The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-01-26

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 SUI
perior and Arizona mining localities
which exceeded that of 1897 by over 49,
coo tons. The close of the year, how
ever, Notwithstanding the larger pro-
duction, found stocks almost exhausted,
both in this country and in Europe. Mr..
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 increase 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 hos
tilitieS 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 fer the past two weeks or 50. j
should say that 16 cents is a fair price
for copper today, and that represents
the highest figure reached in many
years. Consumption is SO large that it
looks, too, if a 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 it's need of copper is
growing greater. Wherever railway or
other construction 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 matter to tell what quantity Of
copper will in this way be absorbed.
Now tina 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 viii be needed
in the near future. Companies with
good prospects Of becoming producers
find thai their shares are eagerly
sought after, and it is the general be-
lief that for some time to come copper
mining viii prove profitable.
"a goOd deal has been said on the
subject OF a copper combination. 1t IS
quite possible thai a combination Of
certain interests may be effected, but
to a general combination or n be-
tween the very large producers, that is
absurd. 7 don't think there Is
any foundation for it at all. Some
groups of mines have a tendency to
consolidation, being owned and con-
trolIed 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 equitabIy. In my judgment there
is no foundation for stories OF general
copper trust or combination.
Al present there is no difficulty in
copper at good prices. Every
thing tina is offered is eagerly taken
up. These who have it TO sol must
upon the outlook as highly n
.couraging."