The Butte inter mountain., 1902-06-20
FOURTEEN CENT COPPER
-CUDDIHY PREDICTS
Banker OF Calumet Detects Bullish SEN
tinent in Market Of Red
Metal

Butte people will find of interest the
opinions of Banker John d. CudIilv of
lionehton, Mich, published in the Mining
Gazette OF that place. He has ius, re-,
turned from Boston, where he studied the
copper situation.
Copper will he selling ut II cents in.
SIDE OF two months" said Mr.. Cuddibv
hat is the general opinion in the 6uan.
eial circles in the East and every Hos.
ION financial man who knows the conner
situation at all says there is not much
question about it,"
Mr.. Cuddihy has just returned from
visit to Boston aud other Eastern cities
ana "hilc III the copper financial center
III Massachusetts he took considerable
pans 10 give the copper situation attcn-
ton.
YES, ! firmly believe copper will get
TO ~ cents this summer, and that il will
stay at just about that price, which the
people best posted on the copper situation,
consider would be for the best interests
OF the mines generally.
When the figures are looked into
closely do no, see how any one can size
up the situation differently. Here is the
situation in nutshell: The exports from
tins country from January to Nav
were I5I,336,ooo pounds. and from Nav
TO May IS there were 1906 600 pounds.
Add these together and you have I6a.S4r.-
GOO pounds for the first four months and
a half OF the present year. These figures
are Official and cannot be disputed. At
this rate the average expectation each
month amounts 20 $1,000 900 pounds. This
runs TO 44l.ono.ooo pounds year at the
present rate of eSportaiion. This is an
enarmous increase over what il was last
year. From January TO May IS of last
year the expectations amounted 10 hut
d7.475.ooo pounds.
Ohm Stanton says that the domestic
consumption now amounts to 10000 900
pounds q month. His figures are as near
correct as can he secured and are gener-
ally considered about right. Taking Stan
tons hgres OF 5o,ooo,ooo as the domestic
consumption Tor one month, we have ST.
100000 pounds per month being con-
sumed. This makes the total consumption
for year amount 10 i.ol+,ooo, 900 pounds,
figuring at the present rate OF consump-
lion.
Last year the entire American pro-
duction of copper amounted TO 6oa 200. 900
pounds, just little over half of what the
consumption ought to be at the present
rate In 1901 the production amounted to
Dol 100000 pounds the year before It
ran 10 5S2,ooo,ooo pounds, in 1903 it
amounted TO 53o,ooo,ooo pounds and in
1907 it was SOL 900 900 pounds. Last year
before the figures came out it was be
lieycd that the production would be Won
derfully increased and big increase was
looked Tor from this section. Now the
same story is circulated in some quarters
but think that il you put the increase
this year at 25o,ooo,ooo pounds you are
giving It plenty Of leeway. Some of the
mines are not going to produce as much
this year as they did last.
Now. with a possible production this
year OF 627,ooo, 900 pounds and a consump.
ton OF I,o4l,ooo,ooo pounds. something
must move. The surplus must disappear
il there is any, and copper must advance
IN price. The figures cannot be dispute,
and do not see how the price OF cope,
is going to remain below IL cents under
Such cODlitiouS