Show BUTTE COPPER MINES TO CLOSE CLOE Overproduction and the Difficulty Difficulty Difficulty culty of Securing Fuel Given as the Reason STOCKS fAKE BIG TUMBLE RUMORS OF FINANCIAL TROU TROUBLE TROUBLE TROUBLE BLE IN PHILADELPHIA New York Sept 12 The Amalgamated Copper company Is about to shut down Its mines about Butte Mont for tor an Indefinite indefinite Indefinite nite period From an interest closely iden identified titled with the company it was learned that the suspension of operations is due to overproduction and lack of demand for copper and to some difficulty in obtain obtaining obtainIng ing lag sufficient fuel at Butte According to the authority for the an announcement announcement announcement there is now a surplus sup supply supply supply ply of pounds of refined copper In the United States The production of or refined copper in September he said would be pounds less than In August The present prese t price as quoted In Inthe Inthe inthe the market Is about 18 cents a pound for electrolytic but according to the authority referred to It is doubtful if 15 cents per pound could be obtained for any an consider considerable considerable considerable able quantity Led Downward Movement The Amalgamated Copper shares led a sharp decline on the stock market this afternoon the stock selling down to a loss of ot about 4 I points before To ays quotations on the stock ex ox exchange eC change wore were the lowest in years ears Henry H Rogers president of the Amal Amalgamated Amalgamated Copper company compan is now at his home at Fairhaven Mass Counsel for tor Mr Rogers announced an In court in Boston toda today that Mr Rogers would not be able to appear there in a suit In which he Is I interested for at least three months News Confirmed Sanction was given to the report on the exchange of the Intended shutting down of ot the copper mines in Montana and the futility was admitted of piling up further stocks of or copper with the buying demand paralyzed And Amalgamated Copper naturally led the decline In these circum circumstances circumstances stances breaking to the neighborhood of or 60 50 with rumors In circulation of a cut In Inthe Inthe inthe the dividend In prospect American Smelt SmeltIng SmeltIng Smelting Ing fell nearly to 90 and Anaconda to near 37 n The United States Steel stocks broke badly In the latter part of the day the common selling at the lowest price of ot the year |