The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1909-11-09
GAY G. sTURois Gossip.

New York, Nov. S.-The German
bank rate has not been advanced this
"a. m. This should cause a somewhat
pected on Friday and Saturday that
this rate would be advanced. How
ever, there is talk of it's being adj
vanced next week and there is also
talk of the English bank rate going up
on Thursday. on Saturday | cabled
our London correspondent asking what
they thought OF the chances of the
budget passing the house of lords.
This morning they answered that they
doe not think that the budget will pass
the house of lords. This means that the
Bank Of England will have to finance
the country, pending a new general
election which, of course, means that
its rate OF discount of necessity have
to remain at high figures. There will
probably be a good deal of gossip in
Wall street this week regarding the
political and financial situation in Eu
rope, which I'm my estimation will
cause some irregularity in prices. the
street does not like the heaviness of
Penna and lower prices are being pre-
dictcd for these railroad issus which
have recently announced new issues or
stock. The bull accounts in the in
dustrial shares are getting a little over
extended at the moment. The princi
pal bullish talk i'm the street is still on
the copper stocks, much higher prices
being predicted for Anal. and Ana
conda. II is expected that the copper
producers report TO be published on
the 10th will be the best for many
MONTHS. w. p.
Boston, Nov. Sit comes from a
high Guggenhcim source that the ru
mored copper consolidation has made
such progress that it only awaits doe
umcnts TO complete the trade whereby
the so-called Guggenheim copper pro-
duccrs will enter into contract rela-
tons with the Amalgamated- Cole
Ryan properties. The head of a New
England corporation, which is a sub
stantial consumer of copper says: Il
have not taken much stock i'm the talk
of a copper consolidation until Mon
day when | was called on the tele.
phone from New York by prominent
interests and IL was suggested to me
that ! had better buy line of copper
Immediately if / desired to take ad'
vantage of the present low prices.
The ground for this advance was that
the copper consolidation is now an as
panies are involved except the Calu'
met & Hccla, and that even the Rio
Tinto, abroad, will work i'm harmony
with the new combination; that the
matter is only awaiting the return
from Europe of Daniel Guggenhcim to
sign formal papers. ON the above in
formation | purchased a considerable
block Of copper, for | felt confident
that New York metal interests with
whom | have done business for years
would not give me a yarn for the sake
of selling little copper for they
knew / would be obliged to buy in the
near future anyway"
Calumet, Mich, Nov 9.-The gen
eral market opened fairly strong, but
was followed by some profit-taking
which caused prices to fall off a lit
tie
Lake and Superior Copper were the
active features i'm the Boston market, !
the former selling up to 1885 on large
of buying. The latter sold ut
Sc, both stocks weakened later i'm the
day. There was good demand for Ne
vada Consolidated which was traded |
In very heavily up to 27%.
In the curb list. Homestake was !
rather weak. being offered at SO on
news of labor troubles at the mine.
Ely Central sold down To 4, with |
seemingly little support being given It, |
The balance of the curbs were quiet
md without feature.
London copper opened fractonal'y