Daily Arizona silver belt., 1907-06-07
LARGE PRODUCERS
 ID REMAIN FIRM
Walker Says that Big Copper Metal Selling Companies Will Make No Con sessions to Consumers-25H Lowest They Will Make for Electrolytic.

George l.. Walker says in his letter in the last issue of the Boston Commer cial, regarding copper prices
 The much anticipated resumption of activity in the metal market has so far failed to materialiZe. The larg est producing and selling interests are maintaining prices, asking 25ha to 20 cents for Lake and 25A cents per pound for Eleetrolytic. 1t seems that prac- tically all of the copper which will be ready for delivery in June was sold last March. Since the close of that month total of only a very few million pounds has been sold About two weeks ago 100000 pounds of Electrolytic was sold for 25h cents. Some of the lead ing producing interests declare that they do not expect consumers to come into the market as buyers for two or three weeks to come. Consumers gen orally are supplied with copper in sui fieient quantity to meet their full re- quirements up to the end of June and, with present uncertainty prevailing, they will not buy again until they are obliged to.
 The United Metal Selling company will continue to refuse to sch July cop per for lower prices than those quoted at the opening of this letter. That com pany is not buying copper to support the market, but its manager, U. H. ,5 F.. L, atr ,.I, T vising the producers whom he serves not to offer down the price of copper until they have some to sell. The Sell ing company is still behind in making deliveries on some of it's contracts, and therefore the management sees no cause to name lower prices. There is the best reason for the belief that Phelps, Dodge & Co.,, Calumet & Hecla, Quincy and the Stanton interests are all taking precisely the same attitude as that maintained by the United Metal Sell ing company. With these important producers working in unison, there will be sane and sensible handling of the market
 Leading producing interests display no uneasiness because of the present halt in business. They say if they were to sell no copper until August l, they would on that date have only one month s production on hand, and they declare that conservative business pol icy demands that they have as much as this on hand in order to conduct sell ing operations properly. So far as can be learned, the reported offer of Flee trolytie copper at 24 cents per pound has string attachment. No one can be found who knows of any sales be- ing made recently at that price.
 Two of the leading producers and sellers of copper declare it their honest opinion that the present generation of business men will never again have an opportunity to buy the metal in quan- tity at as low price as l5 cents per pound. The rapid growth of electrical business in hundreds of different diree- tions, the steadily increasing use of brass in building, ear construction and elsewhere, the more general use of cop per for roofing, notwithstanding current high prices; and the rapidity with which electricity is being introduced to super cede steam in the operation of suburban railroad trains, tend to justify the con fidence expressed. The prediction is made that ten years hence all subur- ban trains will be run by electric power.
 The pessimistic, or bear, position on the metal market is expressed as fol lows: All steam and electric railroad extension must be discontinued as result of the inability of corporations to market new securities and finance a broader scale of operations. As a re- suit of this these companies will dis continue their heavy consumption of copper, and when the brass manufac turers, wire makers and other consum- CTS come into the market again their purchases will be in greatly reduced volume. This means that the price of copper must be marked down several cents per pound between now and the end of the year. We have been going too fast, and we must prepare for the natural reaction. Business depression will be felt keenly within one year from today"
 A careful investigation of metal mar ket conditions leads to the belief that the price of copper will be maintained at the present level during July, and probably during August. If there is a decline later in the year there is no reason for believing that the price will be cut below 20 cents per pound, even f as low as that.