The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-08-02
Paine, Weber & Co.'S Gossip

Producers report more stable con-
ditions i'm the copper market. Assur-
ances OF reduction in copper output
| have brought many consumers into the
market for large supplies who have
heretofore been conducting their pur-
chases on hand To mouth basis.
Sales last week and so far this week
are estimated at more than "a, 900, 600
pounds of which the United Metals
Selling company is credited with more
than 30,0O0.0OO pounds. No copper has
been sold below 12h cents.
Copper exports in July, as figured by
the New York Metal Exchang.
amounted 22.S75 tons.
The July output OF Wolverine was
$40 tons of mineral.
The policy OF curtailment was OBJ
served by the larger Butte copper pro-
ducing mines during July. Some OF
the Amalgamated mines are still being
worked only i've days a week, while
a number of the mines are working
days week. None of the Amalgamat-
ed or Anaconda or subsidiary mines
are being operated more than six days
a week. The independent companies.
including East Butte Butte and Balak.
and Tuolumne are working seven days.
In the North Butte property "A slightly
better grade OF ore is being mined and
the average value has slightly in
creased. The Butte Coalition company
is operating only the Tramway mines
and has been following closely the
curtailment policy The copper metal
output for the month of July amount
ed to 23,370,3S0 pounds of blister cop
per os follows: Figures represent tons
OF ore, pounds of copper to ton and
total pounds.
Par q Trent, 122.S6O; Ga; 100000.
Anaconda 9G,7SO; G5; G.29O, 500.
North Butte. 1890; G7; 2.543.32O.
Butte Coal. 1920; 70; 3,54S,12O.
East Butte. $500: "a; 541,200.
Tuolumne 5000; $50; $4,000.
Butte and Balak, 1900: $50: 756. 900.
Clark properties. 1880; 70; 1,257,1OO.
Totals, 33S,470: blank 23.37O,3S0.
The directors of the Cactus Copper
company issue a report covering oper-
ations from January 1st. 1910. to July
lst. Total receipts were S235,737. of
which $202,50O was from the sale OF
stock. Expenditures were $135,967,
OF which s7s.S55 was for mine con-
struction and development work, leav-
ing cash on hand, July LIST, OF $780,
$50.
San Antonio has called an assess
ment OF 81 per share, payable Sept.
18th.
L. Vogelsteln and company say re-
garding the copper situation. THE
outlook for metals has lately become
more encouraging. This is particular
~ true Of copper, where n common
sense policy seems likely to be substi-
tuted for the cut throat competition
heretofore prevailing. Though the ef-
feet OF the reduced production will not
be reflected I'm statistics for two or
three months TO come. we are in a po-
sition to confirm the report that pro-
ducers will curtail their output and
it looks to us as though purchases OF
copper metal at present prices ought
TO be more attractive than copper
shares. at least for those who have
missed the opportunity 60 buy at the
bottom either metal or shares because
the latter have already recovered 10
to Is per cent from the low point,
while standard warrants i'm London
have advanced only So shillings or less
than percent and electrolytic in New
York barely Is cent per pound per
cent.
The Wolverine directorate has been
re- elected.