The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1908-10-23
Thursday Was Booming Day on
Markets i'm Boston and
New York.
PRICE OF RED METAL
LIFTED UP A BIT
Copper Situation Is Greatly
Improved and Bright Things
Are Ahead.

Thursday was boom day for cop
pcrs in the east, and following n big
volume of business in both New York
and Boston in copper stocks came the
nows that copper had been advanced
* cent per pound. There was all sorts
Of ''bull - talk coming across the wires
yesterday. md many Of the Utahs, from
Utah Copper on down, enjoyed n part
Of the brisk buying orders and in
creased prices. From the Boston News
Bureau the following came via the Pol
lock wires;
Boston-A leading copper inter:
est says: ''Tho elcctrificntiou of
steam roads is n prospective factor in
copper consumption. which bids far TO
assume large proportions, but this will
not be immediate. A dozen different
roads in the Unitod States are consid-
ering this matter, and the public de,
mand may force action on the part OF
railroads. before they are prepared to
take action of their own free Will, IL
is not improbable, as n result of these
developments, that we may have an.
other period of high-priccd copper,
which is not particularly desired. a
ID cent market for 4 period of years
would be TO the general liking of cop
per producers. There are TWO factors
TO be considered as to the immediate
future of coppcr-one is the business
stimulus created if Taft is elected, and
the second is the general suspense likely
to be created in business circles by
tariff agitation. It is likely that the
tariff question will prevent over-eN.
pansion of business as the result of
election In the meantime, l look for
copper to remain near the lS12 cent
level. ~
MI ro,,fl lT
contained an article treating the cop
per situation from consumer s stand
point, and in this connection is OF IN
terest. 1t follows:
"In a forecast of copper consumption,
T. V. Anthony, the English copper min
ing authority, says that since the re.
cession in American electrolytic and
lake from "a cents per pound, the popu-
lation of the eastern hemisphere has
which gain about 30 per cent is in coun-
tries that have steadily increased their
purchases OF American copper since the
decline from "a cents per pound to the
ruling rates During the height of the
late copper boom, the eastern hemis-
phere took almost onc-half of the North
American production. For several
months past the foreign consumption OF
American copper hns been running at
something hOIc lhdu oS bN' wv S1 VIZ
production.
"Local agents for domestic copper
and brass working corporations that
consume 62 per cent of the copper
worked up in this country, all agree
in the opinion that the North American,
production of copper is being worked
up as fast as it is brought TO market.
While there is nobody in the copper
working trades hereaboqts who antici-
pates a diminishing working up OF the
metal during the winter, there are
number of very large copper workers
who predict, quickening market for
wire, and sheet and rod copper and
brass for manufacturing for the spring
trade.
sEThe best informed opinion about
prices that will rule for domestic cop
Der after election is, that as it is known
that specifications will be placed for
about 50,0OO,ooO pounds Of electrolytic;
lake and casting for December and
January deliveries, it is highly probable
that lake will 90 TO 141a cents and that
electrolytic will ascend to l4@l4M