The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-07-16

there any redeemng feature of the situation
this week t has been that stocks failed to de-
cline and have had their rally better than for many
weeks past although the strong tone has produced
only stasnation an improved speculative in
erest
The dispeasng factors have been the sorry showing
made in the Now York state only so cent
OF the Offering being taken and that of an average
price around 12 points lower than the March
sale.
A further decline in copper metal and the advance
in wheat prices and a bad H. b. Clahin Company six
months statement has been causing comment; while
the other hand the better inward currency move
mont improved foreign trade statement and rumors
important conferences the copper situation have
offset the bear elements The deplorabe condition of
the investment market is in Judgment n factor
which makes hesitate to assume position bullsh on
anything but prices and yields. 1t is getting to be
common place that stocks cheap; the large people
who have many them, urging this from house to
house, but they viii have to back their belief with
something substantial than talk to change the
apathy N. j. Miller of Miller Co.
Boston, July 15.-With the Boston market in the
worst dodrums for years, and the cop
per situation apparently adrift 1t very hard keep
to position which is unquestionably the
bull one While everyone in such discouraged
state of mind. sight completely of just how little
1t would make complete in the copper
situation. The total amount OF metal at stake in the
surplus is relatively small when figured down doll
lars and cents and 1t merely needs the turn of the
heads by the big copper interests and forsakng of
the dog policy that has been ruinously pur
sued for the past two years to change the situation
for the give a fifteen copper market.
If this is ii would be in for big down
ward swoop at copper prices but even If this
there would be little change hands under
~ cents for the good that of the big
interests would sell copper around that figure Such
market would merely a nominal of short du-
ration would the closing down some of the
smaller mines
Curailment has been started in directions and
better producers statement is promised for next
time H. Cody of Miller & Co.
THE STOCK AND METAL MARKETS
Were it for the very heavy short interest which
has developed in market undoubtedly would
have witnessed rather serious decline early this week.
Because of this condition existing drop consider
able proportions for the present at least is
likely, on the contrary a demonstration against this
heavy short interest is more to be expected.
The copper share market is in sold condition.
Forced selling has caused the declines in
which have been registered The vertical drop in Lake
below $50, Of course. the feature. This due
largely to Disappointing conditions in mine develop
men but it served the purpose of bringing about
siderable selling in issues in the Lake district.
The metal market occupies peculiar position
this time. There other industry of any consid-
cradle proportions which is permitted along
without proper guidance. AS consequence the cop
industry lacks stability without the industry
win always prove financial giants All
efforts to date to cooperate have unsuccessful,
Producers class extremely jealous. When they
get together perfecting organization the
present chaotic condition will stability and order
Undoubtedly the price of the better OF copper
shares is grounding the bottom For this we
believe that conservative purchases will
snow good profits during the six months We are
likely to experience period of duness time but
this will give way to activity consequent improve
ment In quotations We reierate our previous and oft
repeated statement, however, buy stocks only for
cash or only such amounts which safely carried
in the event that lower prices seen.
AHMEEk-
II has not been definitely decided whether the new
Ahmeek shafts known as No. and No. T. will be
sunk directly in the lode. they will follow in the
foot wall The shafts about feet, and
will probably reach the Kearsarge lode I'm the course
of the next month six weeks Diamond drilling
disclosed the vein almost so feet earlier than was
expected indicating that the vein has atter
than at the Ahmeeks present workings No. and
No. shafts were sunk at angle of eighty degrees
and urbc tho vain