The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1910-08-02
UTAH COPPER TO
CUT PRODUCTION
Will Only Keep Up With Ready
Consumption of
Metal.

That Utah Copper Is to cut It's pro-
duction to conform with the require
ments of the market is the substance
of q statement recently issued by
Charles NJ. MacNeill, president OF the
Utah Copper company. 1t has been
rumored for some time that negotia-
tions were in progress in Europe for
a general understanding among the
large copper producers for the cur
tailment of the copper production, but
the statement OF Mr.. MacNeiI Is the
first definite statement that has come
from the copper men.
That this move has started can be
seen In number of ways. 1t has been
published several times that the mines
at Butte were running with smaller
FORCES than usual and a number of 9TH
er notable indications are found.
John ID. Ryan, head of the Anal
gamated interests. was among those
who We're in Europe. and he Is ex-
pected In this country shortly. II is
probable that as soon as he reaches
New York he will come west to look
into affairs. +. Augustus Heinze, Eu-
gene Meyer, IT.. Charles MacNeill and
Daniel Guggenheim have all been In
Europe holding conferences
Mr.. MacNeIl. president of the Utah
copper company, which company owns
In turn half the Nevada Copper com
pany, and thus controls an output OF
l75.OO0.00O pounds of copper per an
correspondent the following state
ment:
Speaks for Company.
Il cannot speak for any company
other than the Utah Copper company,
but so far as we are concerned we are
convinced by the experience OF the
past six months that, for the present
at least, the worlds consumption can
not take care OF the production OF all
the mines operating at their full ca
pacicy. In making our production con-
form TO the consumption 1 consider
/ that we are acting for the best inter-
ests of our shareholders and for the
ability Of the copper industry in
general.
1T viii probably not be a long time
before the consumption, which is large,
viii be on a scale TO take care OF the
entire production at fair prices, but IN
III such time we shall not produce
more than can be sold at a fair profit
Why should copper producers turn
their ore reserves into the finished
copper product faster than they can
sell II TO adVantage?'
While Mr.. MacNeill particularly spe-
| eiried that he was speaking only for
| the company of which he is president,
II is understood that his views are
shared by the heads of the copper-pro-
ductng industry OF the world, and that
a general agreement has been entered
INFO on the lines of the policy indicated
by him.
During the past quarter Utah Copper
| has produced more copper than at any
time in It's history and under present
market conditions is earning $4,000, 900
a year or 81 share. Just in what way
/ II Will cut it's production is not known
here. The COpperton plant, which han
dies 1000 tons OF ore a day, was closed
| Sunday. This is said to have been done
| on account OF trouble In securing water.
The company is now handling close
10 10000 tons of ore a day, and its
machinery is being remodeled and
| changed so that the capacity is being
increased. This will undoubtedly go
ahead, but the ore shipments may be
! somewhat limited.
1t is said that the reason for the
company being able to make the record
| that II did during the last quarter was
/ that the railroad service has been the
| best the company has ever received.
| 1t Is declared that there has been
no trouble whatever in securing enough
| cars to transport the ore.