Daily Arizona silver belt., 1909-10-15
Amster Talks in Boston of Prices of Copper and
 Amount of Output
PRICE BUT SHADE
 HIGHER THAN PANIC
Should Reduce Production of Mines 20 Per Cent
 For Short Time

who has devoted much time and atten- ton to the copper situation, and has strongly advocated that the companies conserve their resources in times of business depression by restricting their output of copper, says:
 ''There is no question that there is large accumulated surplus of copper both in this country and abroad. The metal is now selling at l3 cents per pound or within l-2 cent per pound of the lowest price it struck during the panic year. Still, in the face of this, the prices of copper shares are holding firm, which would indicate that the large copper interests of the country are of the belief that we have seen our low prices for the metal and that there is a bright future ahead.
 "It is noteworthy, ohwever, that Bes- semer iron and other iron and std products are selling today within a | fraction of the high prices obtained Tn the 1906 boom; that zinc Is SID per ton higher, that lead is nearly at its top price, and yet copper, so closely af- fliated with other metals and probably the most essential metal of medern in dustrial developments, is hanging around the panic price.
 "This more than ever illustrates the necessity of graduated production oi copper based on the demand. It need not necessarily be through a pool or combination to advance the price oi copper, but merely some mutual agree ment whereby the world will be giver the copper they need and no more.
 '.The success of such a plan IS wei proven by the manner in which th' steel industry has been handled. Wher periods of depression arrive, the produe ton of iron and steel is restricted t, the demand, the consequence of whiei is thnt prices have recuperated very quickly with the return of prosperity ana une steel companies this year vii probably do the largest business in then history and show the largest profits The same has been the ease with Zin' and lead. Why not with copper9
 "An obstacle to the regulation ol copper output has been the two or three low cost producers who claim that they can produce copper and make gooC profit at the present price. This argu ment, in my opinion, is unsound because these companies are depicting thei mines at a rapid rate and only securing half the net profit they should get | production was regulated.
 aThis country is the home of coppe production. All of the other countrie combined do not produce over 20 pc cent. of the world $ output. It behoove this country, therefore, to look for ward to preserving it's copper deposits which it is not doing. There has beer great agitation on the part of botl government and Individuals toward re strieting the deforesting of the coun try, but the useless waste of the coun try's timber resources is no worse thai the useless waste of its copper resources You can plant new trees and ill time SC cure another supply of timber, but yo' cannot plant copper ores, and once cop per comes out of the ground, 1t IS for ever out.
 "Take, as an example, one of th' large porphyry copper companies who's property is estimated to cont in 40, 0O0,O00 tons of available ore. Thes deposits are in lenses and the limits arr absolutely known. This company now mining at the rate of 3,O0O,O0' tons of ore per annum which means life of thirteen years. This partieula property which I have in mind is un necessarily depicting its resources an' the other mines are doing the same.
 CT do not deny the fact that thes low grade porphyries are valuable, fo they are; but why endeavor to exhaus them in the quickest time possible?
 "From my interviews with coppe people and my close investigation in thi country, I find it is the opinion of thu best copper people among sellers, con sumers and producers, that slacken ing in production on the part of tn large mines of 20 per cent. for three Q four months, would result in an ad vance in the price of copper of at lcas two cents per pound. Such an advance would not hurt the consumers and thu producers would benefit, first, by the lar ger profits and second, by conserving thier resources.
 ''This regulation of production to sui consumption has been talked of for ; long time, but to my mind it is bound to take place, and now more than any other time is. the opportunity for sucf action, because 80 per cent of the pro duction of copper in this country il controlled by five groups of men, anc I believe that these interests are more alive to the necessity of regulation thar ever before
 "The consumers in this country ar' today only buying copper on hand-to mouth basis, because, as one of th' large consumers recently told me, why should they stock up with the meta when they know that there is large ac emulation and no efforts are being made by the producers to restrict pro | duction so as to wipe out the accumu lated stock9
 "It should be apparent that if tho producers would stop robbing theil