The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1909-10-02
THE STOCK MARKET

The so-called eighth wonder steel Common, has 30
completely overshadowed the entire stock market by
it's unprecedented advance, that rule movements
in other issues have not been noticed Steel yesterday
advanced s92, rise of almost points in weeks
time. OF course the is largely manipuativs.
but because of the large Of stock outstanding
1t readily apparent that behind this manipulation
there is for the advance. This be
cribed only the general betterment of business
ditions.
Copper is the laggard. 1t has not shown the revival
of interest apparent in most other lines Steel and
iron trades report influx of business which b.
handled only with difficulty Not only conditions
bright in these lines moment. prospects for
the future equally favorable. 9.
There is every factor conducive TO an active stock
market. The public has money which it wants to in
Business conditions favorable and the tech
position just right. All that
mains to get stocks a little to permit the pub
lie to get in, not at top prices
OF course the metal market does not afford great
couragement for active copper share market. An
being to get better the copper
situation both home and abroad. The success c:
such plan would decidedly higher prices for
copper stocks.
For the present we believe that activity will be con.
the so-caed Calumet & Hecla issues, but this is dis
couraged by the officers of the big company Among
the dividend payers Osceola Calumet Arizona, Utah
Copper and Mohawk. Among lower priced stocks.
Butte Coalition Cumberland Ely Alex Scott Hancock
and Live Oak look attractive and will advance easily
in the event of higher copper market
THE METAL MARKET
Sales of copper made in considerable quantity
yesterday at 1914 per pound. Transactions 50
far have not been in any heavy yet buying
been much better than week ago. Cables from
abroad Indicate like condition affairs there
Der should prove good month far as the sale of
copper is concerned.
AS be ascertaned the September
figures Copper Producers association which are
to be made public week. will show "A further in
crease in the surplus stock s1OOOOCOO to 100000
pounds. This is due largely to the lighter demand
from abroad. The home consumption remains about
the same as the month before. BY the time the fig
lres are published the stock market will have dis
counted them to a large degree.
on all sides reports of the likelihood increased
nand for the red metal heard. AS an example ths
recent act of the Chicago council we'll The
city of Chicago ordained that all railroads must
electrify their lines within radius of eight miles of
The city hail. this to be done by 1912 To accom-
Dlish this plans be Immediately prepared by the
various lines and the copper which will be this
work will amount to enormous sum. 1t is quite
likely that there will be fight made against II by the
ailroads but it indicates trend affairs In New
York City several railroads have already prepared
olans for the electrncation lines In the far
vest similar is be followed
European copper statistics on Oct showed the Wis
BILE supply Of the metal TO be $50 tons an increase
or the month of 5,626 TONS The visible supply ia
Equal to only little than one months produce
ion of the worlds copper mines
GREENE cANANEA-
SO much question of late has arisen because OF the
Continued weakness of Greene Cananea that many
hareholders are becoming discouraged. AS a matter
fact the physical condition of the property is ex-