The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1909-11-21

cr6aSl1nS, II as JnlS Drdncn OF the
trade which is the most important
among the consuming interests, is
buying more freely, the improvement
in the industry is being rounded out.
There is very little doubt but that
the statements of the Copper Pro-
ducers' association for the last two
months of this year will disclose a
very large reduction in the stocks
in the hands of our producers.
The consuming interests, once
convinced that a deal is going
through which will benefit the in
dustry, will be much more inclined
to stock up with copper at current
prices, and as a result of this the
surplus will be scattered so that it
will not appear SO large. 1t goes
without saying that a further concen-
tration of the selling agencies will
result in securing higher prices for
the products, and with the larger
consumption in sight in addition, the
outlook for the industry is certainly
very bright.
The president of a large copper
producing company is quoted as fol-
lows by the Boston Financial News:
II do not know whether there has
been any deal among larger copper
interests or not, but l do know that
there should be. The copper indus
try is one of the most cratic and
stable, hence it seems to me that
harmonious action should be brought
about in the interests of both the
producer and manufacturer. The
producers of copper, as a rule, are
making little or no profit and could
just as well be receiving 15 cents per
pound rs 10 cents or lower, and it
seems time to place the industry in
a better position.
Il believe that there will be some
large combinations among metal
producing companies because it is so
obviously in the interest of all that
there should be Those already in
control of a very large percentage
of the production of copper, al af-
ford to pay prices for the Phelps
Dodge & Co., properties as well as
for the Guggenheim properties, for
such a combination would enable
them to secure higher prices for the
metal. On the other hand there is
but small profit for the Guggenheim
and Phelps-Dodge interests under the
existing conditions. Hnece / believe
a big combination is coming, for no
other reason than it is to everyone's
advantage that it should take place,
for aside from the producer the con-
sumner will be benefited by a stable
price for the metal.
F- -
The opinions of a majority OF
Boston interests in regard to copper
metal conditions seem to coincide in
the belief that no upward movement
of large propositions will take place
In other words, the theory that a
boom in values in the metal is to
take place is ~unfavorably regarded.
One of the large local selling agencies
reports sales of electrolytic at from
10 to 13Ac. and Lake at 13A to
1870. per pound. A brisk demand
is in evidence. The president of this
company says that if requirements
continue he would look to see the
metal quoted at an increase of a cent
or more ove present quotations.
NEW YORK, Nov. Ss.-The Utah
Copper company reports for the
quarter ending September 80:
Net profits for mining and
milling operations -. ~$715,6SS
Additional income ........ 6,O95
Total net profits for quarter 721,6S3
The tonnage milled during the
three quarters was greater by an
average of approximately 100 per
day than that for the previous quar-
ter. This increase tonnage together
with the increased copper contents
of all the ore treated, resulted in the
total amount of ore treated during
the period having contained approx
mately 100000 pounds more cop
per than the total amount of ore
treated during the second quarter.
The gross output of copper was how
ever, 1,525,262 pounds greater than
that for the previous quarter, the
total copper contained in concen-
trates produced and shipped to the
smelter during the quarter under
discussion having been 15,299,674
pounds, as against 13,744,412
pounds for the quarter preceding.
The average price of copper upon
which earnings above stated were
paid was 10 cents as compared with
an average price of 1886 cents in
the previous quarter. At the close
of September quarter the company
had no copper unsold, but on the con-
trary all copper in transit and in
process of treatment and refining
which will become due for delivery
up to September 1 has been sold.
For this quarter the average cost
at both plants was SOFT cents per
pound for net copper produced after
deduction of smelter allowances, as
against 9.192 cents per pound for the
second quarter and 9.88 cents per
pound for the first quarter. Con-
sidering the results of the Garfield
plant by themselves the cost per
pound of net copper produced was
5.67 cents.
The cost at the Copperton mill are
and always will be somewhat higher
than those at the Garfield plant. but
for the quarter under consideration
this condition was magnified by the
Copperton plant having run for a
.oc+or Dortiop Of the time under