Butte semi-weekly miner. [volume] (Butte, Mont.) 1886-1890, 1889-03-23
WILL NOR ArFEor BUrrs.


II nerss-d How i i kss.rdsd asre. i
The ssport sof the ID ure OF the Paris
Syndicate caused By the nature Of the
afternoon dispatches from London and
Paris crsateda guaranteeing on anxiety III
many here yesterday. Copper is busted
YVES the remarklmaaeI ByIhany on reading
the dispatches. The natural inference
seemed to be that thia. would react disas-
srously on Butte and that q season OF en-
forced idlsness would follow to its mines
and smelters from the large amount OF
s~tock-on-hand copper which would be
thrown on the market. The quotation OF
Chill bsra IN London islIto $40. equivalent
TO 8 cents q poupd with Q difference Of
about 3 cents for Montana copper. Natur-
ally, then, most lpAopls- looked for the
worst results to follow.
Butinquiry among asntlemenowho u
dsrstand the condition OF affairs here
shows that the situation is not so disas-
trous 40 appears ct first blush. Superin-
tendsnt Couch in swe TO questions as
to how the Boston and Montana company
ID affected by the news said: az have q
dispatch from Lewisohp d Co., bearing
assurances that the collapse OF the Syndi-
cate won't have any effect ON Boston and
Montana.gs When they began, they madea
contract with the Syndicate foe their out
put Tor three years Of which athars are
| eighteen month"; yet to q n." nj
"Will these contracts not fall TO The
eround now that The Syndicate has gong
ander2" 4sZ RS .23a 4
mo. The contracts are secured by Bar |
i Tn0 Rrn&horo If TnnAnr TNh~ G--l;o.<
viii be able to tide things over. When MT.
Haggin arrives in Earope he will fix things |
up. Copper will drop to about 10 cents
and the resultowill be greater consumption
by manufacturers. There 10 no caass Ter
alarm here." |
1t is known that other producers have re-
newed their contracts with the Syndicate
in d similar way-by security OF such firms
[assDrexel IL Co.sand Barring Brothers. Cop
per may take what appearance it chooses
Eon the market but they have cash security
at Q figure that ensures continued profit
able production Tor Q long time yet.
William Il. Young was one who refused
to believe that aoths Syndicate could
fail. He has the best of reasons for belisv,
ing that the conference in New York held
recently resulted in contracts being signed /
between the Syndicate and the principal
imine-owners on q basis that would place
the price OF the metal within reach of man
ufacturers while assuring the producers a
good price for all they furnished. That
conference virtually placed the American
output in the hands of the Syndicate. The
Syndicate controls Rio Tinto. and what il
there besides these in the worlds sup
ply2 The manufacturers have exhausted
all the stock OF old copper obtainable any.
where. The stock on the Syndlcate's hands !
ia largs, to be sure, bnt the consumers have
to take it for there is no other market to
80 to. They can get it at a reasonable
figure. That is understood to be one OF the
OF the results of the New York con- {
fsrence-to sell to at about Ii
cents q pound. That is as low az manu-
ever got it except for about six
OF 1887. This is bound to give q ,
to manufacturing. Then again !
look at the demand for copper that the I
building of naval vessels by all the great
powers will cause. That alone will affect i
The consumption most materially aniIl
make large inroads on the surplus. I
As to that surplus, great az it is, and he Z
reckoned it about 10000 tons, it only !
cost the Syndicate a fraction over four
cents a pound. For his part he doubted :
'he faith OF those quotations from London =
and Paris. He thought them quotations
published for efect-it might be to prevent O
my new enterprises being started-there +
be a hundred reasons why they are :
put out. He put them down as q stock.
BOARD scheme, not as the result Of actual
on the board. The Anaconda,
and Heela and other big Ameri.
an producers are committed to the q
Syndicate. In seIf-defence they will have I
% stand by it to protect themselves. The I
took OF Anaconda matte in Liverpool on :
he LIST of the month was over 26, 900 =
;ons. Mr.. Haggin could not afford to let o
hat go at a nominal figure as would be a
he result il the Syndicate went to the wall. a
lie and the other producers would have to t
ustain the Syndicate if that were at all c
necessary, which he did not believe. a
According to the Liverpool circular OF 6
'ames Lewis & Son Of the LIST OF March, a
total visible supply ON that date is
Is, 4O8 tons fine.
1t will be seen that the New York market
loes not share the panicky feeling in Lon. =.
and Paris, Lake closing yesterday at I
8 cents there. The night dispatches from
'aris speak OF a report being in circulation
o to the failure OF the Societe des Metaux,I
ot of the failure as an absolute fnality, |
hitch would be impossible if the Syndicate Il
ad gone to the wall. Everyone would !
now that, were it the case, and it would y,
Q impossible to irnpart any mystery to it. VI