The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-01-22
THE STOCK MARKET

until late in the week when the New YORK hst aWohe
from its letharsy and showed some advances
In the copper the drill-hole propositions
we're the active features in a number of instances
scoring considerable advances. We lave been advising
cur friends to show great conservatism in buying
stocks at the present time, and particularly those
issues which are highly prospective at the present
time We to adhere to this policy being con-
vinced when break does occur these issues
which have been in the late trading will
suffer most because of their wide distribution
The stock market is very unsettled, some unfavor-
able news is momentarly expected from Washington
There are many pools operating This can result
in good in the long Sooner or later they VIII
overreach themselves, and some unpleasant develop
ments will arise bubble win burst and when 1t
does be many left high and dry with value
less stocks high prices. Lake Superior copper in
vestors have witnessed just such incidents this be-
FORE takes great imagination to compare the ola
Trimountan and Arcadan fascos with present condi-
tons. Better be conservative, miss the chance 81
some profits than to find oneself this class
of securities
| While we do not wish to be considered calamt,
howlers yet in the frenzy OF enthusiasm better judge
ment is cast aside and public in the end must bear
the brunt of the storm. We look for quite some ac'
tivity in the market for the next few weeks but
would be content with short profits
THE METAL MARKET
The copper market is in a better condition than many
really believe. There have been great many stu
dents of the situation who confident that the
fourteen cent metal market was in measure hcti-
tious. This is true to degree Copper should not DC
and is selling freely at fourteen cents per pound
Elecrolytc copper is being traded in at approximately
1917 cents per pound Lake brand commands prem
ium of about quarter of a cent
During 1909 the average price for the red metal was
thirteen cents for eecroytic copper We have been IN
formed by one position to obtain positive nforma
ton on the subject that this price ruled for 1902 ana
can be taken "A basis for estimates. Likewise from
the same source do we learn that the metal is
selling for 1915 per pound. There is fairly good
demand for copper at figures but the supply is
sufficient keep price steady for the present Tie
prospects for the year .ach to indicate
no material advance, and it is hardly likely that the
average price during 1910 will exceed
fourteen cents, If it reaches that figure
There has been a tremendous increase in the copper
production of this country during the past few years
and particularly in 1907 corresponding increase IN
consumption was likewise noted and promises to con-
tinue indefinitely. To further strengthen the position
of the market the curtament in the Butte camp
lis an important factor Butte continues to cut down
production almost forty cent To a lesser degree
other western camps following, and with this con-
Iditlon continuing for few months longer substan-
ta decrease surplus stock of copper should be
shown.
i January production figures will probably equal thos"
of the previous. decrease in the surplus STOCK
of copper of 100000 can be looked for when
the Copper Producers make known their figures on
February 10.
THE LAKE GROUP
| apain he
the stock market during the week just closed The
b,vin has been largely for account the Lake
superior holders gradually dsposing of their holdings
People who missed Lake have buying Indiana am
North Lake with hope that these properties Will
duplicate the record their neighbour.
There is only one Calumet and mine developed
north of Portage Lake, but Lake with such
jpicous showing as indicated. Will all presidents
be shattered trinity of extraordinary rich
pcrties opened in ontonagon county? This is a
question which will be impossible to answer positively
for another three years. True, the buying Indiana,
in particular has by Englanders people who
will take up their certificates and be to wait
for three or four years whether another
period of waiting will bring dividends.
Reviewing these drill hole propositions from an un-
biased standpoint difficult to determine just what
the foundation for the unprecedented buying of these
stocks Indiana, for instance will continue its diamond
drilling campaign for at least another six months. 1t
T will probably plan sinking shaft next
The first obstacle which will then be encountered
will inc to through the very heavy overburden.
Every time such condition has heretofore en-
cnuntercd in this district 1t only with extreme
difficulty and with the expenditure of very large
or money that bedrock finally reached. Granted
that this will be done, another year will have elapsed
bcfora n shaft will as much feet o.. this
property. 1t las taken Lake just about fouc years
aci;,e development work be brought its present
state of development Is only reasonable expect