Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1909-10-19
THE "REVEW" GETS MARKET REPORTS" BY SPECIAL TELEGRAPH
REPORTS ABOUT
COMBINATION
WITHOUT BASIS

BosToN-There has seldom been a
time when investors in copper shares
as wen as the men who are them
selves handling the copper products,
were so intensely interested in the
position of the metal. That there has
been up to the present time an over
production is conceded. That the
present situation is needlessIy compli-
Gated, by reason of the tactics of the
Guggenheims, is also freely admitted.
The impression is growing that some
radical steps must be taken to correct
the situation. and if possible, to bring
into line the cantankerous representa-
tives of the American Smelling & Re
filming Co, between whom and the
Amalgamated Copper people the keen
est rivalry and antagonism exists. 1t
is agreed that only through the inter
cession of ]. P. Morgan & Co. can
the Guggenheims be held in restraint
AS yet no very clear evidence can be
producted TO indicate the early con.
summation of any pan looking to the
betterment of the industry. The ne
cessity for concerted action of some
kind among the producing interests
is, of course, recognized, but the way
and manner of bringing it about is a
problem not easy of solution. The
Calumet & Hecla people, for instance,
now controlling upward of 100000
pounds of annual output, will not re-
cede a hairs breadth from the posi-
tion which they have taken against
any direct or indirect connection with
any agreement to curtail production.
Calumet, however, produces Jake COP
per, and not electrolytic, but it is
doing more TO assist the copper mar
ket than any of the other large pro-
ducing interests. During the past
year it has withheld IA per cent of its
mineral product from the smelter; in
other words, has curtailed its refined
copper output to that extent.
The Phelps-Dodge interests are just
as strongly opposed to any curtail
ment agreement. An Official of that
Organization says:
I'VE are not crowding production
in fact, our Copper Queen smelter
could produce 100000 pounds OF
copper per month as easily as it is now
producing 5000, 900, and we have today
at one point $4,000 tons of ore which
we have accumulated in order that
the refined copper market may not be
Iburdened with still further excess
of output
There is nothing in this talk of a
copper combination. Efforts have
been made to construt our sale of the
Indiana-Sonora property to the Cole
Ryan people as evidence of some sort
of combination between us. Moth
ing is farther from the truth.
I'VE are not considering a combina,
ton and do not believe any of the
present evils-if the yexist-are to be
corrected in his manner"
An official of the Amalgamated Cop
per Co., who was asked concerning
a possible combination says: Il can
only say that, with one exception, the
producers and sellers of copper are
today working together more harmo
niously for the good of the industry
than ever before If l should make
the statement that no negotiations
were pending, the events of weeB
might prove the faIsity of my asss"
ton"
| Asked to give an opinion Of the pres
ent consumptive demand for copper
tbs Official replied: Il am firmly fc
the opinion that the consumption Of
copper today is as large as at any
previous time, not excepting the boom
year of 1906. The home demand Is
steadily expanding and foreign con
sumption is also improving very per
ceptibly, especially in England, where
during the past few weeks, very sig.
nificant betterment in evidence"