Bisbee daily review., 1910-01-23
COURTS HALT . PLANS IF THE
 BIC COMBINE
tobacco and Standard Oil Cases Must Be Disposed of Before it Will Be Safe to Proceed.

BOSTON, Jan. 22.--Three things
 are holding back the proposed Ama:-
 samated copper combination-not the copper combination in the southwest or in Montana-but the larger anna, gsmation of the producers of so9. .soo- 900 pounds. or one-half the UniteI States production.
 These are. first. the American To tacco case. which, as the court rul ing stands today. declares that under
 the sherman antitrust law, it is not
 necessary to prove that a coubina-
 tion is in restraint of trade, but only
 to show that combination has been
 made which may restrain trade, and
 that while an individual owning
 business, plant or factory may pur-
 chase another for cash, a corpora tion cannot purchase another corpor- aticn by the issue of securities or other form of combination by which the combination shall come into po- sition where it may possibly restrasn trade. What the sherman anti-trus. law needs is more sensible legal interpretation, but as it stands. the major opinion Of the court is that the. issue Of securities to make a combil-
 ation whichc might restrain trade is illegal
 Hence. until the Tobacco. and pos sibly the Standard Oil, case. is decid-
 ed by the highest court in the land
 the proposed copper amalgamation cannot safely go forward. in large way
 In the second place. the money markets are not at the present time propitious' for the investment Of bang ing capital in a large copper amalg.i- maticn. Some aggregation of capital has got to stand up and begin the pro posed copper combination in the mar kets of the world with a good deal more than 0,000, 900. It is not a mere bankers proposal for exchange of securities. large part of it must be on a cash basis. and it must b. bullied or bought through and then the burden shifted upon the investing public.
 Not only must the legal situation and the monetary situation be clearer than at present. but the copper metal market must be evil in hand upon both sides of the Atlantic. with sur plus production repressed. or other wise taken care of In this connection it has just been discovered by the re makers of copper investments and copper metal prices that not Onl5 three continents. but four, must be reckoned with.
 With cooperation between the Mor- gan interests. the Rothschilds, the Guggenheims and Amalgamated. North and South America and Europe will be pretty well in hand. except for the Lake Superior district.
 As the Calumet and Hecla las, by carefully laid plans, become domi- nant here by the investment of seo.- O00, ,0O00 of cash in other companies. it may be good judgment to let this district alone and count upon its sure and steady development.
 In a few years, from the present outlook. Lake Superior will pass er- ery other copper district in the world, not only in it's gross output. but m the quality of it's copper. Its low cost per pound. and it's permanency of S's- 
 The investment outlook in Lake Superior can be seen farther ahead than in any other copper camp in he world. except perhaps the old Spanish mines.
 What the copper people have just discovered. however. is that Africa Is to be one of the great copper-produc- FITS of the future. The heart O, darkest Africa, around the Lake Tan zanyika. where Stanley found Liv- ingston. is within a year to begin yielding over to the civilized world its cooper treasures. Next October 1t Is figured the railroad from PorSr:- guese territory will be in touch witn the copper deposits of Tanganyiils. and soon thereafter 6o.0oo. 900 pounds of copper per annum should be going to the seacoast. It's development will be watched with interest beginning