The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-07-09
CuEE6REESNTPP OF THE Cos Ger s 4:!2:s
~ GOO01T ..''...''''''''' & COMPANY
NEW YORK, JULY 8.


NEW YORK, JULY 8.
We have had very low prices this week, VII
Messing a continuation of the outpour lately mucl
IN evidence Reasons therefore not apparent add
ing to the difficulties the situation and causing nue.
commission house liquidation the creation OF enough
short selling to help along rally this accompanies
by somo tmid buying for the long account.
Copper statistics figures have helped the stocks
production being the largest ON record while the do
mcstc ard foreign deliveries were insufficient to pre-
vent an Increase of over 100000 pounds stocks
hand which here and in Europe must amount to fully
lOOOOOOOO pounds, say rather more than a three
months supply OF American production
| Money is tighter here and o>in the west. I'm
oort gold artificial in character and not due
conditions. Spring wheat damage may be offse
by 25OOOO,OOO bushel increase, while the pay
ment regular dividends Atchison and St Paul arc
the immediate cheering factors But the market acts
as if it had a story yet to tell and when know it
stocks will be purchase.-N. J. Miller of Miller Co
BOSTON, MASS, JULY g.
The Copper Producers report for the month tho
main topc conversation this week. 1t showed an in
crease in surplus of 100000 pounds but the world.
supply only decreased 100000 pounds while domestic
eonsumtion decreased about 100000 pounds
If domestic consumption had been normal the hg-
ures would had shown much better AS it is, they are
much better than any one had any license to expect
md show that the copper tide turned. OF course
production of monthly figures give the consumers a
big advantage the producer and they have
slow to- the Thus producers have been the
under dog and this helps the pessmistc side
When the situation finally turns these producers fig
ures will cut against the just much they
now in favor of him.
There has been a lot OF talk concerning the confer
ences that being held in France
Of the two contending in copperdom is
the power of these two fix the situation over
night and they may do on the other side many
contend that the situation needs fixing and that 1t
IS righting itself The present producing figures sup
port this contention They are the most cheering item
we have had for some time.
The present market remains dull, but the European
demand is immense. July figures will show the effects
IF curtaiment and should reflect still better turn of
he tides--J II. Cody of Miller & Co.
THE STOCK AND METAL MARKETS
There is some influence underlying the general stock
market which is causing much nervousness among the
element Traders realize that there is
something wrong somewhere but they do not know
where to look for the trouble This has contrib
tied largely to the recent weakness and the very
eebe rallies which followed the sharp breaks.
1t is idle to endeavor guess wherein lies the dan
ger, but it to be lurking The country at large
wants to become bush and wants to see stocks sell
higher but those in position to buy into the market
re afraid OF the unseen and unknown. If there IA
omc bad out, the sooner it is made public
he better will it be for the financial condition OF
his country
Stocks, yesterday, wanted TO go up yet the profess
iona element which usually the initiative hesi-
aed The little support given the market by banking
interests withdrawn around the noon hour and as
romptly as this done stocks sagged off The an
ouncemcnt of the regular dividend on ST. Paul was
omewhat assuring, inasmuch as the street was
ilkng of possible reduction.
Yesterdays announcement by the Copper Producers
ssocaton of an Increase of 100000 pounds the sur
lus stock of the in this country was regard
as a favorable report was believed that the
port would show increase all the way from SIS
'0oOO TO 100000 pounds July productions will be
wer than in June, if sales equal the June figures
he month should close with slight decrease in tho
lrplus stock.
we continue to believe that stocks are a good pur-
lase on all drives We caution investors against buv
g into the market to extent which might later ON
'rrass them If purchases made they should bo
cash account only Stocks so bought and bo,d t
" more 'hah SIX months should show substantial prof
in that time.
JPERIoR & GLOBE
diamond drilling operations about started at the
'peror Globe property. week ago the outfit was
iiVered at the mine and while the home offices bas
ceVed no positive news it is believed that work has
on started. Much is expected by the managor,.,,
'm TINS class of work and 1t Is believed that an oro
ny OF considerable proportions will be opened nm Il,
Hing "
JMA--
DIRECTORS OF the Yuma Copper company this week
: anu ucciued To call on shareholders for twenty-five
10 p'i snare on all of the stock Outstanding This
e"o'' VIII DC payable August 8. Developments at
YUMA propertY have been OF a ,or.--