Bisbee daily review., 1910-01-23
COURTS HALT PLANS 0F THE
 BIC COMBINE
Tobacco and Standard Oil Cases Must Be Disposed of Before Ii Will Be Safe to Proceed.

BOSTON, Jan. 22.-Three things arc. holding back the proposed Ama.- samated copper combination-not the
 copper combination in the southwest or In Montana-but the larger ana.
 gsmation of the producers ot sos. zoe
 900 pounds. or onehalf the Unitel
 States production.
 These are, first, the American To
 tacco case, which, as the court ruI-
 ing stands today. declares that under
 the Sherman antitrust law. 1t is not
 necessary 10 prove that a combina-
 tion Is in restraint of trade. but only
 to show that combination has been
 made which may restrain trade. and that. while an individual owning
 business. plant or factory may puf- chase another for cash. corpora- tion cannot purchase another corpor- alton by the issue of securities or other form of combination by whieh the combination shall come into po- sition where it may possibly rextratn
 trade What the sherman anti-trus.
 law needs is a more sensible legeI interpretation, but. as it stands. the major opinion of the court is that the issue Of securities to make a combil-
 ation whichc might restrain trade is illegal
 Hence. until the Tobacco. and pos sibly the Standard oil. case. is decid-
 ed by the highest court in the land.
 the proposed copper amalgamation
 cannot safely go forward. in a large
 way
 In the second place. the money markets are not at the present time propitious' for the investment of bang ing capital in a large copper amalea- maticn. Some aggregation of capital has got to stand up and begin the pre- posed copper combination in the mar kets of the world with a good deal more than $1O0, .000 It is not mere bankers proposal for exchange of securities. A large part of it must be on a cash basis. and it must b. bullied or bought through and then the burden shifted upon the investing public
 Not only must the legal situation and the monetary situation be clearer than at present. but the copper metal market must be evil in hand upon both sides of the Atlantic, with sur plus production repressed, or other wise taken care of. In this connection 1t has just been discovered by the re makers of copper investments and copper metal prices that not OnlE hree continents. but four, must be -eckoned with.
 With cooperation between the Mor- gan interests, the Rothschilds, the and Amalgamated. North and South America and Europe xill be pretty well in hand. except Or the Lake Superior district.
 As the Calumet and Hecla has, by .arefuny laid plans, become domi- lant here by the investment of $2o,- 100, ,0000 of cash in other companies. t may be good judgment to let this district alone and count upon its s'Ire md steady development.
 In a few years. from the present outlook. Lake Superior will pass ev- .ry other copper district in the world, not only in its gross output. but in he quality of it's copper. its low cost per pound, and it's permanency of 6's- 
 The investment outlook in Lake Superior can be seen farther ahead han in any other copper camp in he world. except perhaps the oli Spanish mines.
 What the copper people have just discovered, however. is that Africa E 0 be one of the great copper-produc- ITS of the future. The heart o- larkest Africa. around the Lake Ten ,anyika. where Stanley found Ltv- ngston. is within year to begin ,ielding over to the civilized world ts copper treasures. Next October it s figured the railroad from PorSE- yuese territory will be in touch witn the copper deposits of Tanganyiila. and soon thereafter 60.0oo. 900 pounds ,t copper per annum should be going .o the seacoast. It's development will be watched with interest beginning rex October