Daily Arizona silver belt., 1908-02-07
MARKET VIEWS OF
 NEW YORK BROKER
CatIin in Weekly Letter Says Financial Conditions Are
 Much Better,
New York. February 1,

New York, February l. The aftermath of the October panic | has been seen in the events of the past week in New York. Three weak ened New York banks, which the Clear ing House has been supporting, have been allowed to fall, the props having been removed. The conservative bank CTS at the head of the Clearing House association decided that these banks must liquidate and go out of business and they have deliberately wiped them out.
 Many careless students of the mar ket and of financial conditions see re newed cause for alarm in the closing of these banks, but the we'll informed see merely additional proof of the fact that the financial condition is now safe and sound. The allied banks of New York could not afford to let these banks close last November. They can afford to let them close now.
 Liquidation is still running it's course not only through the stock markets, but also in all lines of commerce. The locomotive is slowing down to take on new coal and water for another fast run. The stock markets are hesitating. One day there is good buying and healthy tone. The next day sees liquida, tion of accounts. It is the general be- lief that the market for rails and indus trials will hesitate for several months. In the meantime the technical position | A .l< Co On oil raaaSosan0
 Bear influences of the week have been the renewal of the governments s attack on Standard Oil through the bringing of several new suits, and the beginning of its promised attack on the Union Pacific.
 In the meantime Wall Street is pre- pairing to bring all its resources to the support of Hughes against Taft.
 The announcement is made positive lly though not officially that the control of the American Smelling & Refining company has passed to the Standard lOn-Amalgamated interests, The writer of this review gave out this as news more than two months ago. This fact i. that this control passed in the dark est days of the panic last fall. It was the price which the Guggenheims paid for support. There has been no denial of the newspaper reports so boldly printed this week that the Anal gamated is now the chief owner in the vast interests controlled by the Shelter Trust.
 This is the most important news of a decade to the mine owners of the west. It means more stability to the mining industry-partieularly to the copper mining industry--than it has ever en- ioyed before.
 The curb and mining markets have shown steadiness through the week. There has been much buying of Nevada Consolidated, Cumberland Ely, and Con solidated Arizona. The public is not selling these stocks now. It has con. fdenee in their future.
 Butte Coalition is up more than thir. ty per cent from its low point. Davis Daly has recovered several points of it's loss. The Heinze issues are show ing life. The coming to l:fe of Stew art mining eople has been one of the sensations. The Heinze people act as if they did not want United Copper to advance. They know it is selling far below asset value, and would be glad to pick up such stock as is for sale if they had the money.
 Lawsons Nevada Utah campaign is tagging, but the stock is steady and it is believed generally that Lawson will carry out the program he has already announced. This program includes ad- vaneing Nevada Utah to ten and put ting Nevada-Utah, Trinity, Balaklala and Consolidated Arizona together in one big company.
 Confidence in the Goldfeld list con tinues strong. The stock of Goldfeld Consolidated is being distributed wide fly. All the elements which will make for big, broad market for the stock later on are being provided.
 The new interests in Consolidated are very great, and the pool which is behind the stock can be described in no other way than by the term "Colossal. '
 DONALD c. CATLIN.