to
see better prices and is worth much
more than it is selling for, and no
good reason why ilseshould not sell