The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-01-08

The stock market was greatly perturbed this wees
because of President Tafts Congress Con-
hicting reports on this message In circulation
during the early part the week. and caused sharp
declines throughout the list. Flurres were common
quite frequent the rumors themselves When
the finally made its after the close
Yesterday afternoon it apparently had been well dis
counted. oaa
| Various versions have been heard on the message
It is act a communication filled with rampant state
ments II POSSESS it's advantages as well as disad-
vanagcs rharketwise While a number of corporations
would have liked i suggestion making tns Sher-
man anti trust law more ell stt the that
will probably be unchanged ~ Congress is >"d
as bullish There is question but that If tha
Sherman anti law was tempered with in the
least it would emerge drastic than it Is now.
We look for the market to be Influenced largely by
such action Congress takes from time to time IN
the present session. 1t will excellent opportun
tiles traders standpolnts The general trend
promises to be higher The public interest developed
in the market will continue.
factor which mentioned n month ago would
contribute largely market action has been money
question. Rates have shown a tendency to advance
and call money this morning crossed ten per cent
The Withdrawals for January interest and dividends
its way the regular channels of trade rates
will off somewhat. For the present adhere
conservative stand on the market. We would be
careful not to overbuy, and such purchases as are
made should be well marglned. Copper stocks will do
THE METAL MARKET
Sales of Lake copper reported this week at
14% cents per pound Eecrolytic copper sold for IA
cents. The heavy buying of the red metal continues
to be largely for foreign Foreigners seem un
able to get enough copper. These buyers the
in the past have shown themselves judges
of the action of the market and reason their
present attitude, is all the more significant.
The curtalment of production from the Butte camp
is having material effect the metal Butte
last month produced about 100000 pounds less than
The average for the previous 1909 This cur
a"eht Is likely to continue for portion of January
1t least Reducing the production by this amount ana
With consumption keeping up to normal figure 1t Is
eadily seen that the statistics of the metal situation
or December when presented by the Copper Producers
association will show a considerable decline in the
urplus stock of copper in this country. Estimates
# the decrease range from 100000 to 10000 900
ounds The smaller figure should at least be reached
The year 1909 was record breaking one as far as
he production of copper in this country was concern
d. Every camp showed a record breaking total Ar-
ona retained the lead of the states producing the red
letal with Montana close second Michigan trailed
bird with a production of approximately 1885, 600 900
ounds. Despite this increased output consumption
eeps apace of production The current year will nm
oubtedly be another breaker both for consumo
ion and output of copper
The metal market is in a healthy condition Under
ontnued favorable circumstances fifteen cents for
Upper before the close of month is not at all
Improbable. The slogan for 1910 will be sixteen cent
Upper