The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1909-10-09
THE STOCK MARKET


plan is an old one apparently works successfully
every time 1t is operated steel Common being the
most active the advance was again the lead
er in the decline and off points from
the high of last WEEK.
There was particular t account for the de-
cline except the advanced above The stock
market is in a strong position strong enough to
clude the possibility of any drastic drop despite the
fact that present quotations generally conceded
Ito be high There has been distribution of stocks
noted but any alarming exent
on all sides come reports of the prosperity of the
Icounry. Mills factories working to capa-
city. The successful harvest a heavy by farm
ers has added enormously to country's wealth.
The only unavoabe factor has been the short cotton
crop
The money situation has entered largely into the
stock market during the past few days. Call mon "
advanced per The of England raised
its rate of discount. Gold exports threatened
and all these combined to put damper to the over
enthusiastic fever of speculation which threatened.
The reaction has been favorable and firmly
builds foundation for future movements.
The copper share market has been unsatisfac
tory This is largely due to the weakness in the New
York list The coming copper report, which is going
to be an unfavorable one has also contributed the
state of the metal shares. any material decline VIZ
believe the better class of copper should be
bought though do not expect any sudden rise.
THE METAL MARKET
The Copper Producers association is scheduled to
make public the figures of the metal situation next
Monday 1t will be unfavorabe report. showing
increase in the surplus stock of copper result IF
September operations from 100000 to 2OOOOOOO
pounds. probably nearer the larger figure.
This large increase is due primarily the decided
falling off in the foreign demand the red metal 81
far this month there little change in the
situation Unless this foreign buying becomes brisk
we likely to find the October report even more
bearsh than the one will have opportunity 70
peruse in day or two Home consumption of the red
metal alone is the only bulsh argument The demani
is strong and while buyers not find it necessary
Ito bid up prices the better class of copper can lie
easily sold at prevailing figures
The rumor of an organization to regulate the produce
ton of copper will not down. That such an arrange
ment would prove profitable industry is gener-
ally conceded If the output of the copper mines II
the world was to be curtaled for few months it
1t so badly needs and which could from no oth
source
Copper is selling quite freely at 10 cents per pound
Buyers easy to obtain the metal they reoire NJ
this figure, producers are not required 70 shade
these prices as yet Much been expected from the
copper business for October November but we
hardly expect anything in way of sharp advance
under existing conditions.
SUPERIOR & PITTSBURG-
There was quite activity in Superior G. Pitts
burg this week at higher prices Several directors OF
the company recently property and II Is "a
ported that they were pleased with the developmen.s
SINCE iast they visited the mine. confidence that
hey expressed in the property extended with the
result 'hat the stock has had advance. visitor
10 the mine recently stated that Superior & Pittsburr
mas aVaabe for shipment enough to maintain its
p"' piouueuoh FOR at least two without any
ier ueVeiopment work The same stakeholder Of
INC company ADDS that the shares of Superior Pitts
burg should be selling nearer $50 than the nras
snt quotations.
we are given to understand that work at the Briggs
smart VIII be resumed before the close of the present
year. The territory tributary to this shaft has hoo
well drained through the Junction making IL possible
70 SILK win no great difficulty 1t be recalled
hat the Briggs shaft was believed to be the hest OH,
''eu when Calumet q Pttsburg operated alone. When
water seriously interfered with operations II was do
'ded to discontinue the Briggs and drain throueh ,ho
junction The water problem is in excellent shan,
iow The big pumps in the Junction are easilv hand
ing the fow
As greater depth is attained in Superior G. Pitts
urg SHAFTS II brings out the fact that not sunicon
epth was attained when lateral work was done abova
lie I2oo-foot levels At the Junction SHAFT largo nm,
ieh ore is being uncovered at the 14oo-foot io,,
ne Hoatson continues to be a prolific producer
superior Pittsburg is in good shape marketwise
me ouk OF the stock is held by interests who will NOT
rear up any until at least s25 is recorded for
ne sock' There Will be some selling at 500 but when
us inquire Is passed the next jump will be a rapid
- ""'" "e'' conditions are more satisfactory tho
ompany will arrange for an increased outnut
AXE COPPER