Weekly Arizona journal-miner., 1907-08-28
THINK COPPER WILL STOP AT IS
 CENTS.

Reports to the effect that reduction in tho price of copper Co 14 cents per pound Is imminent are being given cir. culation in Boston and New York This reduction |, declared Co hang on thc decision of the Calumet & Hccla as to whether or not it will join in m attempt to maintain tho price of the metal at 20 cents per pound.
 Reports of this nature are unneccs. sarily alarming; they have no basis in fact. The United States Metals Selling Co. and Phelps, Dodge < Co.,, as well as the other selling interests in New York, know full well that any effort to secure the cooperation of the Calumet & Hccla in maintaining any price what. soevcr for copper will be fruitless. Recent ovcrturcs to this end have already been made, and the response has been that the Calumet would con. tinue to pursue n policy of absolute independence.
 As to the price of copper; There is no quotabla price, as the consumers arc not buying. They believe that they arc now the dictators of the situation and can well afford to wait until a more pressing demand for finished goods demands n replenishment of their stocks of copper. They arc not likely, therefore, to enter the market in q large way for some weeks.
 Calumet may bc depended upon to do nothing to unnecessarily jcopardizc the copper situation. For the present that company is disposed to pursue n waiting policy and sec what the next two or three weeks will bring forth. It is just as strongly opposed to metal market Additionally low as fctitiously high. This company did more to pre-. vent n wild stampede on the part of copper consumers around % cents per pound and bring about n safe cquilibri. um as between buyer and seller than any other interest, and it's present pol icy is to move cautiously with due re- gard to both the producer and con. sumcr.
 One of the leading copper men, now in Europe, remarked before he sailed abroad about month ago, that if tn, price of copper should go to IS cents the consumers would, in his opinion buy every pound in sight at that price the same ms they did at l1h cent, when the price dropped from l7 cents In his, opinion, under the present status of the copper trade and genera prosperity, price of IS cents woul, now correspond to llia cents of few years ago.
 | There is talk in certain stock mar ket circles of copper going to l2 cent per pound before the tide turns, bu in the opinion of the best posted cop per people in the United States, tn price will not break IS cents, if i gets as low as that.
 One we'll posted copper man says "I anticipate large sales of copper oI the basis of 20 cents per pound. Thi is n price that should meet the view of both producers and consumers.
 "Thc big consumers do not desire C see copper prices cut wide open. I'm .u,,a sha lns..a tho A ,oo.;,au nr.a. 1, sustains with n cut of five cents pc pound in the price of copper. Thi company has seven mills which con sume 5,0Oo,OOO pounds of copper pc week, and it necessarily has to have
 considerable surplus of copper on nan
 all the time. 4 Hvc-ccnt cut is cqua
 to s250,000 per week upon its coppe
 supplies which has to be charged of
 "The producers have to protect thel
 largest consumers. Twenty cents DC pound for copper would in my opinio ] suit all interests, but it Is possible 'hs some of the outside interests woul force copper on tho market below th price, so I would set IS cents as th limit of any price reduction during ,h next few months.
 "I understand that Calumet & Heel l have been making sales of the meii l abroad below their recently establisho , price of 23 cents"