Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-07-31
COPPER MARKET
IS UNCERTAIN
Metal AccumuIates While Large
Buying Orders for 1t Are
Exceedingly Scarce.
REFLECTS ON STOCK MARKET.
Too Much Optimism Has Been Dis
played by sellers as TO Trade
Conditions.

The uncertainty about the future of
the copper market was reflected in the
stock marke, today and the belief is
growing that n further cut in the price
of the metal Is inevitable and that 1t
will not stop until 1t settles somewhere
around is cents pound again. Evil
IDENTIFY the cast is pretty well worked
up over this situation and the bear ele-
ment in the stock market is using this
weapon to depress prices.
The Boston News Bureau. according
70 special received over the Pollock
wires today, comments on the situation
as follows:
"Chaotic conditions still characterize
the market for copper. There is abso-
lutely no sign of any large buying
movement for future delivery and the
consumers, large and small. are stu
feeling their way along cautiously and
buying only from day to day in suffi-
silent quantities to keep their plants
employed on such orders as are re-
oeived. The market for manufactures
goods, into which copper enters, is al
so more or less demoralized The man
ufacturer is asked to quote prices on
wire and brass goods for delivery next
January, but It compelled TO confess
his inability to name figures. owing to
the uncertainty existing with respect
to the price at which he will be able
to buy his raw material-copper.
HoPELESsLY IN DARK.
An interest affiliated with the United
Metals Selling company and who Keeps
as we'll posted on trade conditions as
any man in the business says: I'VE are
hopclessly in the dark with respect TO
the copper outlook. The metal is be-
ginning to accumulate in the hands OF
producing interests and 1t is difficult
at the moment to say at what figure
large quantities can be moved. j hear.
although | have not yet been able TO
confirm the report that Calumet and
Heca has made another cut In It's
price II is absolutely absurd TO try
and tempt buyers by making cut OF
a cent or two in the price. That only
acts to make them more stubborn in
the hope that II they refuse to buy, the
producing interests will make a still
further concession. That is human ma
ture.
SELLING IN SMALL WAY.
''The United Metals Selling company
is not selling copper except in small
way, II Is taking no large orders for
future shipment and orders are being
received to postpone deliveries. All OF
the large selling interests are now
virtually at the mercy of the small
producer. who, to meet his pay-rols Is
obliged to sell copper II not at one
price, then at another. He new makes
the market for all of us. The United
Metals Selling company has not made
any further reduction from the fgures
Il named soon after Calumet made Its
Scent reduction. OF course, II Calumet
names still lower price. the Metal
Selling company will be obliged to
meet Il in order to do business. II the
Calumet would only name figure at
which 1t could negotiate large sales, we
would all then know where we stand.
GAS II is, the policy of making n
concession OF n cent or two Is de-
moralizing In the extreme. demornllzing
alike to the copper selling trade and the
consuming trade, as II upsets prices
scheduled along the line"
Il fear there was a little too much
optimism displayed by the copper sell
ers as to trade conditions. Business
conditions in lines associated with cop-
per have fallen away considerably"