New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-05-14
COPPER MEN BACK AGAIN.
NEGOTIATIONS NOT YET ENDED,
THERE WAS AN OBSTACLE IN THE WAY OF AN
ACKNOWLEDGEMENTS HOWEVER, TKAr
THERE WILL BE NO CRISIS.

! THERE WAS AN OBSTACLE IN THE WAY OF AN
ARRANGEMENT-BELIEF. HOWEVER, THAT
THERE WILL BE NO CRISIS
The representatives Of the American copper mines,
who won't 10 Paris weeks ago to see Il an
arrangement could be made with the French bankers
and the foreign mines 10 the future Of the copper
market returned yesterday by tho steamship servia
They were ]. B. haggin, owner Of the Anaconda
mine Colonel T. l. Lvermore, representing tho
Calumet and Hecla company, and A. A. Wheelook,
Of the firm OF Jerry, Abbott Co., who were tho
American representatives of the SOoete dcs Meteaux
before its failure Mr.. wheelOck went abroad tho
representative OF several of tho smaller American
mines.
Mr. HaggIn was. brief but emphatic IN declaring
that no ARRANGEMENT had been made that the AmeIi
mine owners had come back prepared to put their
copper upon the market freely. Tho other repre-
sentatves went 10 the Brunswick Hotel, where they
were engaged In examining the cable dispatches that
had como from Parts since they sailed 1t was sad
by other copper in the city that these dispatches
were important; that the Rio Tintos bad With
drawn certain demands on which the negotiations
In Paris had split, and that these might now be re-
Sumed. At o'clock Colonel LvermOre was seen
by Tribune reporter, and the difference between the
tone OF his remarks and those OF Mr. HsSgn earlier
In tho day lent support to the reports OF the nature
Of the dispatches He said that all reports that the
lions were suspended without having reached con-
cusoD, but that they stll pending The failures
OF the Soccte dos Meteaux and the Compton d'Es
oompbe left 100 900 tons Of copper In the hands OF
tho French bankers The American men went over
to II this stock to be thrown upon the market
at the risk Of demorallzlng prices They had become
satisfied that the Frenchmen considered their copper
good security to hold and that there would be no
crisis.
We found the English mine-owners and the French
holders ready for agreement as ourselves said
Colonel Lvemore. After number Of conferences
ers should take certain number Of years to market
the copper they had in their hands, and that mean
time tho mines should reduce production
enough TO enable the bankers to dispose
Of their stock 1t understood that
minimum price should be fixed for copper low
enough to suit consumers and not low to ruin
the mines pause was made In the negotiations
70 enable tho EngliShmen TO lay the terms before
their stOCkhOldes While we were waiting tho repre-
sentatyes Of the Rio TfntOs demanded that the
American mines should agree to restrict their export
Of copper. That refused To do"
Being asked II the dispatches from Paris since no
sailed showed that the RIO TntOs had withdrawn that
demand, Colonel LNemOp replied that he did not
caro- 10 publish tho dispatches. do would say, how
ever that mOdl fcatiouS had since been made on the
other side leaning toward the American position, ana
that tho outlook for final formal agreement was not
hopeless. Colonel Livermore. upon seeing pub
lcauUn 10 hhc effect that there was 10 be copper
war 10 the knife said that tho statement was 1T
least premature. There may bo war IN copper he
said. but don't SEQ any thing at present to base
such prediction upon. In short the negotiations
not ended
formal meet s1g OF American companies 10 their
report or on tho later kilograms from Paris