Bisbee daily review., 1909-01-31
STONE THINKS REPORT
 SUPPLIES EXAGGERATED
dHai7'Fa5sa E .
Inc General Market.

The General Market. Plenty Of money, but very little
 business seems to s'ze up conditions industriary and marketwise. Indus
 tr-ally. particularly in structural lines
 about the only orders received are s,s
 cured by cutting prices, while finan- e-ally, the stock market has to play
 seccnd fiddle to the bond market This is q condition to be expected
 following depression, especially
 when recovery is attended by such
 an uncertain factor as tEe possibility
 of tariff reduction. There is no req son to expect the listlessness to dis
 appear untfI the cause of the stIess-
 ress is removed.
 A good deal has beea made of the l figures recently published purport- ing to show a tremendous accumuIa-
 ton of copper. We cannot but think
 that these figures are somewhat ex. aggerated, and we feel certa n that at any rate tdey are misleading A large accumulation of copper today is a very different thing from what ,ft
 would have been ten years ago. and as We observed iu a recent article
 we.- in this country. are prone to oyer-emphas ze Over-production when. ever the output of copper is slightly
 In excess of consumption.
 We grant that the accumulat on oi the metal and some accumulation there doubtless is, though we beliey,
 t is in strong fands, VII tend to put
 a brake on any sudden advance, bu'
 We Ia l to see any great menace in thu present situation.
 Broadly speaking, we still believe l th2t thsre is only one way for copper ! to move
 With money as c-elp as it is. therC is only one way for stocks to move 1 tCo. but We don't lock for any great movement, except in spec'alities, in stocks or copper, yet awhile. Butte Coal ton, according to Butte adyices just received are to the ef rect that the sixteenth level cros-cUi i from the new Tramway sag has in fcrcepted the ore body wh ch proved | tac main source Og production iron the Minnie Hea'y pr CT to the passing of it's control to the pras-nt owners This ore body is already @ prOduc ' ing factor in the levels above. where . ' a7ossesses an abnCrmsi W'dfh and i from wrence the copper contents as say about 5 per cent.
 i The Butte Cca itun is now in posi- ton t9 Iroft from a port On of its 1 expenditures oS recent y7avs fq- cx | 'TCrd nary developments and suriac. ! improvements. which were by far m largest Of any company upcrat az iu i inc Butte camp. The present rate O ! reduction is about 512ooJ pound. i per month, wlicb promises to ccr ri"ua the frTt half of the current
 year after v-r irH nHH aai or beta.
 may be looked forward b.
 ! Tho Butte copper urOIa7 ion fIr
 l9GS has been estiwata1 at 26q165,
 Gf0 pounds, compared E jh 2l1k5T ,JOi Ucwds the year pTev'Cu7 Among td,
 lCeding producers. Butte Coalition | with an output reported at 2I.4SS. .0Oi ! pounds, waz inc only one to show Q | lalliuE off North Butte is credited
 with 3S,520 fSO pounds. wa'ca estab ! lShes a new record. even though tho
 m'ne was shut down for 8 portion oi 1 the period.
 i Encouraging reports from Greene I Canauea are at hand regarding the | exploratory operation of tEat proper | ty, particularly in the territory ad 1 joining the Cananca Ceutrol. where ! indications point to the opening C" a new and valuable ore body. While the final smelling returns are not yet at hand, the figures avail | able point tO 1908 having been the 1 banner year Ot the Quncy in the mat | ter of production The previous high record, 2O.546000 pounds. was sstab ! lisied in 1901.
 ExPend lures for constructions werc
 smaller last year than the year pre-
 vious. and while labor received al most the same remuneration. stin thS