The copper era., 1907-08-15
Optimistic is the View of Amster.

Boston-President N. L. Amster, OF
the Shannon, Arizona Commercial
and Boston & Corbin properties. says:
During the past few days 1 have
taken pains to interview some of the
largest producing and consuming in
terests in the copper trade in an en-
deavor to inform myself accurately
concerning the copper situation. As
result of my Investigations am led
/ to the conviction that at the present
per has slackened up bit, the de-
crease is fully compensated by the
declining production. Butte and Bis
bee, two of the greatest copper
camps in this country, are today con-
siderably behind in their output fig
ures of a year ago.
There seems to be more appre-
hension regarding the stability of
the copper industry than is warrant
ed by the facts. 1t cannot be denied
that copper is accommodating in a
small way in the hands of the pro-
ducer, but this situation is met by the
poverty of supplies in the hands of
the manufacturer. The accumula-
tion of surplus stocks, concerning
which so much is heard' is no more
than would ordinarily be carried by
the consuming interests, but today,
instead of the. consumers carrying
their stocks, the producers them
selves are carrying them.
"The greatest bugbear that exists
today is the uncertainty which exists
in the minds of the copper buyers as
to whether or not, having made a
good-sized purchase of copper, the
producing interests will protect them
by refusing to make sales at low
prices later on. The copper Consum
ers are today more anxious to see a
sta BILE market at Is cents, at 20 cents
or even at % cents that they are to
see huctuating market from 20
cents down to l5 cents and back
again. One of tt e largest consumers
in this country told me last week
that he was perfectly willing to buy
copper in large quantities at 20 cents
per pound or even at higher figures,
providing the producers would stand
together and not later on demoralize
the whole situation by naming low
er figure to some one else.
"There are several important fac
tors in the copper situation which are
not generally reckoned with. In the
first place, it is costing anywhere
from l cent to ; cents per pound
more to make copper than it did FIVE
or six years ago and furthermore the
great producing mines of today are
steadily exhausting their under
ground supplies, their raw material
as it were, and the producers of the
metal are today justly entitled to de-
mand at least cents per pound more
for the red metal than was the case
fiye or ten years ago.
1.-The great Calumet q Hecla is
each year making hole in its under
ground territory equal to about 49,
600, 900 cubic feet. They have a just
right, as have all the other produc-
ers, to seek compensation in the re-
fined copper market for the exhaus-
tiOn of their underground assets.
Copper should not be considered
as one of the base metals. 1t is in
appearance, in conductivity and
ductility, second only to gold and sill
yer, and therefore 20 or even % cents
a pound for the metal is by no means
too high for it. Copper plays a most
important part in the worlds civiliza-
tion. What would the business world
do for instance without the telegraph
or telephone or the transmission of
power or intelligence by electricity:
'The copper situation is not going
to the dogs by any means and while
monetary conditions may for the
time being, operate to lessen the
ability to fiGance new construction,
this situation will be rectItied in
course of time and the consumption
now deferred by reason of high
money rates will come into the mar
ket with a rush"