The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-09-11

NEW YORK, SEPT. 8

NEW YOHN, SEPl. D
The market this week has been drifting along in
somewhat stupid manner. and until atterIy with eNi
dence OF a desire to rally. and while improvement
in prices close of the furthe
selling developed I'm Union Pacific which,
signal for elsewhere. and write TN
ist looks very stale fiat
of news the late pressure there is mons
respect the market is without explanation
much as it has previous heavy decline
Probably the larger feature OF interest has been to-
days government crop report. which does not show
very pleasing figures while there is som
improvement in the corn crop there is none
spring wheat which together with winter wheat IN
dicates yield of only about s5S.OooOOO, while tina
extremely crop. hay reduced than A.,
100000 against 6O,OOO.OOO last year.
In trade, there seems to be note of Improvement II
directions evidenced further by substantial
the August bank clearings The labor dis
fues out West however have a hating influence al
though we for obvious reasons the likelihood o
strikes in that direction.
We are not however pessimistc security values
believe the selling largely for the already
account would prefer 70 NEE
this decline with purchases rather than following tho
present very fashionable side of marKetN. j. MIc
NJ Miller Co
BOSTON, MASS, SEPT 8.
The announcement of the Copper Producers figures
yesterday furnished pleasant surprise in the curta
of approximately four and quarter million pounds
whereas a negative result would been considered
very satisfactory
Production of most of the mines owing to very full
month from the working day standpoint and to better re-
covery from treated well as from the increasing
volume from the porphyres contributed to make
higher output all along the line
this was easily taken of due to the
resumption foreign demand in the latter part of the
month. whereas been slack in the nrst half and
that the small American consumers In
tho market for unusually large supply of red metal
throughout the month. The big laid back or
their oars during the entire period which rather
Iossimstic outlook in the half of the month
present affairs however, leads to the
stated persevered in that the
copper situation has turned the and seems
that production length being slowly and steadily
,vercome by consumption extent that will take
Of al and promised production for the cur
year If the enlargement OF consumption to pro-
auction continues during next year should see still
promising state of affairs That the copper situa
ton has steadily lettering with general trade In
its present condition, with the foreign situation
ing unrest throughout Europe is certainly good tes-
tmonia could be desired. The steady drain upon
country and the steady using OF copper as
produced produce only effect no mat
1t may continue.-J. H. Cody OF Miller & Co
SUPERIOR AND BOSTON ARIZONA COMMERCIAL
only those who have had the opportunity of visiting
camp inspecting the properties of the Su-
Ieror & and Arizona Commercial companies can
the great advantage which will accrue as result
OF the proposed consolidation of these two companies.
The announcement of the whereby Superior &
absorb Arizona Commercial made this
every angle, it is emnently ia
yorabe basis Superior Boston will increase its capt.
ta,izaton to 100000 shares which 5000 shares
win be outstanding. special meeting Of Superior &
called for September Both for the
September and will reopen october I'd.
According the terms whereby the properties are
to consolidated Superior & Boston will Issue 100000
shares to be exchanged for $1OOOOOO bonds now out
standing Arizona Commercial basis OF 100 shares
Of Superior & Boston $500 bond providing 1870
CT the bondhoders accept offer.
issue of 100000, six per cent bonds convertible
IS will also be made in denominations of $780, $500 and
$1,000 10 November l. 1911 payable in ten
years converted into stock between
November I, November /, 1916 at So share
and are 20 be redeomable at 10. provide this
redemption, 10000 shares of Superior Boston stock
will be aside Subscription to these bonds open
only Arizona Commercial shareholders and with each
subscription of $780, bonus of 20 shares Of Superior
T'oson stock will be given. This will call for issue or
$4,000 Superior stock This bond issue
fully underwritten. recapituate the stock
issue will he follows
Superior & Boston shares now issued. .265 900
For Arizona Commercial bonds =. =. 100000
To bond issue. ......... 10000
For Arizona Commercial subscription
bonds ............... .............. 10000
In treasury '.''''''..''''' .'''.''''... 5000
Total C,apital - e GEO moo
i