Weekly journal-miner., 1910-08-10
COPPER PRODUCERS
 TOCURTAIL OUTPUT
Is Said New Policy Looking to Wiping Out of Red Metal Surplus Will
 Be Inaugurated

, is quite generally admitted that steps have been taken by leading copper producers to curtail their out put, although great care is taken , not to convey the impression that Ca conspiracy exists" As a result of informal discussions a general un-
 derstanding has been reached, look ing to a reduction of output and the wiping out of the present red metal surplus but it is denied that any defn- ate agreements have been made. Each producer, it is said, will act on his own initiative and be governed by his own judgement as to the extent to which he will carry his curtail- ment. A very material reduction in the surplus is expected during the next few months, together with a natural increase in the price of the metal.
 It is reported that the Amalga- mated -Cole-Ryan, Guggenheim, Phelps Dodge and Clark properties are among those that have decided upon a curtailment policy. It is impossible to obtain definite confirmation of these reports of eurtailment plans and it is not likely that any of the parties to the understanding will ad- init at any time that a definite agree I &a of has been made.
 Dispatches received from abroad said that the Rio Tinto copper mines, the largest producers in Europe, are ready to cut down their output when the American mines begin curtailing. W. A. Clark is quoted in Butte as saying that there is disposition among all the large producers to eur tail production and that the Roths- ehilds, who control the Rio Tinto mines, had indicated to him their willingness to reduce their output. He said also that a similar disposition was evidenced by the lake copper producers, the Phelps-Dodge and other Arizona mines, including the United Verde which MT. Clark controls.
 A report, lacking confirmation, that interests allied with the Amalgamated Copper company have recently ae quired between 30,000 and 40,0UJ shares of Utah Copper stock and that as a result Amalgamated interests may secure representation on the Utah board. It is known that the chief obstacle to a general eurtailment of copper production has been the fight that has been in progress between the Guggentheim and Amalgamated interests and the unwillingness of the Guggenheims to restrict production. If it is true that Amalgamated people have a cquired large block of Utan Copper stock this may have aided in bringing the Guggenheim interests into line.
 A representative of one of the largest copper producing companies said. "You must rest assured that there will be radical eurtailment of production from now on. I know of no agreement, but that is the attitude of the leading producers.
 BUTTE, Mont, July 29.-SenatOr ". A. Clark, who has just arrived here, says:
 ''I shall devote my attention to Zinc deposits of this district, which ore will be treated at the eoncentrator of the Butte Reduction works, which I shall continue to operate. am not disposing of my holdings in this state and in fact am increasing them. shall engage in active prospecting for zine in other properties l own in Butte, having demonstrated to my satisfaction that the production of zine is a success. If I could make a favorable arrangement with the stock holders of the Butte & Superior com pany I would finance and operate that property as well as my own.
 "'The copper situation does not look very well on the surface, but conditions are not as bad as the pub | lie is led to believe. The consump- tion of copper today is greater than it has ever been in the history of the world, but the price is depressed for the reason that We are producing more copper than the requirments of the trade demand, still last month the showing was better in this re- speet than it has been at any time since the month of January.
 ''The statistics as gathered by the Copper Producers Association and best authorities in Europe show that the total surplus above the require ment of the trade for the month of