Bisbee daily review., 1907-08-14
l4-CENT RUMOR IS WITHOUT
 BASIS
Hint That Calumet & Hecla Would Soon Smash Market Absurd on Its Face-Sta- bility Is Essential.

Boston to the effect that I4 cents per pound is imminent are being given circulation in Boston and New York This reduction is declared to hang on the decision of the Calu- met & Hecla as to whether or not itI will join in an attempt to naintainI the price of the metal at 20 cents per pound
 Reports of this nature are unneces- sarily alarming: they have 10 basis in fact The United Metals Selling Co. and Phelps, Dodge & Co.,, 9s we'll as the other selling interests in New York. know full well that any effort to secure the cooperation Of the Caiu- met & Hecia in maintaining aity price whatsoever for copper will be fruit less.
 Recent overtures to this end have already been made. and the response has been that the Calumet woFld con tinue to pursue a policy of absolute independence. a
 As 10 the price of copper: There is ID qnotable price, as the consumers are not buying. They believe that they arc now the dictators of the sit nation and can well afford to wait until a more pressing demand for fin ssshea goods demands a replenishment Of their stocks of copper. They are not likely. therefore, to enter the mar ket in large way for some weeks.
 Calumet may be depended upon to do nothing to unnecessarily leopard fzc the copper situation. For the present that company is disposed to pursue a waiting policy and see what the next two or three weeks v'ill bring forth. It Is just as strongly op posed to a metal market ficthiously low as fictitiously high. This com pany did mere to prevent wild stan pede on the part of copper consumers aro5tnd 9 cents per pound and bring about a safe equilibrium as between buyer and seller than any other inter est, and it's present policy is to move cautiously with due regard to both the producer and consumer.
 One of the leading copper men, now in Europe remarked before he sailed abroad about a monthago, that ii thc price of copper should go to IS cents the consumers would, in his opinion buy every pound in sight at that price the same as they did at II 1-2 cent; when the price dropped from r cents
 In his opinion. under the present status of the copper trade and genera prosperity, a price of IS cents wOult now correspond to II 1-2 cents Of few. years age.
 There is talk in certain stock mar ket circles of copper going to 12 cent per pound before the tide turns, bu in the opinion of the best posted cTr per people in the United tates, Ib Drfcp will not break IS cents, if sets as low as that.
 One well posted copper man says --T anticipate large sales of copper ol the basis of 20 cents per pound. Thl is T price that should meet the view of both producers and consumers:
 "fhe big consumers do not desir to see copper prices cut wide opeI Imagine the losses the AmeFlca Brass Co. sustains with cut of hN gents Ter pound in the price of COT Eper. This company has seven mill wbfcb consume 100000 pounds copper per week, and it necessaTil has, to have a considerable surplus .coppeT on hand all the time. A fiv' ,cent cut is equal to S250,CGO ner wee upon it's copper supplies which nas be charged off, g
 "The producers have to protet their largest customers. Twenty ceni per: pound for copper would il m opinion suit all interests, but is
 possible that some of the outside Il tefests would force copper on th market below this price, so 1 Woli set IS cents as the limit of any priC reduction during the next few month
 q understand that Calumet & He Ia have been making sales of IT
 metal abroad below their recently tabIished price of g 'cents.'
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