Bisbee daily review., 1910-12-01
COPPER MERGER AND PRICE REGULATION.

El0tft H. Noty eut sca ouoihSSs head of the gigantic steel corporation was taken from the federal bench and placed in his present position at a salary. it is understood, far in ex' cess of any paid to judge in this country Judge Gary was remarkably successful on the bench, winning high honors, and at the same time displaying business ability that at tracted the attention of the million ires Of the stee; industry. An up right judge. with record of fidelity to the jaw. as it should be inter- preted to apply to all men alike. to all corporations or combines equit- ably, MT. Gary went to the steel cor poration and won immediate success in the business field. In short Mr. Gary's character and record are above iepaodSa. onu So lot6 oS uC ACAioiAS at the head of the big industry. its patrons can expect as much of a square deal. from their own stand point. as they could obtain from any other man not bound by any ressric- ton of action in fixing prices for what his employers have to sell.
 Lack of restrictions by the courts suits Mir Gary. and he makes an elab- orate argument in support of this ..-.-i,tion Mining Science of Novem. ls.as quotes this argument in sup. .c of it's contention that the cop per industry should be allowed to combine and maintain prices for the metal The argument of Mir. Gary, or that part of it which brings out the point. is as follows:
 Those who oppose the main tenance of fair prices when the volume of business is low on the ground that it is contrary to the law of supply and demand make the mistake of supposing that capacity to produce creates sup ply. The law of supply and de nand means the quantity which one possesses and is willing to dispose of, and the quantity which another desires to possesses and is willing to buy. Capacity to furnish does not create sup ply, nor does ability to purchase create demand.
 'It is just as illogical to say that because one is able to fur nish a given quantity that is evi-
 dence of the supply as it would
 be to say that because another
 can use and has money to pay
 for a certain quantity that con
 stitutes a demand. The whole
 question should depend upon
 mutual consideration and decis-
 ion. The seller should never
 take advantage of the necessi-
 ties of the consumer to unreason-
 ably advance prices, nor should
 advantage be taken Of the ne
 cessities of the producer to se-
 cure his product at an unreason-
 ably tow price.
 What then should the manu-
 facturer do at times when the
 consumer or purchasers are not
 willing to pay the price demanded,
 however reasonable it may be?
 Many of us at least believe he
 should reduce the output to meet
 the demand. much or little. and
 wait until those in need are will
 ing to pay what is fair and right
 Remember this assertion Is based
 in the assumption that prices at
 all times must be fair and req
 sonable and subject to reduction
 or changes whenever it is de
 cided they ought to be made.
 Sach reductions, however. should
 be made only after due consider
 ation. and in an orderly way and
 not as tho result of panic.'
 It Is perhaps unnecessary to poll out to one who considers the abo, in all it's bearing that Mir. Gary arguing from the standpoint Of laWyer-busiress man. not as a judg He is not applying the law. b' asking for an interpretation in ha mony with the desires of his c,ient the steel corporation, and himsel Tn fact. he makes a specia, plea defense of his own honesty. wheths he intends to or not As befo' stated. xe have no quarrel with M