The mining industry at a glance
Media
Part of The American Chamber of Commerce Journal
- Title
- The mining industry at a glance
- Language
- English
- Source
- The American Chamber of Commerce Journal Volume XVIII (Issue No.12) December 1938
- Year
- 1938
- Rights
-
- Fulltext
- 22 THE AMERICAN CHAMBER OF COMMERCE JOURNAL December. 19 38 market has declined, hovering peril ously close to new low ground. Technically, the New York mar ket appears to be gathering strength, and ominous news dispatches from abroad have so far failed to shake OVEJERO & HALL STOCK, COMMODITY & EXCHANGE BROKERS MEMBERS MANILA STOCK EXCHANGE NATIONAL PRODUCE EXCHANGE NEW YORK COFFEE & SUGAR EXCHANGE 6th Floor, Wilson Building Juan Luna, Manila Tel. 2-10-51 Cable Address OVERALL, Manila out any appreciable amount of stock. Seasonally, a rise can ordinarily be anticipated during the early months of the year and present market ac tion justifies the belief, barring un expected adverse developments abroad, that higher prices may be seen within the reasonably near fu ture. Overlooking, therefore, a fur ther period of indecision and irregu larity during coming weeks, the longer term outlook currently is for a continuation of the recovery cycle. A Timely . . . (Continued from page 18) knowledge, reflects to a great extent con ditions as they now exist at the mine. We realize that mining at best is a hazardous venture and these estimates may prove ex tremely optimistic as present future pros pects become history. On the other hand, we believe that there is sufficient reason to presume that instead of these estimates proving exceedingly optimistic they may very well exceedingly conservative. For this reason; the progress of San Mauricio over the next few months should be watched closely in order to fully participate in any change in market price, which will only be reflection of actual operations and condi tions as they exist at the mine. The Stock . . . (Continued from page 20) moment no reason why any parti cular weakness should develop pro viding world conditions remain about unchanged. In assessing the possibil ity of a reaction it is well to bear in mind that although the averages have staged a considerable percentage ad vance this has been largely accounted for by wide gains in only a few indi vidual issues. As these are apparent ly fully justified, in almost all cases, the market may not be in as vulner able a position as might be expected after such a sustained upward move ment. The likelihood of any runaway rise appears to be equally slim. Local and world conditions are not ripe for such a movement, however, it would appear that the present healthy con dition of the majority of the produ cers, and near producers, coupled with the increasing dividend dis bursements, would bring confidence and money enough to support a price structure irregularly higher than that to which we are now becoming accustomed and could lead to a some what more active market early next year. IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE .JOURNAL
- pages
- 22