The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-05-17
SOME REASON FOR
A COPPER TRUST
Would Allow Permanent Level
and Do Away With the
RuinOuS BO0mS.
BUT THE INDEPENDENT
PRODUCER WOULD SUFFER
Good and Evil of Combination
Discussed in Mining Paper
of West.

Efforts 20 regulate the copper industry
in America by consolidation are reported
TO be under way. The situation OF the
copper miners and smelters has been In
some respects most unsatisfactory. says
tho Mining and Scientific Press Tho high
prices which prevailed for period
aroused unwarranted hopes. This led to
the opening OF host OF new mines. and
TO enlargement OF plant and equipment
At the older properties, so that In the
aggregate a poteutlality far in excess OF
commercial requirements was created
Suspension of operations is always dis
astrous, not alone from the sacrifice OF
returns on Invested capital, but from de-
tcTioration of plant and injury Ia mine.
II means loss of money TO shut down. and
II also involves heavy continuing eXpendi-
tUre. y close association OF the copper
producers for mutual protection seems
necesstated, The logic of circumstances
points IN that direction.
w, f. Corey Is now said to be engaged
in forming a combination for this pur-
pose This would indicate the possibility
OF cordial understanding with tho
United States Steel corporation. Whether
such community OF interests would prove
general benefit is worthy of careful In
Gu.ry, The tactics OF the steel corpora
ton have been one Of the serious causes
OF the continued financial uncertainty In
this country. That corporation has been
ia position TO do for steel precisely what
is needed for copper namely, TO fix tho
price for definite period. long enough to
encours &C a revival OF construction. with
out which no utilization of the Industrial
equipment of the country, commensurate
with its magnitude. is possible The
manufacturing capacity OF the nation is
necessarily in excess of mere maintenance
OF the machinery of civiIZa ton; il con-
templates expansion The productive Gu
paclty of the copper mines at the present
tiine Is also an expression of confidence
in the determination OF men to enlarge
their activities.
The opening OF the now great mlres OF
Nevada and Arizona In the drcary fog OF
2 financial storm is evidence OF inspiring
faith. II this faith be not shared by the
public. however. the results become dctri-
mental The burden of carrying great
etockS OF copper now rest heavily upon
Inc shoulders OF a group of capitalists.
ms is condition which must cause the
dent side OF the copper ledger 10 look
ilnpies SAINT for 4 long time to come. The
trouble has arisen largely from the nm
certainty of the market from the lEli-
tation OF foresight; and the latter has
beer rendered the moro difficult by the
hon; ] he independent steel producers are
having hard fight for their lives: the
formation of a copper trust affiliated with
Inc steel trust would drive the independ-
ent copper producer TO bay and 10 ultt-
mate surrender To contemplate the ex-
,nS is not pleasant. but II would per-
naPs steady the commercial world and re-
IieNe tension. Industry in general would
nc promoted. There is no means for sur
NeSlng the field and knowing The future
requirements OF trade except organizs-
ton. II is a choice between a business
run at haphazard. with waste and loss
or regulated by economic methods