The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-07-03
CURRENT x :, III COPPERS
~ GOSSIP IL OBy'' a. c M1MFE AM
NEW YORK, JUNE 30.


inactivity and the accumulation of news and dis
cussions which i'm active would be construed
bearshly seem to have result pf stimulating the spec
ulaton nor of making any notable change In prices
The had to digest this week such matters as
tie poor statements of the Hartman lines which ON
mileage basis showed unfavoraby, the rumors of In
dictmens against subsidiaries OF the Steel Corpor
ation which eliminated in long list of indictments a
general continuation of activities against
the corporations and repetition of unfavorabe
news regarding spring wheat and the grains
Nevertheless apparently for lack of something better
&c do the market has ignored all these things and the
holders to have considered them
enough TO warrant preceptibe liquidation
on other hand, trade reports regarding the steel
industry certainly optimistic although unforu
nately the pig market shows improvement In
places the hesitation due to lack of confidence
tnues the general volume of the is large
and situation is such that sound basis for
c activities certainly exists.
II difficult conceive when this absolute lack
leadership in either direction the security market
will terminate. At present the situation deadlocked
until the advent of forces which will
things out of the present ru there IL little to say
apparently less argue about
However continue in of the full side Of the
proposition and believe that when activity develop
excellent will be apparent happy event,
working In the direction of higher prices
N. j. MILLER OF MILLER & co.
BOSTON. MASS, JUNE 80.
The half year ending showed steady i'm
in 1t copper at - cents
the pound and has risen to 12% cents period of
generally adverse business largest for the
being at the advanced figure.
Refinery production for the period at 1885,
100000 pounds which includes copper Alaska Mex
co South America and some from the continent of
and Australia. Curtament extent of Is per
cent agreed by all domestic consumers during
the period of low prices for reason but more
from the increased European demand stocks of copper
have increased said by those i'm pos,-
ton to be informed that the demand will be bet,
ter than take of the worlds production by about
OOOOOC0 pounds for the year. surplus being due to
former stocks accumulated subsequent 1907.
If these figures are approximate II would that
the consumption of copper for the 1911 will reach
somewhere the neghborhood 100000 pounds which
is about the figures that been expecting it toll
show. Certainly these figures slight hope for
the future matter to what pitch dumps the
industry may have fallen into for the present
OF course the statements electric companies as
closely Their statements lead 10 the conclusion
that they have done business equal to that OF
the preceding year.
Lighting, heating and power companies show a general
increase business so much as they would have
done had business generally been going at Its normal
gait
The makers of automobile parts have kept their ON,
put up to last years standard
1t Is also worthy note that the steel business which
ran along at 90 cent of capacity during most OF the
baf period going at the rate OF so per cent
of capacity Naturally this a direct bearing on the
copper situation.
For the month decrease of 10000 900 to 1000
700 Is conhdentally predicted but such have
in the past been noted their inaccuracy Suffice to
say however that great deal copper mas gone
into trade channels during than In any previous
month of the current year are still hopeful OF an
early attainment Of the 1S-cen level for the metal
Even those who claiming the cheapest costs are
now admitting that higher metal market necessity
TO them and even more liberal in
their admissions as to costs before expiration of the
year
The Interests having the would long since hav.
agreed upon some scheme which would minimum
oil II cents had 1t not been for ensendered by
the constant attacks upon combinations OF every sort
At the present there no Immediate likelihood NJ
EFFORTS toward combination consolidation until the
path by which may accomplished legally Il.
plainly Indicated
J. II. CODY, OF MILLER q co
OLD COLONY
contract for 5000 diamond drilling has hss,
let by Old Colony. be started in the very
near future AS result of this fact the visit this
week to the property by President f. Fay old coopv
has been feature of the copper share market an,
showed substantial The recently called M
sessment In being paid satisfactorily by
erS and the company has provided Itself with fund.-
ample TO thoroughly explore It's very promising proner
SOUTH LAKE y
Ground Will be broken week for the new SHAFT
70 De SUNK oy 'ne south Lake company The shaft
viii down in the footwal and should rescb 81, -,