Bisbee daily review., 1908-04-05
WALKER SEES
BETTER DEMAND
FOR RED METAL
Thinks Price Will Continue
FractionalIy Higher, But
There Is Yet Some Skepti-
cal Feeling.


Copper is fractionally higher and in
continued good demand. Lake is
now 10 1-S to 13 IA cents and cleo
trolytic is 13 cents per pound. Do
nestle consumers have bought quite
freely, many of them feeling satisfied
that the metal market is now recov-
ering from its depression and that
prices will be at least fractionally'
higher henceforth. There are still a
great many consumers who are skep-
teal of the market, asserting that the
current revival in general business is
what would naturally be expected af-
ter the relaxation of the strain of the
panic. They see political uncertainty
and continued business depression
ahead and they express assurance
that they viii be able to buy copper
later On at lower price.
1t will certainly require consider
able time TO restore confidence in all
branches of industry, and to satisfy
investors that they are warranted in
taking new issues of bonds and
stocks for the purpose of extending
existing industries and establishing
new ones.
1t is to be expected that a general
extension of electric railway construc-
ton and power development in Eu-
rope and the Far East will create a
steadily increasing demand for copper.
Until there is a decided revival of
business in this country, however,
there is likely to be a sufficient pro
duction TO supply all requirements
with metal prices at about their pres
ent level
All news has been good news this
week, and there has been better buy
ing of stocks than at any previous
time since last June. The market for
some time has been characterized by
a scarcity of offerings. During the
past few days, however, there have
been plenty stocks for sale. The activ-
ity and strength of the market attract
ed a great deal OF attention and the
public is again buying stocks. What
the course of the market will be, there
fore, depends upon the character of
the news ard political Developments.
A wise course to be followed by those
who have large profits in the more ac-
tive stocks is to sell On this advance
and be prepared, on the first reaction,
to purchase those good stocks which
so far have not participated equally in
the recent advance.
In the Butte group Of stocks, for in
stance, North Butte and Butte Coali-
tion, on their intrinsic value and earn
ing capacity, are selling comparative
ly higher than Amalgamated, Ana
conda and PARROT, and the former
stocks can be sold with advantage
and the proceeds invested in the lat
ter
In the Lake Superior group. Osce-
ola, Tamarack and Calumet &c Hecla
are much higher by comparison than
Copper Range, Wolverine, Quincy,
Ahmeek, Allouez and Centennial. In
the Utah group, Utah Consolidated
and Boston Consolidated are cheap as
compared with U. s. Smelling. Utah
Copper has had very substantial adj
vance. but / still believe. as did
when IL was selling much lower, that
it will be worth $50 within a year or
two.
Regular readers of these letters
should be well satisfied with the adj
vice / have given them during the
past six months. A few of the stocks
which / have persistently recommend
ed, this week showed gains as follows:
Amalgamated, s19; Anaconda, $13;
Butte Coalition, $12; Copper Range.
$21; CRANKY $50; Old Dominion,
$40; Parrot, SO; Tennessee, $40;
Utah Consolidated, SIS; Utah Copper,
500; Wolverine, S35: Cumberland-Ely,
IS; Greene Cananea, 81. Some of
these stocks, are now high enough;
but others are still cheap.
There are special stocks which are
likely to score substantial advances in
the near future. ] refer to those nom
dividend payers which win begin or
increase production, increase earn
ings OF, through other meTitorious de-
come into prominence.
Among these are Parrot, Nevada Con-
solfdated, Cumberland-Ely, Lake Cop
per, Greene-Cananea and, perhaps,
First National and Helvetia.
Superior & Pittsburg's annual re-
port f-r 1912 is issued. The company
3 .691. 405 pounds of copepr
from ore which yielded an average
of 1884 pounds to the ton, or 1853 per
cent During the year the company's
expenses exceeded income by 81 ,067,-
otO. Ihe rTcpOiL SuOWlHS an cACSSS Oh
liabilities over assets of $515.937. A
total of 23.232 feet of new openings
were made and some splendid bodies
of ore were developed. Genera MAN
ager Powell says Superior & PittsbEg
now has every prospect of becoming
one of the great copper producers of
the country"
Miami Copper Co. Is tn ename Of a
new firm which wiz be fioated by
Lewisohn-General Development inter
es-s next week. The company has a
capital OF 5000, 1000, divided into Geo.
900 shares. One-half Of this stock is
owned by the General Development
company. which purchased and has
extensively developed the Miami prop
erty OF the treasury stock, 100000
shares viii be offered to the public at
S. per chare and 100000 shares will
remain unissued. The proceeds OF
the sale OF the 100000 shares will be
used for the erection OF a concen-
traitor Of 1 200 tons daily capacity.
The Miami Copper company has de-.
veloped q large body of concentrating
porphyry ore about six miles west OF
the Old Dominion mine at Globe. II.
has 100000 tons OF this ore IN sight
which j. Parke Claiming says aver
ages per cent copper and will con-