Bisbee daily review., 1910-12-18
lIron Orel


 After advising the psblic to get in. insisting that the market was surely going much higher. the brokers Of the east who are dealing in copper shares as a leader, are now taking the pessimistic side. declaring there i.s nothing but clouds and shadows ahead of the copper industry. No thing has been left unsaid in the way Of dire predictions that might have a depression effect upon the prices of shares. only a few days prior to this there was. according to their presentation nothing to prevent the rise of red metal issues. Coppers were on the bottom and nothing could prevent them biplanins to great attitudes. There was slight better ment and the public began to nibele q little, assisting someone in the uh- loading of burdens carried for many weary months. When the brokers had shifted their holdings business was very quiet for a few days and then all al once was started rumor that James Hill had prophesied hard tines. It was the opportunity for sending out scare dispatches and they were scattered broadcast. The concerns that saw only great rising copper share market announced that they viewed no cheer in it; that prices were certain to go lower; that copper metal was increasing: that curtailment was only joke; that money was tight; that the railroads had ceased buying; that the outlook was the most doleful imaginable and that the thing to do was to let the other fellow have the shares and the responsibilities
 That was the plan adopted for the securing of the lines that had been let out a few weeks ago When the latter is well in hand, 1t will b~-fhe proper thing to see a rss or sunsn1ne again and to prsSfct another Dis bull movement
 R.Nrers of weakly margined ac- counts were pried loose from their stock and money. Of course they never saw the stock. but they lost just the same. The danger os doing business on margins without p'enty of reserve capital to put into any break engineered by the schemen n the share-dealing business Is not unknown to the American people. It has been described sufficiently often. bu. many who get bitten in one campaign will brayely take hold of just the same sort of crocodile in the next one that happens along.
 The fact is that there has been a great decrease in the output of copper within the past four months All the principal operators of mines have applied the pruning knife and the monthly reports Of metal made prove that there have been liberal deduc- tions. It requires a few months for this to show in the refined product. some time being necessary for the transforming of the blister copper at the smelters to the refined article completed at some point mayne thousand of miles distant
 
 understanding between the miners of copper than heretofore. We look fo this to further strengthen until there is brought about a merger for the saving of the capital investigated in the legitimate mines ot the red met al. When this is accomplished great good will have been brought into the business and the money now at stake will have a chance 60 make fair in- terest. which now. in tEe great major ity of instances. is not possible. Mines are being depleted of their best grade ores to meet the quoted price for the finished ingot, just as fhe miners of iron ore used to draw from their reserves of bessemer ores to satisfy the greed of furnacemen. The fault then lay with the miners who were foolish enough to compete with one another until there was no