The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1909-10-23

of the newspaper yarns that the firm
of John Pierpont Morgan and COM
pany is becoming interested in the
copper mining business and there are
many signs which point in that direc-
ton. The one important obstacle which
has steadfastly stood i'm the way of a
big copper producing combine is the
Calumet q Hecla. That comany en-
tered upon n policy of expansion a few
years ago as much to save itself from
its enemies i'm the business as for the
maintenance of it's copper production.
Its expansion program has now made
the Calumet * Hecla more and more of
needed factor in any world wide
scheme for an amalgamation of the
has always stood out in frank protest
against any combination and there ia
no reason to believe that he has chang
ed his mind on the subject in recent
years. The younger men i'm the domin-
ion of Calumet q Hecla affairs are not
so strongly opposed to a combination
but President Agassiz continues to be
the actual and active head of the CAL
umet & Hecla corporation and will
maintain his position for years to
come. However there is n general
sentiment here that ultimately n com
bination of the copper interests must
come about. along the lines of the steel
corporation and that it will come about
within few years. either with or
without the Calumet q Hecla. II is
also figured that If the Morgan people
have taken hand i'm the copper bust
ness they will see il through. The
Morgan people. with their present
standing at the head Of the financial
interests of this country and with their
record of successes and reputation for
honesty i'm business matters could
bring the Calumet & Hecla people to
see the advantages of such an ASSOC
citation, If it is possible to interest
them under any circumstances how
ever favorable.
May Go Without Calumet
1t should also be remembered that
the United States steel corporation
does not by any manner of means,
control all the iron ore output of the
but just about half of the total
product of the mines and the same
thing could be done in the copper bus
mess, without the Calumet IL Hecla.
II seems likely that the Calumet 81
Hecla. while it may decide to stand
aloof from any copper combination.
might not oppose a combination of
other copper interests and might will
ngly work In some sort of a satisfac-
tory arrangement with such a COM
bination. just as many of the smaller
steel interests work i'm harmony with
the United States steel people. to avoid
suicidal competition. II is assumed |
that If the Morgan interests do go into |
the copper business they will go I'm
right and will not only include the bulk
IF the copper producers. but also the |
big copper manufacturing interests, |
such as the General Electric. the West
ern and Central Electric and other
concerns affiliated with those interests
N which Mr.. Morgan and his asso-
,iates have a substantial financial in
restment at the present time.
There is no apprehension felt at the
lake as to the effect such big COM
,ination would have on conditions in
he mining districts The Illustration
" the United States steel corporation
n the iron mining districts is salts
actory evidence that there need be no
occasion for apprehension.
Persistent Buying
One of the important factors which
las been interesting the copper share
market for the past two weeks has
'een the persistent purchasing OF
Suite Coalition and Greene Cananea
tocksS There seems to be regular
nd substantial investment demand for
9th of these issues. Information from
he two properties would indicate that
hose who are making such large In
estments in these two issues are sat
SIZED that the metal situation VIII
make a better price for copper within
NtC0A oil ~ |