The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-08-12
MINES AND MINING, STOCKS

I quently new high prices were quoted
North Butte sold at 297s. Copper
Range 6SIs, Cal 4 Ariz 59%, Hancock
23R, Lake 80. Amalgamated 66%, Sup
Copper A and Utah Copper AN.
Considerable selling OF American
SHELTERS during the day, but held firm
around 65.
a good sized short interest still ex-
lists in Union Pacific
After the break of yesterday the
market showed great strength, re-
| necting strong undertone.
The curb market while inclined as
yet to be quiet was strong in spots
and the interest increasing daily.
South Lake sold at 7M, holding firm
at the close. Heavy trading in Ago
mah sales being made ut lis, clos
ing strong at II bid. Ahmoek $50
bid, trading light. Cherokee sold at
3. the first trading in this stock for
some time. Cherokee is preparing
10 start No. drill hole. Very little
Fremont offered below 4. Cactus closed
at lie bid chief 1%.
An advance is more possible than n
further decline.
Indianas new copper bearing lode
has proven To be over fifteen feet wide
ana is a true amygdaloidal sandstone.
The first eight feet carried the copper
IN finely disseminated particles, but
very rich. while the last seven feet
carries shot copper i'm the amyglules
of the sand stone. The copper shades
pn into the trap rock both above and
below the main bed.-Gay & Sturgis.
Boston. Aug. IA director of the
CRANKY company says: II think | can
say that the CRANKY situation is not
So bad as even some of the directors
thought it was six months ago. New
ore is being discovered which will add
materially To the reserves beyond the
%. 600. coo tons reported last spring and
with production being we'll maintained.
To say nothing Of the income from
the Crows Nest Pass Coal company's
invest. present prices for CRANKY stock
can hardly be considered extravagant.
News Bureau.
New York. Aug. 12.-Sentiment with
professional traders is again chang
ing. Renewed bear arguments are
again being used. why this or that
stock should decline. Yesterday the
energy Of the trader was directed
against smclter and 1t was discovered
that a curtailment i'm the production
Of copper would ultimately cause n
reduction in the dividend. Nothing
was heard of the fact that lead. as
well as copper is as important to their
welfare. or that an increase in the
price of copper might Offset in some
degree a reduction in the output.
Railroad earnings published yes
terday showing the savings net, in
several instances, were somewhat of
surprise to the bears and this was
accomplished largely by restricted
improvements. As one of our CORE
spondents puts it. "The legislation
against the giving of rebates is just
| beginning TO be felt and should work
| for improvement all along the line"
Bond houses are reporting a slightly
better tone to the market, although
the demand as yet shows but little
Improvement. We continue to advise
caution in selling stocks except on
substantial rallies and believe there
are two people waiting to buy stocks
to everyone waiting to liquidate. Cali
money continues a drug on the mar
ket and yesterday banks seemed more
Inclined IN mt ont civ months money
at slight concessions.
at slight concessions.-J. II. Vain
wright.