The Clifton clarion., 1888-07-25
The Copper Syndicate.

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 Notwithstanding the fact that copper is still quoted as firm at 1875 there seems to be some ap- prehension expressed as to the strength of the great French syn dicate which is at present controll- ing the market. The following conservative opinion of the state of things is taken from the Min ing and Scientific Press of San Francisco:
 The operations and prospects of the Anglo-French Copper Syndi- cate are getting to be something of puzzle to outsiders, if, indeed, the managers of the great "trust" are not themselves beginning to entertain some doubts as to the final outcome of their gigantic speculation; evidently things have not gone quite as expected.
 This syndicate was formed toward the end of last year for the purpose of controlling the copper markets of the world, to which end, as first movement, they contracted for the entire pro- duct of the leading copper mines on both continents, the quantity to be delivered, and the price be- ing fixed in the contract. This done, the price of copper was at once advanced, going up within the next 90 days from 10 to IT cents per pound-S140 per ton.
 For the accomplishment of their purpose the conditions existing at the time were extremely favorable. Stocks were limited and prices were low. The winter being at hand, it was impossible for the big companies of Montana and Michi- gan to increase the their output without some delay, as their plant could not at that season of the year we'll be enlarged. The de- structive fire that @ few months before had broken out m the Calu- met and Hecla, largely diminish ing production there, also worked to their advantage.
 Up to the middle of June last, the stocks of copper in England and France amounted, with car goes afost, to 10000 tons, the largest ever accumulated; nor is there any reason to believe this accumulation will soon be checked. On the consummation of their scheme this syndicate calculated that production would be cur tailed. But in this they have been disappointed. Encouraged by the high prices ruling for copper, new mines have everywhere been opened. Companies already oper- ating have increased their output, while others that had long been idle have again gone to work.
 As result, the product of this metal has not only been largely augmented, but these outsiders are entertaining the market and underselling the syndicate. Thus far the latter has, by buying much of the copper altering, succeeded in keeping prices up to their standard, thereby avertlng a break in the market. But the question is, how long can they continue to do this? How long will it be under such 8 financial strain before something gives away. It is said that the syndicate and their friends cannot afford to let go; but, all the same. can they afford to hold on. The probabilities are that they will allow prices to grad uallp give way, and thus avoid any sudden crash. By reason of the prevailing high prices, manufac- turers have bought copper spar ingly, hoping all the while to see a drop in the market. Holding off in this manner for six or eight months, consumers supplies as we'll as stocks in second hands are low and must soon be replenished. We'll advised of the situation, the manipulators of the ''trust," talk