Arizona silver belt., 1901-10-10
THE COPPER SITUATION.
Pronounced Improvement During the Week
 Causes Which led to the Recent Furry

disturbance in the copper market are various, chief ot which are, the failure of the Amalgamated company to de. clare it's usual quarterly extra divi- dend, the heavy falling of in exports of copper from the United States and the alleged accumulation of consid erable stock of copper by the Amal- gamated interests. There was a sharp decline in the price of copper on the London market and heavy selling of copper stocks in New York and Bos- ton, but late reports are to the effect that the market has recovered from it's depression and more confidence is shown generally. The Engineering X Mining Journal says: "There has been no change in prices, and the con sensus of opinion seems to be thai there is none in prospect Manu- facturers both here and abroad are utterly bare of stocks, and now thai 1t is becoming quite evident from day to day that the price is not likely tu break, there is more and more buy ing" Lake copper is quoted at siN- teen and one-haf cents.
 It seems impossible to make any re liable estimate of the amount of cop per now held by the Amalgamated people, but it is variOusly stated a from 5O,000 to 60,000 tons, which s not excessive, representing only about three months production, and as John Stanton, the eminent Stdtisti clan and authority on copper, says: Tt is quite impossible to carry on business in the copper trade with less than three months production Ou hand and 1t is not unusual to have i've or six months stock on hand"
 D. Willis James of Phelps, Dodge X Co.,, expresses the same view He says: 'If the stock Of copper in this country is as is claimed, some 6O,00O tons, it is only some three months production and there is absolutely nc stock in the hands Of dealers or specu lators, and as all the consumers ap virtually bare Of supplies and running from hand to mouth, l see nothing ir that fact of the stocks being carried to create any distrust. The changes in the copper trade of the past few years have changed the methods of doing business: and instead of stocks of copper being divided in man! hands. mining companies, dealers, Speculat0rs, etc, the consolidation Ol producing interests puts the entire stock in virtually one hand, the Ama- gamated Copper company. The pre',- ent strong hands are able to take care of such stocks were they twice the quantity. do not see any signs 1f Increased production Of copper during the next twelve months as compared with the last twelve months, and all the authorities will confirm the fact that the cost of producing copper has lately been steadily increased. There has been no falling of in the English consumption: but the wave of cleo trical promotion in 1900, on the conti- nent especially in Germany, has for the present received quite d set back, and if there has been any decrease in the consumption of copper for the world this year as compared with last year, it has been only at this point. Whether the falling off on the conti- nent has been made up by the in- creased consumption in the United States l cannot say, but everyone will agree that this country has used great deal more copper this year than it did last year."
 The Amalgamated's side of the question as given by an undoubted authority on Amalgamated affairs is that the talk of a reduction in the price of copper is sheer nonsense; that there is no probability whatever, and scarcely a possibility, of any such re- auction. The company, in connection with the United Metals Selling com. pany, controls the copper situation of the world, and is entirely able to tix and maintain the price The state ment Is positively made that, while the companies affiliated with the Amalgamated have a surplus of cop. per on hand, they have not one pound in excess of the amount required to carry on their business with safety.