The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-04-24
Monthly Producers Figures
May Be Concealed to Pre-
vent Gambling Tendency.
WALL STREET is
THE MAIN EXCUSE
Some Members, However, Are
Opposed to Any Change in
Procedure.

According to eastern advices. there Is
a movement on foot to cease the monthly
publication OF the Copper Producers as
ISOLATION figures for the reason that
these reports provide too great chance
for Wall street to gamble. The Wall
Street Journal has the following to say
in regard to the movement:
zone OF the most important members
OF the Copper Producers association
confirms the report that the monthly
figures giving production. stocks on hand,
deliveries. exports. etc, will probably be
abandoned In the near future. The mat
ter is now under consideration.
"He said: There is no more reason
why we should publish our stocks on
hand than the steel companies OF the
country should publish theirs. The cop
per flgures afford too much amnuni1ion
the public generally arrives at an err
roneous conclusion of the monthly state
ments. When there Is heavy increase
In stocks the cry of over-production
goes up The result is an unwarranted
slump In copper prices. When there is
reduction you hear famine talk and
copper prices move up 49,, ,,,o.
tion OF monthly figures at the start, but
certain other copper interests believed
they would be a good thing for the trade,
we have 100. 900 600 pounds or moro. cop
per ,on hand the copper market Is ON
the verge of decentralization. Stocks on
hand In the world todag ARE are In the
which is two or three months supply.
and is not threatening, Yet, these fig,
ures give rise 10 the worst kind OF
gloomy forebodings. and the man who
is not thoroughly familiar with the cop
per industry would be led to the conclu-
sion that the copper interests were con-
fronted with disaster.
1--WE have given the publication of
the copper figures a thorough test. and
many OF the leading producers deem II
to the best interests Of the trade to
abandon them
News OF the proposed abandonment
OF the Copper Producers monthly re-
ports came, on the other hand, as a
surprise to several members OF the as
been discussed at the last meeting or at
any preceding meeting as far as they
knew. IT appears to me. said one mem
Der, that to stop publication OF the
monthly statistics at this time would be
q tactical blunder and one that would
allow foreigners to say that when we
acquired anything more than n normal
stock Of copper in this country we be-
came panic stricken and took to cover
AS far as I know, there have been no
complaints about the associations work.
In fact the members have seemed thor
oughly pleased with the results to date,
81 am convinced that the metal
would have sold considerably below the
years average price during 1909. II 1t
ports, said another member. The re-
suit OF the monthly reports which has
elected the most approval Is the fact
that during the last year it has not been
possible to set anoat such absurd and
exaggerated reports OF stocks on hand.
etc, as were often current before
the figures were given out l. for one.
should be very sorry to see the monthly
N,tc ho civ 80
that they make for greater degree OF
stability In the metal trade"