White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1910-07-24
WEEK BROUGHT
LITTLE CHANGE
THE FEELING CONTINUES TO
GROW. HOWEVER, THAT THE
NEXT MOVE IN COPPERs WILL
BE UPWARD.
n. W. HULSR 4 co. LETTER

The past week in the market fol
copper stocks has been one continual
round of ups and downs, first one
piece of news causing a general rise
and the next would precipitate a fall
all along the line. A summing up oil
the results for the entire week how
ever shows the advantage to be on
the side of the bulls and stocks are
far between that do not show an ad-
vance over the closing quotations OF
last Saturday. Along about the mid
die of the week a peculiar situation
developed when the trading In copper
shares received almost the undivid-
ed attention of eastern investors and
Industrial and railroad stocks were
left to themselves more than at any
time this year. A rise of goodly pro-
portions was the natural result but II
proved to be short lived as the follow
ing day saw the reduction of the
dividend of one of the largest COM
panies with stock listed on the big
exchange and the break In this stock.
National Lead, had the effect of caus-
ing all others of the large ones to do
likewise. AS Is always the case,
Wutu the DIX SlOehB DTtdh, the sHudll-
er ones follow but the loss then. with
the subsequent declines on following
days, was not enough to put them
back to the prices at which they
opened on Monday. American Smelt-
ing felt the influence of the break in
National Lead more than any of the
other stocks but u. s. Shelters, both
common and preferred. also received
their share of attention in this line.
The local stocks performed well
throughout the week, but Of course
when the big slumps took place they
were dragged along with the rest.
Nevada Con. shows a gain of 25
cents, and the balance, with the ex-
. ception of Ely Central, remain un-
changed, this stock having registered
a further decline of Il " cents as the
result of the weeks operations. Ely
Con, despite the pending assessment,
held its W and trades were made as
high as 23 and "a cents on this stock.
Numerous rumors are s~pringing
up from all sides relative to the much
discussed question of curtailment of
copper production but none are given
much credence in financial quarters.
Certainly nothing has taken place yet
that would indicate that n such
agreement had been entered into by
the producers. Reports from Butte
during the week brought the infor-
nation that although the officials of
the Amalgamated-Standar Oil crowd
had declared that no curtailment was
being made at that place the mines
were only working five days a week.
The reason for this as given out by
the company was that the mines were
so far ahead of the smelters hat this
was deemed necessary in order that
they might catch up but IL Is more
than passing strange that they have
not discovered this fact heretofore.
This action is taken by many as the
best indication possible that the Gug-
genheims have the upper hand in the
copper production controversy and
further curtailment by the Amalga-
mated people would not be surprising
now that they have shown their
weakness. Nothing that has taken
place up until now has given near as
much promise of the clearing of the
situation as this has. The feeling
continues to grow that the mex move
IN coppers VIII be upward and a
great many well posted people are
buying on all weak spots. There are
very few stocks offered for sale and
the buying still continues good.
A summary of the week on the
Salt Lake exchange shows but few
changes. Trading has been lighter
during the regular board calls but the
curb has seen some lively days. Opex.
n of the new Tintics, with a chance
TO catch the great ore body of the
Observation-Disclosures. has been the
headliner In this division and trad
ing in listed stocks on the curb and
open board after the regular call was
owe has also been large. Columbus
continued Its advance during the fore
part of the wee and sold in the sew
entities but a reaction set In and. be-
ing badly hammered on Friday and
Saturday, Ii receded to SO a 81 on the