Bisbee daily review., 1907-09-08
NJ INCREASE IN PRODUCTION
 THIS YEAR
Walker Also Thinks There Will Soon Be Heavy Sales of the Metal at 18 Cents Per Pound,
Geo. L. Walker i'll Boston Com
 meTcial)

mercial.)
 It Is now expected that the dead lock In the copper market will come
 to an end very shortly with the an- nouncement of a very large sale of copper at a price which will not be below a basis of IS cents per pound for electrolytic copper The leading
 producers state positively that when
 the new basis of prices is settled it
 will be maintained at that Ievel sor some time to come. There was a con-
 siderable increase in the inquiry for i copper during the week past. and a
 number of the large consumers are
 now ready to negotiate for their re. | qulrements over the end of the year.
 Tt seems to be certain now that the production Of copper for North America for 1907 will fall at least 5 | per cent below that of 1906 Some 1 producers estimate that the decrease In production this year will be nearer 1 10 per cent.
 The following view of the difficult ties facing the producers is given by one of the foremost men in the cop per mining industry, who has recentlv returned from an extensive tour of observation throughout the west He said: The northwest southwest. Utah and Colorado territories will suffer from a general lack of trans portation facilities on the part of the railroads to supply fuel.
 Tn the northwest and middle ex- treme west this condition will be ag- graYated from the middle of SeDtem- Der, owing to the fact that the rail- roads within a period of six weeks will have to move the entire beet sugar crop. In the case of the Ore Son Short Line 120G0 carloads of sugar beets will have to be moved. putting out of commission 800 to 600 cars which ordinarily are used in handling the coal output.
 Tn the southwest, in addition to the lack of transportation facilities. there is a general shortage of coal and coke supply. In the middle ex-- treme west, taking Utah as an exam pie, large portion Of the ores which furnish the reduction works neal. Salt Lake city come from Bingham canyon and here at the present, even when conditions are at best, the Denver and Rio Grande Western rail- road is showing it's inability to handle the output
 
 shortage of fuel in the southwest, the lack of transportation for the ores, combined with the fuel shortage in the extreme middle west. and the gen. eral shortage of fuel and transporta- ton in the northwest, I believe that the output in pounds of copper for 1907 will be at least from 5 to 10 per cent below that of 1906'"
 The decline in the copper stocks has halted during the past week. for the reason that there was nothing more ,or 1t to feed upon. The liquidation las been drastic and thorough Brok- 7Fo UTITC1s are dTmUSI pare or mar siEfGG cGPPeTs. Stocks have been hrown over recklessly, some through and others through fear. The continued unsettled condition of he metal market and the weakness ,f the general stock market are re- ponsible for the failure of the public O purchase coppeTs to any large ex ent on the decline. The money mar ret has been such that it has been aI- most impossible to. borrow money on 'oppers, and purchases of the latter lave been confined largely to those Vho could pay cash.
 Only one company, the Quincy, has CudNCu ALo rate as yet. nat company was distributing a larger of it's earnings than most ther companies. There may be a few ther reductions, but these will not 'e important. and have been fully dis counted in the present prices of tocks.
 The coppeTs are selling now consid- rably below the level prevailing when Opper sold at IS cents before the ad- ance. The technical position of the market is stronger than it has been or very long time, and believe that urchases of the good copper stocks ow by such as are able to finance hem will show large profits as soon S the general market conditions i'm rove.
 It is impossible to assert that stocks re on the bottom, but if they are not hey are so near it that no holder need orry about any farther decline.