The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1907-07-17
COPPER PRICES
SOON TO BE
DECIDED

tFrom American Mining Review.)
Because of a feeling of uncertainty
respecting the immediate future price
of copper, an enormous amount of
new business is being held up Con-
sumers still refuse to order wire,
tubing or other forms of manufac-
tured copper until they get some line
on what the future price of the metal
is to be. Just as soon as prices are
fixed for the coming three months, or
better still, for the next six months,
an immense volume of new business
will be in order. The eyes of con-
sumers are momentarily centered
upon Mr.. Charles F. Brooker, whose
annual purchases amount to more
than one-fourth of the country's en-
tire production. Mr.. BROKER is
president of the American Brass COM
pany, which consumes about two
hundred and fifty million pounds of
copper year, more than the entire
output of the Lake Superior mines.
This company decided some time ago
| to build large brass manufacturing
| plant near st. Louis, Mo-, involving
an expenditure of between three mill
ion and four million dollars. When
signs of a business reaction manifest
ed themselves, the question of de
laying the construction of this new
plant was brought up, but the direc-
tors have unanimously decided to
proceed with it.
An Interesting Statement.
A prominent Eastern copper pro-
Queer, whose affiliations are with the
United Metals Selling company, gives
out an interesting statement, printed
in New York and Boston papers, from
which what follows was taken:
THE present situation in copper is
most peculiar. The producers, and
mean, of course, only the larger ones,
could not sell pound of immediate
! delivery copper should they receive
orders for it, and, in fact, could not
make deliveries before the 18th of
July in view of the great variety in
shapes and sizes which the consumers
are now demanding. The producers
have not a pound of copper and the
manufacturers are threatened with
shutdown of their plants if they do
not Immediately take on new sup
plies, and, strange as it may seem,
the producing interests are holding
their heads in their hands in great
perplexity as to the size of the con-
cession to be made. If ! owned the
entire capital stock of the copper
mines in which / am interested, !
would stay out of the market for six
months and allow my copper to ac-
cumulate In other departments of
trade, the producers are always car
rying a surplus stock, but in respect
of copper all of the ordinary methods
of doing business seem to be set
aside. Just why the producers of
copper should be considering a price
reduction in these times of depleted
stocks and an active consuming de-
mand all over the world, demand
which surpasses the productive ca
pacity of the mines, is beyond my
comprehension. There can be no
question but that in the economic de-
velopment of the world, in which de-
velopment electricity plays most
important part, the demand for cop
per Is increasing faster than are the
new resources of supply. Copper has
been selling at twenty-five cents be-
cause the world demanded 1t and
could profitably manufacture it into
various forms at that figure. That
same demand exists today, although
the consumers are fighting hard to
make the world believe otherwise"
Mr.. StantOn's Views.
Regarding the copper outlook, Mr..
J. r. Stanton is quoted as saying that
there is no basis for the reports that
leading copper producers have been
cutting prices, and adds: The mar
ket is at standstill for the reason
that consumers are not in the market
as purchasers; and producers are
selling nothing under present official
quotations, which range from rs lie
to zee, and about 25 lac for electro
lytic. We will not be able to deter
mine the course of the copper market
until consumers come in as pur-
chasers. There have been no recent
conferences of either consumers or
producers. Producers at least will
act independently in matter of ad-
justing prices. The situation is as
strong as it was year ago from
standpoint of production and con-
sumption. There is no reason in the
world why prices should decline.