The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-01-15
CURRENT GOSSIP OF THE CopPERs
THE STOCK MARKET
j. A. Minnear e. Co.

L
stocks some of the issues were brought to llfo
with bound which put practically valueIess stocks
In the pubics hands high prices. This condition
OF affairs in the past has always preluded the Storm
a time when stocks broke badly and ended in a deal
calm when stocks could hardly be given away.
This condition, we fear. exists, and before the
storm breaks forth strongly advocate the
to the path Of conservatism, where bought
on their merits, not because of some idle rumor
or the hope to another point issue which
has already had OF 100 per cent or moro.
The buying of stocks is dangerous. Drill hole
mining is the Something practical as far
as positive results should be looked for when buying
stocks While the prospects may be good, prospects
almost always end in a loss of profits
The stock market whole is honeycombcd with
manipulation In copper circles North Butte has Gre
ated feeling of disrust. The general copper market
and the New York list during the past few days have
been weak A gradual lessening of commitments has
been noted Stocks have been distributed with a lavish
hand The result of the sessions of Congress are a
AS long as this condition continues to exist we can
look for general upward movement. We may hnl
exceptions such experienced this week, but every
sign points TO storm about to break
The money market is also mooted problem
Money is not easy get. Rates are higher in the
east than they were month ago. While this has not
yet reflected itself in local conditions we look for IL
to manifest itself ere long. on the whole can see
nothing this market lower prices at this time
The only thing which change it is for public Is
abandon its present reckessness, and when this is
done the market will pursue even tenor Of its way
and gradually prices will seek a higher level. If net
we advise caution. Go slow 1t will save the
investing public some money.
NORTH BUTTE
North Butte continues be regarded with consid-
cradle degree of suspicion. The public interest in the
issue far buying the stock is concerned is prac-
ticay nil There is little likelihood increased inter-
until the public gets authoritative informa-
ton to account for the drastic decline in the
stock Our letter of week ago best explained the
situation, informed by to an officer
of the company
From the same source learn that North Butte
today is in as strong position physical conditions
of the mine considered as it has been at anv time in
its career 1t is an undenable fact that every minc
in the Butte has passed through zone where the
ore ran very lean. This was followed by opening the
zone of greater enrichment after sinking to greater
depth.
1t has been announced that North Butte MANS 70
at once begin a crosscut the Diamond shaft Of
the Anaconda at depth of $500 feet to intercept both
the Edith May and Jessie veins depth several hun
dred feet lower than present workings This additional
depth will demonstrate whether or not North Butte
VIII open the zone of secondary enrichment The
chances are favorable for finding ore continues
at this greater depth.
The curtalment of production the Butte can,p
continues January will probably see decrease in
the output off North Butte almost forty per cent
While its production will be it should be re-
membered that it still has the ore in the mine an
asset which with the higher price received for it's con-
per compensates it for its decreased output At is
too early to forecast the dividend that likely TO be
paid for the current quarter but it be at all
unlikely that cut would be made to fifty per
share IL the present plans of curtailment con-
tnued