Bisbee daily review., 1909-02-07


 Geo. L. Walkers letter tells what Mir. Walker expects during the present year from the propert es mentioned:
 Amalgamated is again on a normal basis of operations. The dec sion of the Washoe smelter smoke case was handed down th,s week in the com pany's favor. l think the figues pre- sented for it are conservative and trat the company can b. dzpended upon to earn at least $ per cent va the present selling price of its stock this year. If the stock declines to around $75. 1 think it should be bought and held for i5 to 25-polnt advance.
 ARnaconda Is relatively higher than most other Butte stocks. The floating supply of the stock is small. however. and it does not decline eaS- fly when the market is under press ure. IL will be remembered. also. that Anaconda Has a large cash sur plus, probably over SS.000. GOO. IL is able to earn very fair return on the present price of Its stock; but so far as [ can see. there is nothing ahead of the company except a slight in crease in dividends Je encourage any one to buy the stock for an advance.
 think Amalgamated, North Butte, Butte Coalition and Parrot better stocks to held for investment or spec ulation than Anaconda.
 Boston CoEsclidated's prospects are looking brighter thar they have for the past year. However. a portion of its earnings will have to be used to pay interest on suca ui Its con- v htible bonds as remain outs.an1jnS.
 Butte Coalition will increase is production somewhat this year T. should put out at least 3}.H9.90o pounds of copper, and should further increase this next year. As | kas extensive development work lrdcr way. tho cost of it's copper is likely to be at least 1Ois cents, and I'Gssibly II cents, this year NBx- year the cost should be 10 cents or less.
 Calumet & Arizona is eYpendins- 2 very large amount of money jn vy pioratory and development work on properties t holds under onticp, CT by recent purchase, outside of the Bisbee district. Though i. should earn at least sS per share this year. ]; is hardly probable tha. f wI'l pay more than S6. as compared with Sf per share paid last year
 Calumet < Hecla win produce ab0ut so. .00o. GOO pounds of copper from it's own mines and will own 10000 GOO pounds or more of additional produc- tion through its holdings of Osceola. Centennial. AlloueZ and Superior Cop per stocks. Its cost per pound of cop per produced. formerly around six Or seven cents. has increased very greas- ly during the past few years as q result of the decline in the average grade of it's cOnglomeratc rock, and the treatment of a large and growing tonnage of low grade rock from the Osceola lode. l think Calumet & Hecla stock comparatively h'gh. as compared with other investment cop pers. d. S<i
 Copper Range will easily be able tO continue it's present quarterly dtvi- dends of s1 per share. It should considerably increase its production this year. and if the expected improve ment on the Trimountain mine ma terializes. its production will exceed 36 900 900 pounds. and its cost per pounds will drop 10 ab0nt nine cents Cumberland Ely is steadily increasing it's production and adding to its de veloped ore tonnage. hS ores are higher grade than those of tne Ne yada Consolidated. It has no bonded indebtedness. and it owns one-half Of the Neyada-Northern railroad and or the Steptoe concentrator and smelt- CT. Something oyer 100000 shares of a N.HH AN.n vada Consolidated. was recently 2ur- chased privately by strong financial interests. There is every reason to believe that this stock will sell higher lE the very near future.
 Granby Consolidated, as shown by the fore going figures, is one of the cheapest copper stocks on the market. ! have discussed this company's sr'