Bisbee daily review., 1908-06-02
TAKING PROFITS
IN THE MARKET
DIDN'T IMPROVE
The Heavy Pressure on Anal
gamated Had a Bad Effect
on the General List of Cop
per Stocks.

The week opened with the leading
copper shares very active and strong,
and the outlook was for a continued
upward movement, but the advance
had heen so sharp In most of the &C
tive issues that there Was a natural
inclination to take profits, and this
resulted in a gradual decline, which
continued throughout the week. The
heaviest selling pressure was in
Arnalganated and as it seemed to
come from strong sources in New
York, il had a very depressing effect
on the general list of coppers, pairSc-
ularly ON the Butte group.
Sentiment on coppers Is bullish as
rue and the general belief is that
a turn VIII sooz come and that prices
will be much higher than they have
been before on this movement Re
ports from the Butte camp and sew
tral others show that costs are being
greatly reduced and that the leading
COMPANIES win be able to produce
copper at a good profit even at the
present price of the metal, and the
knowledge OF this condition is help
ing matters a great deal The street
argues that If the producers can make
a good profit now they viii be IN
line for handsome returns when the
improvements in general conditions
comes and they are buying stocks on
this theory.
The outlook, therefore is for mark.
ed Improvement throughout the list
Just as soon as the general market
stiffens up, and il is safe to buy the
good ones whenever they look weak
The feature of the copper .-.-tal
market this week is the fact that
American consumers are buying. Not
only are they taking considerable
amounts Of spot copper, but they
want quotations for immediate deliv-
cry up to, and including July. This
increased demand has not causeu any
considerable jump in the official quo
tation for the price of the metal. But
the mines are not at all anxious TO ac-
cept orders at 13 cents a pound, al
though il can be bought at that price
elsewhere.
The manufacturers of the Connect
cut Valley are reported as still feel
ing blue, and their plants are work
ing only four days out of the week.
As this section of the country uses
from one-third to one-half of the cop
per manufactured in this country, the
manufacturers has great bearing on
the price of the metal Firms with
headquarters in the large cities, how
ever, say that from the way orders
are coming in for their own product.
business is certainly picking up.
Atlantic.
The course OF Atlantic in Boston
has naturally reflected the feeling
at the Lake and in inside circles that
at least the property has struck the
Baltic lode and will make a new mine
without any present attempt to re-
open the old shaft from which it in
former years earned dividends. Never
theless. while the future of Atlantic
looks brighter At the moment than IL
has for many long months. it is diff
cult to see how there is going 10 ne
very much in it for the stockholders
in the immediate future. II takes
time and money TO open up mine,
even after the lode is struck. and il
is possible that Atlantic stockholders
will have to pay an assessment before
they receive a dividend.
The strength in Calumet & Hecla
shares has been one of the leadinf
features of the Boston nlrket this
week. Naturally trading in this is
sue is limited, as it is such nigh
price proposition, but the street is
better satisfied that conditions in the
copper metal and share market are
all right when Calumet is rising, even
on transactions in one share lots. The
rest OF the copper share list might be
boiling but II the price of Calumet
remains stationary, it will be difficult
to induce any real investment buying
of copper shares.