Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1911-06-22
THE STOCK SITUATION

The speculative markets are now very larg
ely in a position that makes them much more
satisfactory to the investor than what they have
been for many months From a period from
September, 1910, till the latter part of May.
1911, speculation of all kinds saw Of the
most stagnating epochs that it has witness
ed in New York. There absolutely nothing
doing and the lethargy prevailing enough
to confuse and discourage all those who might
have even been tempted to take the initiative in
a speculative venture.
Since the so-called trust decisions have been
decided by the United States supreme court
there has been growing desire to promote
speculation, and, in fact since that time there
has been almost constant advance in many
of the higher priced securities The Curb has
enjoyed a portion of this gain and, while it has
not been general on the outside security mar
ket it on the stock exchange, those who
were able to take advantage of the bargains
have managed to make a nice turn their
money. Signs are still with us that there is
considerable Improvement that awaits ahead de-
pending largely on the adjustment of number
of market factors to make these advances an
pear more certain. The crop outlook is natur-
ally an important factor in speculation and
while this may have very little to do with the
condition of mining property, it does exert
certain amount of sentimental influence on all
fuctuating markets, irrespective of what the
subject matter of this fuctuation may be.
Investors displaying a disposition to be
more liberal with their funds in the buying of
securities, and with the likelihood of big en-
hancement in values in the Porcupne section
commensurate with any favorable development
of the properties, the outlook ahead is favor
able and sentiment cheerful
Those who make any pretentions of making
Roadway in the investment situation recall only
too well howless than month ago the out
look of the copper situation was painted in the
darkest of colors possible in the average run
of the newspapers. It may have seemed diff.
cult to reach any other conclusion at that time,
but the suggestion outlined here that the
copper situation was one which had always in
the past adjusted itself, matter how serious
problem confronted it. There is nothing near
such an adjustment at the moment than any
possibly ascertain; at the same time the
copper stocks have advanced and sooner later
something is going to be done that will show
why they have improved. The vast interests that
are behind these large copper enterprises cannot
afford as a protection to themselves to leave
copper lag behind in any general improvement
that is vOuchsafed to occur in other lines of
business Outside of the large production of
copper now going on in the United States, there
is nothing that can prevent an improvement in
the price of the red metal Industrial enterprises
that have to use large amounts of copper have
for the past few years bought just enough metal
to satisfy their immediate demands
Such policy of purchasing considerable
quantities of the metal ahead of time to prevent
their being obliged to pay larger price at
latter date has not been carried out by any
of the large copper consumers. The minute
that the business men in charge of these con-
Germs feel thoroughly satisfied that copper is on
its way up, they will enter the market for much
larger lots than they have bought for the past
two years.
They will be obliged to do this simply to
protect themselves from having to pay anywheres
from two to three cents per pound more for
their metal at latter date and again the cop
per situation will have been automatically re-
lieved. If any of these consumers get wind
ahead of time that merger is going to be put
through positively, you will see one of the incest
scrambles to buy copper metal that has been
witnessed in this country since they were break
ing each others backs to get the metal in the
summer Of 1906.