The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1909-10-04
MORE COPPER IS
BOUGHT FOR USE
Increase of Stocks Not a Bar
ometer of the Situation,
IT'S Said.

Current gossip bearing upon the
copper market has not been Of an
encouraging character since the pub
llcatlon of the August report of the
copper Producers association on
sept 10, says the Wall Street Jour
naI' The report as is generally
known, showed a rather heavy in
crease In stocks on hand. This was
taken by many as an indication that
there had been no Improvement to
speak of in copper, and that it would
De a long time before surplus stocks
In europe and this country were alb
On the other hand, conservative COP
per producers and selling agencies
uld not regard the increase in stocks
as barometer Of actual conditions.
Iney argue that consumption has in
creased right along, and not until
Jhere are signs of a reaction in con-
sumption will they regard the course
OF OIL the copper industry as anything
A representative of one large group
or copper Industries has made care
Iul investigation of the operations of
the principal companies that consume
copper He finds eight out of ten com
panies are consuming more copper
than ever before, while the remaining
Two are using more copper than year
ago, although they have not reached
nigh record as yet The increase in
consumption, he finds is due more
TO the new uses for copper than any
have not reached a high record in cop
per consumption. but their orders are
running IN excess of shipments. and
it is believed before the close Of
the year they will be consuming
more copper than ever before.
II IS pointed out that copper pro-
ductiOn for the next two years will
not go Tar beyond the high record of
last month. There are no mines now
in course Of development that viii be
able to produce large quantities of
put viii have to come from the prop
critics already in operation. There
fore, no heavy expansion in produc-
ton is ANTICIPATED until perhaps the
latter part OF 1911.
Some Increase Abroad.
There has been some increase in
copper consumption abroad, but it
has not been pronounced. Chairman
Gary of the United States Steel cor
pOrauon. who is a close observer of
-ndustrlal conditions, says he sees
signs of Improvement abroad. and if
such is the case, copper manufactur-
ers can look for better things be-
1o5 I7,7I me close OF the year.
copper have been dumped on the
market in Europe within the last
several weeks, and TO this is due the
low prices that prevail for the metal.
cOrding to statements made by pro-
ducers, have been smaller over the
last six weeks than at any time since
the latter part of last year It is be-
cause of the removal Of a large |
amount of this speculative copper and /
increased consumption that an i'm
provement II prices is anticipated be
fore the close of the year.
The United Metals Selling COM
pany, which handles close to 40 per
cent of the copper produced in this
country, Canada and Mexico, has been
selling electrGlytc copper at l34
cents a pound, according to reports. |
although current quotations have been
close to 13 cents. If the Metals Sell |
ing company has been selling large |
of the metal at the price |
named then it stands to reason that |
there is very little copper available 1
around 10 cents a pound.