The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-01-30
STOCKS ARE EXHAUST
Stanton Looks for Higher Prices
for Copper.
COMBINATION is ABSURD
The Statisticlan Says There Is No Basis
for the Rumor of Gigantic Cop
per Trust-The Outlook
Encouraging.

New York, Jan. 29.-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 1897 by over
$4,000 tons. The close of the year, how
ever, Notwithstanding the larger pro-
duction, found stocks almost exhausted
both in this country and Europe.
John Stanton, the statistician of the
copper manufacturing industries, in
discussing the situation with a repre-
sentative of the New York Times, took
the view that higher prices must come
and that still greater increases of pro-
duction will be necessary to meet grow
ing 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
hostilities 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 consequence copper has been MAX
ing very rapid advances and it has been
rather hard to keep track of 1t for the
past two weeks or so. I should say
that 16 cents is a fair price for copper
to-day and that represents the highest
figure reached in many years. Con-
sumption is SO large that it looks, too,
as if higher figure will be obtained.
1.-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 needs of copperis grow
ing greater. Wherever railways or
other construction is going on there is
always large demand for copper in
the form of brass and variety of other
articles. And as the electrical business
advances by leaps and bounds it is no
easy matter to tell what quantity of
copper will in this way be absorbed .
Now that a betterment in business
generally is being felt a great stimulus
has been given to the opening of new
mines and the development of copper
properties. 1t is apparent that the ex-
listing mines have not capacity to fur
nish the quantity that will be needed in
the 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 to come copper mining will
prove profitable.
"A good deal has been said on the
subject of copper combination. 1t is
quite possible that a combination of
certain interests may be effected, but
as to a. general combination or one be-
tween the very largest producers, that
is simply absurd. I don't think there
is any foundation for it at all. Some
groups of mines have a tendency to
consolidation, being owned and con-
trolled by practically the same men,
but where interests are very distinct it
would be difficult to arrive at any basis
by which consolidation could be carried
out equitably In my judgment there is
no foundation for stories for a general
copper trust or combina ton.
There is no difficulty in selling cop
per at good prices. Everything that is
offered is eagerly taken up. Those who
have it to sell must look upon the out
look as highly encOura ging"