The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1909-11-16
GAY & sTUReis GOSSIP.


Yesterday afternoon / had n long
talk with man of national prom
inence both i'm the financial world and
i'm the copper trade. / have every rea-
son to put confidence in what he tells
me both as to it's truthsulness and To
the correctness of his knowledge and
Information. In substance this is what
he has told me: That there will be a
copper consolidation; that the details
Of it will probably be announced with
i'm the next thirty days; that the prop
critics which will surely go in at once
Will be the Amalgamated, Anaconda
and the ColeRyan properties. The
Cole-Ryan properties are North Butte.
Butte Coalition, Greene Cananea, Cir
oux and probably Superior & Pitts
burg. My informant tells me that IF
all these stocks, Greene Cananea is
now relatively the cheapest and those
people who buy il now will get a rel
atively larger profit in the Greene
Cananea which is turned into the con-
solidated stock than on any one Of
these other stocks. outside of Ana
conda. and Amalgamated in which Of
course there is the biggest market,
should prefer to buy Greene Cannanea.
j. w. Prentiss.
Boston, Nov. 6.-Arrangements re-
Gently concluded have given practical
control of Western Union to American
| Tel. and Tel. Co., which has acquired
and paid for a substantial minority
block of the approximately $100,000,0 900
| Western Union stock outstanding. In
! addition the Telephone Co. has Sc
/ cured voting rights attaching TO
enough more stock to render it DOM
inant in the management and business
policy OF the Telegraph company
Dow, Jones &Co.
Boston, Nov. ia special meeting
of the Tamarack Mining Co. will be
held Dec. II to vote upon transferring
the property known as the Cliff land
to new corporation TO to be organized
for mining on said lands, and to con-
slider on what terms the stock of the
new company shall be offered to
stockholders of the Tamarack Mining
Co.-News Bureau.
market had the ear-marks of a regular
copper boom. Greene Cananea, GirouX,
North Butte being the leaders. Greene
Cananea selling up to 14%, Giroux liz
and North Butte 64k. Superior &
Pittsburg also showed strength. ad-
vancing to IT'S.
London copper advanced a pound for
the day, with sales of 1000 tons.
In the curb list Corbin Copper adj
vanced to ca, Ohio Copper to SIS.
There was not many changes in the
balance of the list.
At or near Is cents the larger Amer
lean consumers contracted for large
amounts of the metal with the result
that they now have sufficient stocks to
carry them over the year end and in
many cases through the month of jan
uary These enormous bookings total
in excess of 125, 900 900 pounds of cleo
trolytic copper.
There were sales of Lake copper last
week at 1914 cents, but since the adj
vance in electrolytic there have been
no transactions of note in this grade.
Producers are quoting 1875 and 1917
cents, however, to inquirers.-Gay &
Sturgis.
New York. Nov 16.-The European
visible supply of copper reported today
is 102.950 tons. compared with $4,000
tons on November 1, an increase of 3D.
500 tons.
Boston, NOV. 16.-The News Bureau
says: 1t is doubtful If any electrolytic
copper, at least in large amounts, could
be obtained today at better than 13A
cents pound for all Of the large SELL
| ing agencies, including the United
Metals Selling company and its COM
petitors, have advanced their price to
| this level