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Show I!. Is II, i Mining Co, . U h Join the Tim!? ; : belief in Boston That Buying of TJ. I I S. There Foreshadows an 'ill Alliance. Anent the current reports that the ;j jf American Smelting and Refining com-' com-' 'I 'iff imny is attempting to secure control of ' jjlf the United States Mining company, the ; , ml lolloping Boston correspondence of the Engineering1 and Mining Journal will , 'illiff prove interesting: Although there has been a very nc- jijj ' tive market in mining stocks the past ! 'jj week, few shares are selling at better '' ,i ? ' i j)rlces than a week ago. NeV York is j 4 reported as being a big factor in the lo- ;" m cal market, and big buying orders were -f ' placed In United States and Bingham ' JKC particularly. Some of the so-calletl if; prospects have also been in better re- l I ' quest, but as a rule, prices are lower ; K for the week. The market has been j '! broad and the most active seen for al- ; j 1 most two years, and with the tremen- ' , dous profit-taking, shows wonderful vi- .' 1 ' tality. It is expected that there will j I be another upswing that will carry i 1 prices much beyond current quotations. I J The bulls certainly have the argument, j '! for with a. higher price for the metal, ;B money is abnormally easy for this time Jj of the year. The recent activity has not ' , If caused, even a. fluttcr'in the money-jnar- ij. II kei. It A united states aiming started iTitiay jf of last week at J21.S7V&. and easily rose jlial to ?23.621 that day. The following day It touched ?2i.S7Vi, and Monday it sold , ' at $25.75, closing tonight at $25, a net (: advance of $3.126 for the week. Trad- ji j ing in it has been extremely heavy, . I , with over 10,500 shares on Monday f alone. Current report Is that the Lew- 1 r ' Issohns have been large buyery for i American Smelting interests, and one j i 'J report is that thest Interests offered $35 j j a share for a controlling interest, which ; is held by a few people. The private i 1 smelters In the Bingham camp have ! given the Smelters people some sharp 1 1 ; and unwelcome competition In the mat- ! ! " ter of custom smelting, and the recent ; 1 ' buying is believed to foreshadow .m al- ; j liance of some kind. The late offering ' of 2S.750 shares of United States Mining Mi-ning stock was taken by the large hold- , i ers, as there was no profit in. the trans- 1 1 action at the time. Net earnings for t 1 September were about $30,000, agnlnst j $107,000 for August, and !only $30,000 in i July. October Is expected to foot up over $120,000. The new Mammoth prop- ' ! . ' erty. In California, lately taken over, I Is expected to add from $40;000 to $50,000 revenue per month. Bingham advanced $2.50, to $31. clof- 1 Ing a fraction below this. The Smel- ! tors people are said to have large hold- ' , j ings of this stock. This mine is earn- ' i hig about $25,000 net per month, and. j l' j under agreement, will do lere custom 'iri work, and treat more of it own ores. |