The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-06-04
CURRENT GOSSIP OF THE CoPPERs
j. A. Minnear q Co.

New York. June s.-The Washington situation. phase
much mentioned by these past several months.
wide advertisement this through
action of the Attorney General in secretly and at the
last moment teing contemplated advance in freight
and connecting the action of the railroads with
alleged criminal offense
The grave Importance construction put bust
by the government created sentiment pessi-
mstic. Relief Wall street has only by liquida-
lion of securities and with many of the mind
alzaton enormous and the sacrifice of prices
serious.
Relief may come. course. by construction of the
law different to that had by the government
the unfavorable sentiment developed, and which is
spreading wide outside of Wall street, however
hurriediy the may discount it the moment and
leaving the market exposed With riffs in the clouds
at present 1t would seem at least wise keep
N. ]. Miller, of Miller & Co.
Boston, June S.-The metal situation which begin
ming to look up considerably Is unquestionably being
somewhat affected by the general pessmistc tone of
throughout the country toward trade cond
tions general early days the week. improve
the technical position the metal abroad
much more hopeful tone than had been for
big copper business were also feel
I
shown that it equang production. They have
and do still predict that there will be advance in
consumption during coming year which would
present level of prices.
spite hopeful talk it folly expect that
the copper will individually 1t will in the long
run follow the of general commodities and it is
easy which way the tide pointed this
Production in Butte and the other camps up
normal Under these conditions further increase
surplus is to looked ]. II Cody, of Miller Co
THE STOCK MARKET
Because Washington persists in adopting tactics OF
dsueting nature the large interests which always
rally to the aid of erratc market determined
let matters take their The consequence
evident in the melting away quotations high grade
securities Declines from ten to fifteen points
close week ago yesterday all unusual
Union Pacific ago closed $685. while yesterday
it sold down $685.
Naturally with this condition of affairs existing in the
New York market the copper share list had give way
Trading in this class of securities the whole a
very satisfactory nature Prices well sustained
until yesterday when the onslaught made itself quite
parent 1t may be something of consolation to know
though that the Offering of real stocks has very
light. Short commitments have been much larger
for some time past.
Public buying has been far from aggressive. on the
contrary the public seems 70 sitting in n
demorazed state apparently unable comprehend
what is going on in the markets A readjustment of
values is in process when this will place
will probably experience period of dulness followed
by gradual higher prices
The buying during the few days has almost
entirely from thise who expect slight rally
drastic decline, if this bought
will find their way to the market
We little encouragement in the situation at
is 10 to becom
aged Once the Washington situation
Improvement will surely be noted. Until that time
would act very conservatively for tenpoin margin in
days this week. would be but a drop in
tho bucket.
NlPissINe-.
In the face the general market
ing the past ten days. Npissng has shown tendency
to advance The buying this good, and
we are told that there is possibility the directors
Gliding a per dividend when action on
this subject is taken Npissng is showing substantial
earnings considerably above present require
ments. The price of silver has advanced slightly, which
has also been important item
CALUMET & HEcLA-
Directors of Calumet Hecla yesterday and de-
cared quarterly dividend of 81 per share payable
81 The stock sold ex-divdend yesterday months
ago the company paid quarterly dividend IS per
share The of 81 at all unexpected as
it generally that company was not earn
ing more than 81 at the present time given
understand that the company is not smelling all
mineral reserving about output until
metal prices become rmer. Earnings based now en-
trely upon the that is marketed. pos
sbility of reduction in the Osceola dividend Calumet
Il Hecla earnings further decreased company
has also its interest charges meet obligations
ing for the stocks purchased Bigelow interests
at the time of the the troubles between