The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-05-06
Metal Slump Should Stimulate
Consumption as the World
Requires Copper.
BUSINESS REST IS
HAVING GOOD RESULT
Present Complicated Situation
Is Reviewed by Capitalist
of Iowa.

James @. Berryhlll. one of the best
known business men and capitalists Of
the state OF Iowa. is In the city. en- route
10 the Mason district TO participate in
the Railroad day celebration on May Z.
Mr.. Berryhll is A director OF the Nevada
Douglas company. and he naturally takes
keen interest In copper mining affairs.
When asked by The Tribune for his
opinion on the copper situation, he re-
Piled
For a short time ] expect lower cop
per market. and | expect l2-cent cop
per. The so-called large visible copper
supply seems at the bottom OF the pres
ent dull situation. but when you come
10 analy5e this surplus you find that II
represents not 10 exceed two and hall
months consumption This surplus seems
to have paralyzed the market but the
low price of copper undoubtedly Will serve
20 greatly stimulate consumption. on
my way west l noticed that the Western
Union company had replaced the Old gal
which are not only better conductors OF
electricity, but more economical at the
present price OF the metal.
so copper at its present price viii be
consumed much more generously than
when Il was bringing the high prices Of
1907 The depression; however, Is not due
exclusively TO the large visible supply
OF copper, but there is r feeling OF tim
idity in the financial circles and money
centers of the country, especially In the
ment OF corporate relations With the pub
lie, and the radicalism so manifest in
congress today, are responsible in a
great measure for the position taken
owing to these things. the financial
world has adopted waiting policy and
There is a i1rm conviction that great
deal OF new financing must be done In
enterprises already launched, especially
in railroad circles. The task OF double
IRA n I'M q
OF terminal facilities, the purchase of
new rails and rolling stock and the i'm
provements needed generally TO properly
handle the continually increasing traffic
demands Of the past decade, all Will re-
quire vast capital and have occasioned
the conservative policy now so manifest
throughout the country.
The railroad men are daunted by the
fact that they have been compelled TO
advance the wages OF employees, and sup
plies have increased In cost yet they
have not been able to protect them
selves by advancing charges to meet the
increased outgo. \ great deal has been
accomplished by such entcrprising rail-
road operators as Hartman in bettering
roads by cutting down grades. doing
away with curves and tunneling the hills.
by the laying OF heavy steel and better
the increased traffic at lower cost. but
the roads not administered and improved
upon such broad policy are today badly
handicapped for the lack OF capital TO
bring about the necessary changes.
These things Illustrate the strain upon
financial resources. The great expansion
and activity during the past decade have
absorbed vast capital, and thcy have
trenched heavily upon the surplus neces-
sary 10 conduct business. The panic OF
1907 brought about a heavy eastern liqui-
dation, but this was not felt very far
west OF the Alleghenies. Yet 1t occa-
sions feeling that some readJustment
must take place or there must be ces-
sation of business activity before the
country can so forward anew In great
development. The middle west has been
experiencing great prosperity; especlaily
high prices commanded by the crops. |
and business in the west Is still good. |
This conservative spirit is bound TO have
a very good effect on the business world. |
A period Of rest that may ensue Will bet
ter prepare the country Tor a new leap
forward.
The tremendous expansion in electrical
lines ultimately will absorb all the cop
per produced by the United States and
the world. and possibly during tho pros
ent year there will be n recovery from |
the present low price Of the metals, The |
copper stocks are very low in price. |
The stocks OF n great many splendid
ket at a very low valuation. and patient
investors will realize In time fine profit |
on first-class securities The only thing
TO do Is to lock up these stocks and |
await future developments
Regarding the Mason present-day ac-
tivties Mr., Berryhill said:
The Nevada copper Belt railroad line |
today is a paying proposition, and II is |
paying in spite OF the fact that as yet
II is not completed, nor has the company
the advantage Of the business of the |
Mason Valley. Nevada Douglas. Bluestohe |
and other properties which il will have
when the production era arrives. This |
road will develop into A fine dividend |
payer. and ! consider the installation Of |
The line by the Nevada Douglas company |
as the best step that could possibly have |
been taken. The financing and construc |
ILL .,,.1.v
strate TO the world that the Nevada
Douglas is based on a firm foundation. |
The fact also that the Mason Valley |
company is TO spend large sum on
world the undoubted merits OF the Mason |
Valley mine. In time. both these COM