The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1907-06-21
COPPER SITUATION A
SATISFACTORY ONE
Local Circles See Nothing to
Cause Worry I'm the Near
Future.

Local circles naturally keep closely
in touch with the copper situation, and
Il canvass through many mining offices
Of the city shows that hardly with an
exception there is satisfaction over the
conditions now prevailing for the red
metal The statistics for the first half
of the year being brought pretty well
up to date shows that the output of
copper is not so great as during the
corresponding period of last year, Utah
being one of the States whose produc-
tion so far this season is in excess of
last year. The demand for copper, on
the other hand, has not diminished in
the last. and general prosperity, it is
agreed, is still existing far out of pro-
portion to the present talk about panics
and such things.
Many can see 10 legitimate reason
why the price of the red metal should
go down the fraction of cent, They
cite the present demand for mac hiuery,
for instance, in which the red metal
forms an important part. The manu-
facturer is far behind in his orders,
while the purchaser wants his equip
ment regardless of cost. so he is the one
who pays for the higher priced copper.
Where copper is needed, the consumer
docs not balk at % OF 25-cent copper,
as the cost is so distributed that no
one person or set Of persons really feels
the drain.
Others believe that 20-cent copper is
only "a matter of few weeks. But
they sec no alarm in prices at this level,
The slow down in metal quotations has
come so gradually, and in so small a
degree, that the effect has hardly been
perceived at all. it is deemed most for
tunate, and very finely planned CAM
paign of retrenchment, should the drop
have been prearranged, that the jour
ney down hill is being accomplished
without disaster. Within a very short
time the consumer Is expected to enter
the market again for the metal and the
price of copper is expected to be main
tained, if not elevated, by this.
Taking everything into consideration,
local circles deem the situation 4 most
satisfactory one, and, as stated by tho
general manager of two great Utah cop.
per properties yesterday, "The present
condition in copper only adds enormous
ly to the already attractive character of
copper mining and milling
Apropos of the situation, the Bos-
ton News Bureau recently stated:
''The last mail in from Europe brings
interesting advices regarding the feel
ing entertained in foreign circles on the
copper situation. A careful digest Of
European opinion shows how completely
the trade abroad feels the dominating
position of this country. 1T is very evil
dent that English, German and French
consumers are waiting for America to
furnish the cue for future action, There
is good deal Of independent thought
among the foreign copper trade regard
ing the merits and position of the cop.
per market, but from the views of lead
ing authorities on the other side of the
Atlantic, 1t is perfectly apparent that
of the greatest weight indicating the
price of copper.
London has had n sensitive and huc
tuating market in standard copper for
weeks, and reports of weakness coming
from this country stimulated large spec
ulative operations. During the first half
of June standard copper never once got
up to 3l00, but at one time was quoted
as low as f95 for cash This is Sl4
the leading American producers made no
change in price all this time Europe
has been watching for the development
of an urgent demand in this country,
and as this has failed to materialiZe
lately, there has been disappointment
felt IN London. News comes from
abroad that there the opinion is that
we are drifting toward queter trade,
and that supply and demand conditions
will warrant lower prices, Foreign con-
sumers are very reserved, and anticipate
lower prices Buyers stocks are down
to a minimum and yet neither producers
nor, consumers can yet be brought to-
gether.
Domestic manufacturers show no
more inclination of coming into the mar
ket than they did month ago, and it is
not improbable that they may hold of
another month. Reports show they can t
be interested at present, and there are
no indications Of early conferences be-
tween producers and consumers for the
purpose Of opening negotiations. There
is enough cheap copper to keep up a
sort OF frlctlon III the market and con
sumers are waiting until the irregular
quotations cease and fair price is es-
tablished. -
PAYMENT ON EMMA