Bisbee daily review., 1907-09-14
BROKER SOON ID RE FORCED ID
 BUY COPPER
Cannot Long Delay, and Other Consumers Will Fol- low His Lead-SayS Price Is Not Oeterring Him Now,

Rnston.-An interest actively iden- 1ified with one of the largest selling companies in the copper industry says Reports to the contrary not withstanding. I am reluctantly com peIIed to state that copper is not yet moving in large quantity
 sOf course it does not require any great intelligence to predict that the time is gradually approaching when Mir. Brooker and the many buyers who are guided by his action. must be forced into the market.
 At the moment MT. Brooker as- sures us that it is not a question of price: he is not disposed to buy now for further delivery al any figure. He says that when the demand for finished goods looks a little better. he will then be in position to gauge his requirements of raw copper.
 When the long deferred buying does come into the market, and this may develop at any moment, and as- sume proportions seemingly larger than they really are, il will only be for such supplies as will take care of the immediate future. No large buy ing of futures need Ers expected The bAsGfS "lI PAbDaBIA NtLlIdtl IOi q sufficient amount of the metal to keep their plants running say for the next four or six weeks.
 <'Fhe copper consumer pr manufac- tnIer now has the whiphand. He knows that the producer is facing the problem of financing a steadily grow ing accumulation of copper at tinIs of severe money stTingency. while the banks are not over anxious to loan On copper collateral except of course -at pretty fancy rates
 "An of the large producing com panIes, without exception, have large amount of unsold copper on hand. amounting on the average to mot less than two months production or say 150,00O,000 pounds in the az gregate According to its contracts with the producers, the United Metals Selling Co is obliged to advance at least 70 per cent of the value of this copper, on which advances the mining companies pay per cent
 ~'Of course with it's strong interna- tional credit the Metals Selling Co is not yet placed in an embarrassing position. but nevertheless it is not altogether a pastime to arrange for
  accumulation in times like the pres ent.
 q do not recall, during the many years of my experience in the copper business, situation which paralleled the present Seven years ago, when some of the producing and selling in terests were endeavoTing to maintain a fictitious market at r cents per pound, it was a question of price. The consumer needed the copper. and We tried to make him pay 17 cents. Had We held to our course 50 days longer we would have won out, but we became frightened and down went the price with a thud
 To-day it is not a question of price with the consuming trade. They are not in urgent need of copper. and say they will buy only in sufficient amount to cover orders for manufac- tured goods. These orders are slow in coming in, and do not expect rad icaI change in the situation until we see better prospect of easier money.
 Now all this may sound strange, coming from one whose business de- pends upon good copper prices and a ..esesa demand nn4 EHhat is the of fnnling ourselves7 FnT the moment we are up against it. and in time we shall work out of it. Practically no copper has been sold since last March.
 ''I fear We were deceived as to the extent to which copper had been sold up to the first of July. Now that an account of stZck is being taken we are forced to the sad discovery that the amount of unsold copper is greater than we believed could be possible