The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-03-08
MILLER TAKES CHEERFUL
VIEW OF STOCK MARKET
Prominent Eastern Broker Visit
ing in Calumet Talks on
the Situation.
HIGHER PRICES ARE EXPECTED

n. j. Miller, head of the house of
Miller and Co, the well known New
York and Boston brokers, was in Call
umet yesterday visiting j. A. Minnear
and Co, local correspondents of his
house.
Asked for an expression with regard
TO the future of eastern markets, Mr..
Miller states that a great preponder-
ance of the known factors point to a
higher range of quotations.
There is little difficulty at present
in negotiating six months loan on
prime collateral at about per cent,
and most of our higher grade securi-
ties are on a. per cent. basis. The
optimistic deduction is the logical one.
During January, and the early part
of last month our markets, both at
Boston and New York, experienced
the most radical liquidation that l ever
remember seeing i'm so short a space
of time. The result is CT course, that
the speculative structure of the mar
ket is consequently materially
strengthened.
Your people, in this country, are
naturally more interested in copper
shares than i'm our railroad securities.
The metal situation is, as you know,
daily improving"
The Copper Shares.
owners of copper shares have much
To gain or lose from the impending de-
cision of the Supreme Court at Wash
ington in the so-called Tobacco cases
Aggressive industrial expansion which
in itself. would entail an enormously
increased demand for the metal, would
quickly follow a favorable decision.
What l am hoping for and believ-
ing is that even if the Tobacco COM
pany should lose out in the court of
last resort" that tribunal will, i'm it's
decision, point out a way i'm which
our larger corporations can, to an ex-
tent at least, preserve their organ-
cations intact and at the same time not
violate the statute i'm question"
AT the moment, discussion con-
tents Itself to large extent with the |
subject of the high cost of living; the
is subtle:. the influence all |
this particular feature is
deemed by MANY excellent judges the
dominant factor in the general stu
atom. -
"Extravagance undoubtedly plays its
part; the fact that the demand for
agricultural products has outrun the |
supply, plays its part in turn, but |
1t.
Of living is an economic one; it will |
not be solved by legislation or even
by personal economy. The abnormal |
price altitude has been caused accord
ing to our opinion by the steady in
crease i'm the worlds gold supply.
Big Gold Production.
1.-THE world is at present producing |
In the neighborhood of $500 OOO, 900 gold |
per annum; this is about double the |
production Of the calendar year 1900. |
just a decade since.
at may be argued. and probably is. |
that this should as easily affect prices |
In Europe. but here i'm America the |
is accentuated by virtue of |
the fact that we are financing on the |
basis of $500, 100000 of fiat money.
"As to the virtue of this course. men
may differ; ultimately economic doc
trine must obtain; after all political |
economy is the science or study of |
men getting living.
1T remains to be said that techni-
cally the market shows very decid-
ed Improvement in position. We think
stocks are in stronger hands than
they have been at any time since the
very early part of last summer
Mr.. Miller left yesterday afternoon
FOR Houghton, and today will depart
for the iron county where he will
spend a short time before returning
10 the east.