The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-02-13
UTAH COPPER
IN FINE SHAPE
Manager D. C. lacking Re-
turns With Optimistic Views
on Finance and Copper.
WHY BOND ISSUE WAS MADE
COMPANY NOW READY TO EN-
TER ON DIVIDEND CAREER.

General Manager D. c. Jackling OF
the Utah Copper company returned
from his eastern trip Tuesday night,
and declares that he is glad to get back
home He was laid up with cold for
about ten days and says that the At
lantic seaboard climate gets him every
time he goes there. Touching on con-
ditions, financial and industrial, in the
east, Mr.. Jackling talked encouragingly.
There is no question" said he, but
that the financial situation is clearing
rapidly and it is just as true that bus
mess and industrial conditions are I'M
proving, and have been since early IN
January, but not as rapidly, of course,
as in the financial or money channels.
Business is picking up and manufac-
tuners arc gradually recruiting their
forces. 1t is my judgment, however,
that it will be several months before
normal conditions in trade prevail
again.
Copper Will Not Go Lower.
1.-THE copper metal situation, as far
as 1 was able TO Judge, is in pretty
good shape and should improve from
now on. The curtailment of production
inaugurated last fail and early winter
is only Just beginning to have its eff
feet. 1t is several months after cop
per is made before ii becomes absorbed
The trimming of production from 40 to
60 per cent several months ago will be
more keenly appreciated during the
next two or three months than IL yet has
been, because the marketing of the
usual output previous to the curtall-
ment, is now about at an end. Europe
has been taking most of the copper sold
during the past three months and the
demand abroad continues normal Now
that business is beginning to pick up
again in this country, there will be a
gradually increasing demand for the
metal at home and the supply VIII be
limited. / do not believe, under these
conditions, that we shall see much cop
per sold under lac and, as the year
grows older, / look to see the metal
selling a cent or two higher. The ap-
prOaching presidential campaign is
bound to have a disturbing effect on
business, but everything has been at d
practical standstill so long that bus
mess cannot be tied down for a much
longer period.
Why Bonds Were Sold.
"There is plenty of money in the
country seeking legitimate investment
and that it comes out quickly when the
opportunity offers was illustrated in the
ease with which the Utah Copper COM
pany placed its bonds. And let me say
that the money thus obtained places
the company in splendid shape when
the shareholders may begin participat-
ing in the earnings of the company. By
the middle of this year I expect the
company to be producing copper at the
rate of 5000, 900 pounds per month. 1t
takes approximately five months to
realize on copper produced by mining
and milling company and, during all
that time the &c or sc pound or the
actual sum required TO produce ii, Is
tied I'D. With an institution like the
Utah Copper company, that means a
great deal of money. 1t means that,
with business in fun swing, we shall
have in the neighborhood of N,25O,OOO
an tie time represented in copper pro-
duced and unsold. That is the prin-
cipaI reason we had for issuing bonds.
1t was necessary to have working
capital.
Ready for Money-Making Career.
Everything at the properties is run
ming splendidly. The ninth section OF
the mill will go into commission during
the next week or ten days. and the re-
naming three sections will be finished
and placed in commission within few
weeks. We are then IN posluoh 10
saw that our constructive period has
been rounded out, and that the real
business of making money is in full
swing. On the mine end everything Is
now in shape for any and all demands
that may be made upon tine ore bodies
During the past few months the steam
shovel pits have been opened up ana
the big machines are doing all that is
required of them. When the CARRIED
mill is running at capacity there VIII
be nothing to 1t except the reduction OF
ore to concentrates and the marketing
of the product. / cannot say when the
mill will have another unit added to IT.
That, I presume, will be governed Dy
the demand for copper and the price OF
the metal; but l can say that IL VIII
not take long, nor a great deal of eX-
pense to add 40 per cent TO the capac-
ity of the plant as 1t stands today. we
have everything ready now with the
exception of the buildings and extra
quipment."
NrMrnAI EMNIkICEOIMG IN