The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1899-01-26
COPPER PRODUCTION.
NOTWITHSTANDING OUTPUT
THE PAST YEAR
Stocks Are Now Almost Exhausted
Both in the United States
and in Europe.

NEW YORK, Jan. 25.-According to
the official figures of copper production
in the United States last year there was
an output from the Montana, Lake Su-
perior and Arizona mining Localities
which exceeded that of 1891 by over
Is, ESQ tons. The close of the year, how
ever, notwithstanding the large produc-
ton, found stocks almost exhausted
both in this country and in Europe.
John Stanton, the statistician of the
copper industries, in discussing the sit
uation with a representative of the New
York Times" took the view that high
er prices must come and that still
greater increase of production will be
necessary to meet growing demands
Mr.. Stanton said.
while the production of copper for
1898 shows considerable increase over
that of 1897 and is by far the largest
production ever made in this country,
the consumption has also been very
large, especially since the close of hos
Utilities with Spain. Stocks in Europe as
well as in the United States at the close
! of the year were unusually low, there
being practically none in sight. AS a
consequence, copper has been making
very rapid advances, and it has been
rather hard to keep track of it for the
past two weeks or so. should say that
16 cents is a fair price for copper to-
day and that represents the highest fig
ure reached in many years. Consump-
ton is so large that it looks, too, as if
a higher figure will be obtained.
The popularity of copper's position
is that during the last few years of de-
preston the production has constantly
been increasing, and yet consumption
has carried it all off. European stocks
have been steadily declining, until now
they have reached the lowest point ever
known. The electrical industry is a very
important factor in the copper business,
and its need of copper is growing great
er. Wherever railway or other con-
struction is going on there is always a
large demand for copper in the form Of
brass and a variety of other articles.
And as the electrical business advances
by leaps and bounds it is no easy mat
ter to tell what quantity of copper will
in this way be absorbed
Now that a betterment in business
generally is being felt, great stimulus
has been given to the opening of new
mines and the development of copper
properties 1t is apparent that the.exist-
ing mines have not capacity to furnish
the quantity that will be needed in the
near future Companies with good pros
poets of becoming producers find that
their shares are eagerly sought after
and it is the general belief that for some
time 10 come copper mining will prove
profitable
"A good deal has been said on the
subject of copper combination. 1t is
quite possible that combination Of
certain interests may be effected. but
as to general combination of one be-
tween the largest producers. that is
simply absurd. / don't think there is
any foundation for it at all. Some
groups of mines have a tendency 70
consolidation. being owned and con-
trolled by practically the same men.
but where interests are very distinct If
would be difficult to arrive at anv ha-
SIS by which consolidation could be
carried out equitably In. my iudg-
mem there is no foundation for stories
oil general trust or combination.
AT present there is no difficulty IN
selling copper at good prices. Eyery-
thing that is offered is eagerly taken
up. Those who have it to sell must
look upon the outlook as highly encour-
aging"