Bisbee daily review., 1911-03-09
WALKER SAYS SITUATION
 |S SOUND
CBy Geo. L. walker)

l2 3-i cents. and electrolytic is 12l- to 121-2 cents a pound. Domestic consumers have been buying more freely in the past week or two, and report that their business is | showing a tendency to improve. For eign buyers are in the market trying to make contracts for considerable amounts of copper at slight conces- sion from ruling prices.
 Although production was probably much smaller in February there isl no good reason for the expectation that the Copper Producers state ment next week will show any de 1 crease in the surplus. The foreign visible supply showed further shrinkase of 1.s12.le0 pounds during February: but against this de crease of over 20.000,000 pounds in the exports from this country is in dicated b ythe metal exchange fig ures Tn view of this it will not be surprising if a slight increase in the domestic surplus is shown by the. forthcoming figures.
 A sort of general readjussment seems to be going on in the trade just now, which makes the situation look very much worse than it act ually is Within a few weeks there is practically sure to be resumption of heavy buying by domestic and foreign consumers. and it will prot- ably carry the price up to 13 cents
 again
 The advance in Osceola stock above the equivalent i: was to receive in the consolidation. and the later de. cline in Calumet & Hecla, caused local financial interests to turn thei rattention from the contempla-
 ton of ;he merger to oonsidera. ' ton Of the relative prospects Of the various coppers. Traders are now beginning to debate with them selves the question. of which copper ! stock is the cheapest and most like | ly to have an early advance. If this | form of mental discussion continues ! little while it will be likely to ] corcen: bte tHIng orders in | few stocks. and this may start gen
 eral advance
 At current prices Quincy, Copper
 Range. Utah Copper, Nevada Con
 solidated Old Dominion. Tennessee
 Indiana, Inspiration, Mason Valley and Braden are very cheap stocks. There are excellent speculative pos sibilisies in Amalgamatei. and even
 in Butte Coalition and Parroit. all tree of which are selling much lower
 than the equivalent market value fof the Anaconda stock which they
 hold in their treasuries. think
 the eoppers will be more active and
 stronger soon.
 Live Oak Development director will meet Monday to offer to stock
 holders at S20 a share. on the basis of one for each four shares now :, held. 12,500 shares of the stock re-
 gently authorized It is proposed
 that the new stock shall be poid for.
 g. down and s15 May l. The issue
 has been underwrit:en by banking 4 interests who have been prominent in Utah Copper. Ray Consolidated
 Miami and China affairs This must
 be recognized as a strong endorse ment of Live oaks value. The stock
 should be bought
 Ray Consolidated's new concen trator will begin treating ore next week. By July 1 it is expected tC be handling 5000 tons daily
 Miami's concentrator will probabl, go into commission in about a weeI
 or ten days. The high grade ot ] Miami ore is a guarantee of profit ' able operations from the time pro
 pdction begins.
 Inspiration stock. now selling ? around sS a share. offers a rare op
 portunity for speculative investment 9 In this company's property. whicl t adjoins the Miami, and which is de clared by mining men to 5e. eohsiG | cred from a mineralized standpoint | two or three -times as large, abou t 22,000,0 tons of concentrating or
 averaging slightly over per cen
 copper has been demonstrated a
 ready, and there is every reasoI - for the belief, based upon scattering t drill holes in the outlying area, tha Il a total of 35.0OO.OO0 to 10000 .0of y t@Ls will be developed ultimately. D This ore should yield under treat ! men: 27 pounds of refined copper t' [ the ton. Allowing for a workini 2 cost of $40 a ton, which is a verl l. liberal estimate. the cost of it's cor s per will be nine cents a pound. Thii y will mean a profit of s1.0S cent 'f per ton of ore on 13-cent an' s S162 a ton on 15-cent copper. [ , would seem a reasonable expectation D that the Inspiration property can b T. made Co yield a profit of at leas 5. S35,O0O,0 900 to s40,000.OO0 in tn
 coming 20 years, At Ss share. tn