Arizona republican., 1901-10-01
TO KEEP COPPER UP
Standard Oil Will Maintain the
 the Price
It Controls all the Floating Supply. Recent Manipulations Believed to Have Been Made to Force Rivals Into Line.

New York, Sept. 30.-Persons close to ths Amalgamated Copper company stated today that the Standard Oil interests now control absolutely tue worlds floating supply of copper and that they materially strengthened their position during the recent slump in the prices of copper securities It was semi officially announced that no re- duction in the price of copper would be made at this time. but that it would be held at i65s cents to r cents, ac- cording to grade.
 The slump in the price of the article in London, it was said. will not make any difference in the price on this side. for the Standard oil people control the floating supply on the other side of the Atlantic and all buyers must come to them except for a very small propor- tion of the output, which is in the hands of competing companies. The l latter will naturally try to get as much for their product as possible
 One benefit of the recent break in i stocks. it is asserted. has been that some of the rival copper men have been badly squeezed, and they can more readily be forced to fall into line. Some of them are tied up with contracts, and | if the Amalgamated company were to let off the price of copper the former would be seriously crippled. Probably | the threat that the price will be t-dropped, just as the price of oil used to be reduced by the same people. win accomplish the desired end.
 | When asked if it was meant that F. ! A. Heinze had besn cornered at last. | the reply was that MT. Heinze had been pretty well shaken up. and the AmaI- | gamated people have no fear that he will be able to disturb them further in Montana. It was added that Mr. Heinze. like other men. probably liked to have the price of copper stocks re- main up.
 The Boston contingent. 1t was sa;G had been hit very hard and there is not likely to be any trouble in getting the | principal rivai companies to agree to maintain prices. In the past they have marketed their output. while the Anal samated company has held the basket. resulting in it's piling up q surplus O.. something like 135, ,0OO.00O pounds.
 In regard to the condition of the cop- per trade it was explained that while there has been a heavy falling off ii' the demand in Europe. the stagnation is over, and some improvement is nov, expected, while in the United States there has been a small but steady growth of the copper trade. The Anal gamated people are depending on the position in the United States for hold ing the price.
 It was said today on the highest au- thority. that during the sharp break in securities the screws have been put on certain rivals until they agreed to make terms. There is reason to believe that yesterdays drop in the copper market in London was manipulatel from this side in order to help out the general programme to control the worlds markets and make competitors come to terms.
 over the coming meeting Of directors oi the Anaconda Copper company, which was set for 2:30 o'clock. to take action on the semi-nnnual dividend. The i'm pres<ion was quite general that thf extra dividend of 75 cents a share Cht par value of which, is s25). would D, passed and that only the regular $1 2 a share would be paid. It was argue that if the Amalgamated companS was compelled to reduce it's dividend or | account of trade conditions, the samr principle would hold with the Ana conda company. which is controlled bs the Amalgamated company. and upor which the latter is largely dependen for it's money to pay dividends.
 After an early rally above 93. Amal gamated. owing to the uneasiness re garding Anaconda dividend, fell below , 80. the lowest price since last spring Anaconda started with sales between 5 and 37. but later fell sharply with it associate stock.