Yerington times. [volume] (Yerington, Nev.) 1907-1932, 1909-04-10
COPPER OUTLOOK


A New York special qnoted John Stan
ton, the recognized expert on copper
markets, az saving the position of the
red metal was no worse than it was on
the first of the year, as follows:
III spite of the considerable increase
in copper stock on March 1st, as report
ed by the Copper Producers Association,
! believe the copper market is virtually
where II was on January |, at least in
respect to available supply. Much of
the visible supply has been contracted
for the total sold running from 100, 0OG, :
900 to 100, ,0G0, 600 pounds, should
Judge This. of course. is taking ex-
ports into consideration. as well as do
niestic consumption On the whole,
then, the market is no worse off than If
was at the first of the year, although
powerful bear element has apparently
gained cortrol and put prices lower than
is warranted by conditions in general.
Just how far the downward 1Sove.
ment is speculative. it is impossible to
ascertain with any exactness, but that
the speculative element is strong CON
tfibuting factor to the copper market at
present is a well warranted conclusion.
The sudden break in the mark ct makes
it clear that buying movement of any
magnitude by domestic consumers would
soon take care of stocks on hand and
advance the price of metal.
Notwithstanding the attractive price
of copper at present. consumers have
not entered the market to any extent
There is probably more of the metal
being taken from day to day than
month ago. but consumption is as yet
merely nominal and consumers adhere
to the hand-to-mouth policies. - Salt
Lake Herald.
According to J. Park Claiming. cop
per conditions are far from good and he
believes that something should be done
To curtail the present rate of production.
Mr.. Claiming says: :" l do not look
Tor an immediate change in the price of
copper and it looks as though the metal
was relatively cheaper than the 81 ares
of copper producing companies so long
as the present large production continues.
When questioned as to the probability
of any concerted action among the pro-
ducing interests along lines of re-
stricted output, he replied: Il don't
believe it will be possible to get the big
mining companies TO agree to restrict
ION OF output, although to my mind,
such action is greatly needed at the
present time WHAT monumental abb
surdi,y it is for the copper prod1oirg & in
terests TO keep pouring on tie market
an avalanche OF copper, the larges' y
tile nistosy OF the industry, lie Ile
cou,unpt on is no, eter os par
cent oi the figures " JN+
Tne coal mining Interests d9 Ao Aoea
tile market with more coal than con
sumers can burn, and unlike coal and
iron, there is no way OF figuring even
Approximately ,he amount of copper
which this country has i'll reserve.
This should make all the more inn
perative a conservation of our ore bodies
|. is an economical waste for copper
mining companies to exhaust its ore re-
serves and sell the copper product for
less than the cost of its production and
vet this is what several high cost prf-
ducers are doing TO-DAY. II there WAS ,
known and inehaustib.e reser c pf Up
per ores there might be a little change
of attitude of those who refuse to listen
to any scheme for curtailing the output.
-Deseret News.