Bisbee daily review., 1908-01-12
WANT COPPER
PRODUCERS
TO COMBINE
Plea Made BY Those Whose
Production Cost Is High For
Others to Join In Restricting
Output.
lBoston News Bnreau.l

Boston News Bnreau.)
There has been much discussion in
copper circles concerning the wisdom
or lack of it, in seeking the general
cooperation of copper producers all
over the country in the policy of a
restricted output
In view of the great increase In
late years in the cost of producing
pound of copper-at least three
cents-as compared with conditions
prevailing ten years ago, it is held
by some that a cooperative policy
should govern the supply in order to
prevent over production in time OF
INSTRUMENTATION"
The low cost copper mines take the
position that the natural operation
of economics laws should govern, and
that they should not be expected to
acquiesce in any plan of restricted
production which would enable the
high cost mines to make profit i'm
possible with the metal for instance
at l cents per pound They say they
are not disposed to sacrifice them
which unfortunately is so situated
with respect to natural conditions as
TO make profits on II or even 13-cent
copper distressingly small.
In conversation with one of the
ablest copper men IN this country he
expressed himself forcibly as follows:
Il notice that the cotton manufac-
turers have recently come to the con
clusion that the amount of cotton
goods coming TO market has of late
exceeded the consumptive demand.
What do they do They caE a meet
ing of the mill treasurers and suggest
that a 25SS certailment OF production
would be mutually advantageous. No
questions are asked as TO what mill is
showing the lowest costs, but by
unanimous consent there is adopted
a plan whereby the outgo of cotton
goods may be brought into such reg
ulation with the demand as viii lead
to fair manufacturing profit in
the meantime a glut of over poduc-
ton prevented.
III suen a policy is wise with re-
spect TO cotton goods why would 1t
not be equally advisable with respect
to copper? The very nature OF the
copper mining business should make
this not only wise but imperatiyely
necessary and for this reason: Cop
per unlike cotton, is not produced by
cropping yea after year. Every
pound of copper that is taken out OF
tho ground to that extent exhausts
the mines assets 1t can never be
put back.
The wise mine manager would es-
tablish a sinking fund in the form of
an annual charge to be made against
profits to represent the deprecated
vale of the property as measured by
the exhaustion OF its underground
values
1t is absurd to continue the ex-
haustien Of your reserves when cop
per is selling at a figure which means
patty one or two cents per pound
profit But the average stockhoIder
demands that his property keeps on
exhausting itself BY cooperation
among all the large producers such
selling price could be established as
would bring no hardships to bear
upon the manufacturer and yet would
SO conserve the underground reser-
voirs of copper as to make them mar
ketable at very profitable figures.
"The wisdom of curtailing the man
ufacture OF goods from staple which
reproduces itself year after year,
therefore applies with special force to
copper. Copper will not rust in the
ground; it does not depreciate vita
age; it is where It can be called forth
whenever market conditions and the
vicissitudes of trade demand it.
"AIl things considered. therefore, !
believe the low cost mine as well as
the high cost producer has much 10
gain by conserving its underground
wealth, and not sacrificing it on
market burdened by millions OF
pounds Of Improbable copper produc-
ton"