Arizona republican., 1902-01-05
POOL SCHEME
 FOR COPPER
Amalgamated and Other In terests Considering the
 Question.
The Last Reduction by the United Metals Selling Company to Force the Independents Into Line.

New York, Jan. 4.-The copper sit uation is still unsettled, but the con ditions ruling are yesterdays figures, and sales are being made at that. Lake Superior is quoted S12.5O. electrolytic at SIP and castings at $11.50.
 It has been learned that informal conferences have been held by Amalgamated copper interests and certain independent copper mine owners, at which the question of forming a pool to regulate the output of copper and govern prices was dis cussed. No concerted action has been taken as yet. and nothing definite has been accomplished so far as an agree ll'ent is concerned, but it is believed | Vat the informal negotiations now go- 1 lhs on will lcttd. to something tangi- ble before a great While
 1 Tn, main object of the Tnited Met als Stlling company in making drastic cuts iIh the price of copper is to show i the Independents who have been under- sellingis the error of their way and try to bring about pooling agreement. | The Aynalgamated copper people de- 1 clare they have gone into the fight to win, and the stand they have taken leads many to believe that they will continue to put down the price of cop
 
 ing with th,: Independents is reached The Amalsalp patei Copper company. with the backing of the Standard Oil people. and it's, alility to produce cop | per at low cos lis in a stronger posi- ton to enter into a trade war than many of its big competitors.
 ! Many Of the independent producers think there is no prospect of an imme- dlate settlement of the war. and that the United Metals Selling company | will establish still lower basis for copper. There are not a few brokers; who look for lower prices before the close of the coming week.
 The quality of copper that is chang ing hands at present quotations is in l significant. The successive cuts of the Amalgamated Copper company's agents have given rise to the belief among consumers that they can get copper much cheaper by holding off. and this accounts to a large extent for the lack of demand. AOp he other hand there are q number ioT copper compa- nies that have withdrawn from the market rather than dispose of theil. quotations fixed by the United Metals l Selling company.
 The latest gossip in Boston Tn rela- tion to the copper war is that J. P.  Morgan S Co. will form a copper com binc, modelled along the lines of the United States Steel corporation. The story IS said to be untrue by interests identified with J. P. Morgan & Co.
 According to Boston advices, the United Metals Selling company paid dividends of l5 per cent on capitaIi- zation of $5,Oo0.OO0 last year. but no payments have been made this year. and none are expected.
 The decline in copper mining stocks that began with the assassination of President Mckinley, and received re- newed impetus when the Amalgamated dividend was cut three months ago. has reduced the selling price of copper stocks overS20O coo. 900. This has placed the large producing companies at a level where they could possibly be in duced to go into combination at prices that would represent intrinsic Values and be free of water