Business & Finance: Curious, Confident Copper

On the New York Stock Exchange last week copper shares, long since pounded into sprawling recumbence by reduced dividends and vanishing margins of profit, suddenly whipped out of their lethargy, soared in a manner reminiscent of the 1928 and 1929 bull markets. Probably a sleeping short interest added vigor to the move. But ultimately behind it was a curious, daring action on the part of the copper producers.

Unique among commodities has been the turbulent history of copper. Oldsters recall how in 1901 and again from 1905 to 1907 Amalgamated Copper Co. forced the...

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