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Show COPPER STOCKS NOT DISCOUNTING FUTURE hav seta artlelM published recently recent-ly showlntr tbc total sppreclation recorded record-ed by a luvtre number of tho mast Important Impor-tant copper stocks slnon tho law o 1011, and comments have been mado on the enormous figures shown, sp.Jo Thompson. Towlo & Co. In. considering- this totaJ. which has reached noarlv $300,000,000, It should not be lost Bight of that tho low prlooB re-cordod re-cordod In 1911. and from which the advance ad-vance has been fluured, were exceed Ing-ly Ing-ly low and In turn represented a depreciation depre-ciation of the enormous Bum of S500,00l).-000 S500,00l).-000 from the high of the preceding- year when copper was selling over 2 centB per jiound under present prices. We are of the opinion that the advance recorded by copper slocks aa a vhole has been more than Justified by conditions, condi-tions, for durine this period the price oi copper metal has advanced ! cents a pound and the world's surplus has been reduced by more than 100,000 000 pounds. Of thirty-eight of tho most Important copper produolnsc companion ciffht have incroased their dividend rate, one of these three times; two companies have paid their Initial disbursements, olffht are In a position lo increase their dividends In the noar J'uturo, while several others, by the olose of tho present year, should make their Initial payments. Even In the face of those oondltlons and tho fa.voni.blo faotors which have boen influencing; the copper market tho average price or tho stocks Is Btlll below tho high of 1010. |