The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-06-15
HARD To FIGURE
OUT SITUATION
Eastern Authorities Differ as to
Cause and Solution of
Conditions.
COPPER LIKELY TO
STAY WHERE 1T Is
Frederick Lyon Believes Cop
per Prices Depend on Gen
eral Industrial Condition.

Frederick Lyon. assistant managing di-
rector of the United States Smelling. Re-
flnins and Mining company, is visitor
to the local Offices OF the company,
reaching Salt Lake from Boston on Sun
day. Mr.. Lyon was seen by The Tribune
Tuesday and asked for an expression rel
ative TO the present financial outlook and
prospects for copper from Boston stand
point
II could give you an opinion. but II
would not be worth very much," said
Mr.. Lyon, and he then explained as 1ol-
lows; Just look back q few months ana
recall some of the expressions and pre-
dictlons made by some OF the best men
In the country. l5-cent copper, for IN
stance. was predicted on more than one
occasion and hy more than one authority;
Vet the opinions so expressed were all
wrong.
Ask any dozen men in Boston who
usually are considered authorities on the
financial conditions. and you VIII sc ger ia. a
ss to the cause or ultimate result OF
the present situation, Men whose woru
always has been Of the highest value
have jumped into the market recently.
loaded up on stock that looked cheap TO
them only TO witness that stock continue
its downward trend beyond every eXpec-
tation.
Now as for copper my personal opin--
ion. If YOU want IT. is that the present
difficulties with which the industry ls
encased are not so much reproduction
and under consumption. but they are due
to the general industrial uncertainty
People are afraid 10 go ahead on an!
industrial line until some order is brought
into these existing difficulties. ] look Tor
r steady fluctuation In the price OF cop
per a somewhere near its present level
II cannot go much II any lower because
II cannot be produced for much lower,
and l do not look for any much higher
price for the reason that the productl@n
is going 10 be increased so materially
right along. Europe has the right system
With copper for they buy IL when II rs
low and sell ii when ii is high, In ms
country we do just the opposite. so We
really are working more for the benefit
OF Europe copper wise than We are tor
our own country.
"As for the United States Smelling,
Refining and Mining company. we are
not suffering as much from the present
price OF copper as the ordinary copper
producer Is Our company produces all
the metals copper. gold silver, lead and
zinc and the increase In the price of sill
Yer. for Instance has compensated in our
earning capacity for the drop in the price
Of copper l.,
Mr. Lyon says that the company In
Pschuca Mex, is extending its actiEl-
ties 1000 men now being at work on the
sin shafts on this ground. the depth OF
which range anywhere from 500 10 1900
feet The company Is now operating
about ten OF this number. and three more
shafts are being put into condltioE ior
the resumption Of development and ore
production The COMPANY has Two con
centratlng plants. one now having Its ca"
pacity increased from 30 70 20 per cent,
and when this is completed the second
plant VIII be treated in like manner.