The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-11-12
NEW YORK. NOV. H.

NEW YUM. WV. W.
The sweeping democratic victory of proportions has
been followed by a decline in the stock market which
as TO character OF the offerings constitutes
this writing OF the puzzles of the street
II seems difficult 10 secure an expression opinion
here discussing covering the cause OF this Selling
or where It comes FROM Suffice II say the fact is
indsputable that a of stock has been put over
the market and in view of the complete absence OF
public buying following the election results the sales
have been made marked rocogsors and the rallies
while fair appear be dne 10 the traders recovering
to any evidence of any Outside buying
As we write the market closes stale and fat, with
New York Central the spot in spite Of estimates
IN well quarters that the company viii earn
its six per dividend This year with small margin
or course the election results in their immediate as
poet significance beyond the state of mind they
may produce in the present congress Legislation
TO attempted enactment in the brief session be-
ginning next month so that really have year
ahead ~ us to await any tangible results from the late
overturn However this may be. feel that sentiment
the proposition VIII develop bulishly We certainly
no bear ammunition at this time to be made
out Of Tuesday returns.
The railroad net results the September quarter
show only small decrease and compare well with
large of the time last year. that the
showing is bad. The foreign banking position con-
tinues improve while money here indicates no con-
don of strngoncy although fairly stiff. The steel
port while unfavoable. not expected to be bet
ter only brings is happier condition
Of affairs
The iron trade continues bad while the copper metal
recent producers report hardly verines
the late bullish talk this situation. wthal
stocks 10 90 per ccut owor than this time last
year and so long railroad earnings do not Indicate
dividend reductions there would hardly appear to be
much in sight which base a campaign
1t looks If the market will lapse for while into
trading affair. preference however is far and
away for the optimistic view
N J. Miller, of Miller & Co.
BOSTON, NOV. II.
The most favorable the metal situation
moment is the broader demand for spot metal and the
sales Of future copper extending well into the coming
year
Large producers say that for the first time in eight
months they able produce their metal, sell it
without question and without
ing of sales This is very important they get
their money without any roundabout delay.
For The future of the selling agencies has shown
any disposition to push sales into the first quarter of
1911.
They say the demand will come in time but in the
meantime they are selling little future copper the
old theory of sell keep which has in the
long proven the wise in the copper game
The producers statement did show the decrease
expected although figures whole satisfactory
They show that when domestic and foreign
hold up that the surplus is being into and that
it will be all will agree are proper
limits. The increase domestic demand is also very
encouraging and when business returns to normal the
domestic consumption will reach stil higher figures
J. H. Cody. of Miller & Co.
a
When the directors of Calumet & Arizona and SUI
perior d ptsburg meet i'm Calumet about Nov % IL
is quite likely that the plans merger of these
two companies will be fully discussed Deliberations
of an informal character have been held auth
oriNe action has been taken yet is any likely
until after the date above mentioned.
The directors who visited two properties recent
ly are home and such statements they have made
have dealt almost entirely with physical condition
of the properties Commenting the developments in
the Bsbee camp director of the companies stated
that in particular is Superior Pittsburg opening up
large bodies The Junction continues to be
winner. The Hoatson contributing its share to
make Superior & Pttsburg property of great value
The Briggs shaft has opened up some fair sized ore
bodies hut of lower grade than shafts mem
toned the running and four per cent
copper.
Calumet & Arizona developments quite satisfac-
tory With its quick in excess of $4,000 900 and
a smeltcr of quite modern equipment shareholders are
wondering why they should fare better than three
four to careful analysis of the situation how
ever, reveals the fact that Calumet & Arizona has a
territory of but one-eghth the Superior Pitts
burg and the advantage in favor OF latter company
as far as location of territory concerned After all Il
is the ore bodies which make mine and il Calumet
& Arizona can obtain interest in n company whose
ore bodies promising those owned by superior