The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1909-11-08
COPPER INTERESTS
MAY GET TOGETHER
Merger Is Unlikely, but Produc-
erS May Agree to Limit
Output.

It is admitted b. the large copper pro
ducers that a combination OF the ieadlhs
copper interests of the country Is re
mote. on the other hand, it is not de-
MED that efforts are being made 20 Gre
ate some sort of an organization, or com
munity of interests" arrangement, where-
by the copper industry in the future
can be moved along more regular hhes'
saws the Wall Street Journal copper
producers realize that in order TO pro
mote stability something of this sort VIII VIII
have to be done, and it IS because OF t.IS
concerted feeling that Wall street Is IN
clined to the belief that favorable ue-
VelOpments are pending. -.
The copper industry has been IN state
of decentralization for two years. me
steel industry has recovered all Jhat II
lost during the depression, ana oLiIe-
branches Of industry, with the eXcepIio ~ =
of copper, are thriving. ing iron anu anu
steel production was cut Gown nearly ~
per cent during the depressed perlou,
while copper production was gong on a
a record breaking pace. The result was
that when there was change LOT I1e
better in the steel industry prices fespohu-
ed. and there were no surplus stocks TO
work off.
provement in demand set in. Copper con-
sumption jumped from 90 per cent OF
normal to almost normal, out copper
prices did not respond. Stocks accuInu-
iate1 during the depression were large,
and producers seemed to strive 10 Outu"
each other in output. Inc result Wds
that consumers made no effort 70 COVE Owe
future requirements. why shOuld We
with stocks so large and production IN
creasing?" they asked.
No Merger Looked For.
No merger of the large copper inter
ests is looked for in the trade. con-
solidation of the Amalgamated Copper
company and Cole-.Ryan properties Is 81
probability but it is not believed IL VIII
be possible to merge the low and mgr
cost producers at prices that would o.
regarded as equitable to all shareholders
The Guggenheims and AmalgaInated III
terests have been mentioned as having
formed some sort Of g working agree
ment, but no confirmation of these re
ports can be obtained. Conferences OF
the leading interests have been held, bu
no Official statement as TO the outcome
of these meetings has been made.
The persistent strength of AnHalgafnat
ed and other copper stocks has been tO'
pronounced to warrant the statement tina
the upward movement has been due en-
tirely to manipulation and short covering
A representative of a large copper com
pany has the following 10 say regarding
the reports of a gigantic copper combl
nation:
Il do not believe a combination can b
effected. However, merger may grow
out of the efforts that are now beinl
made to harmonic the copper interest
of the country. Every copper produce
knows that a grave error was commit
ted in allowing copper to accumulat
during the depressed period, and viii ia
voT good plan for regulating the indus
try.
1T is simply a common sense move
Every industry is prospecting with tn
exception of copper. Review the cOurS
of the copper industry over the last tire
wears, and one is bound to come to tn
conclusion that to prevent even create
Generalization than experienced in tn
past, concerted action must be teken'