Show OPTIMISTIC ON COPPER Walker of Boston continues to take an optimistic view of the copper situation and holds that while the market is very dull and prices for the red metal have been allowed to sag there is no occasion for alarm He further shows that what selling there has been done of late tate is only by the small operators who come on to th the market ar each day w with th their output r rs i f The big producers u are not selling a pound of their o ores at the feri prevailing n market mar mar- ket quotations and there is no likelihood II d that they will come on the market with the product for at least thirty to sixty days or until they can get their depleted stock replenished Within this time It is said that tha t some sort of a settling price will be agreed upon between the consumer and the producer and that the tile price will be better than 20 cents there has never been any reason for doubt Mr Walker says This is 15 the tIle period of the year wh when n manufacturers take account of ot o stock the fiscal year vear of man mant corporations ending June 30 This Thill accounts for some of the tha holding off of on purchases of new copper until near the beginning of the new fiscal year year Another phase of the situation that has disturbed purchasers of copper is the fact that consumers of the finished products have been frightened by the specter of f business s n d depression s and consequently consequently con con- y U have a been n slow Blow on 0 orders s Ct for shipments over the end of this period Consumers or ni supplies Pf le of the ae metal a are ve very low and it is believed t that there h TV will ill be very little surplus copper available In the market after they have contracted for their nearby requirements A uA A good degree of activity has developed developed devel e in the coppers during the past week and as all I have predicted activity has has' brought higher prices The coppers copper had been thoroughly liquidated and a substantial substantial sub sub- short interest had been cr created In many issues The scarcity of stocks was apparent Immediately when the de do- I mand started Buyers of copper shares have been forced to bid prices up in order or order order or- or der to obtain stock and the offerings even at atthe the higher prices have been small The buying has come chiefly from the big interests who WIlO have changed their attitude attitude atti attl- tude rude on the market markot The Tile failure of the copper stocks to reflect the very encouraging encouraging encouraging aging conditions has been due to the genera general general gen gen- era eral situation and not at all t to anything In In inthe the position of these stocks I 4 No other group of stocks holds out such good promise of profits as the cop cop- pers per Sales of copper for future delivery probably will be reported soon and the price Is likely to be higher than the public public pub- pub lic lie has expected This will tend to stimulate late the public buying which has been curtailed through fear of lower prices The average price of copper this year will ings be of f higher all the than producing for fn 1906 9 companies pi The earnings earn earn- will li be greater Dividend distributions will be increased The present year will be the most favorable ever enjoyed by the copper copper cop coP- per mining sg companies ies yet et prices es of copper copper cop cop- per stocks a. a are lowThe lowThe low The uThe public will find that the stocks which it has been selling have been taken by the big copper interests and that as when It t the will ful public it lI will l wants lan have v to buy to y pay them higher back r prices |