New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-08-06
"COPPER" OUTLOOK ABROAD
John D. Ryan Arrives from tu-
rope Full of Optimism.
CONSUMPTION INCREASING
Found Opinion General, How
ever, That Production Was
Greater than Necessary.

John D. Ryan. president of the Anal
gamated Copper Company and OF the IN
ternationaI Smelling and Refining COM
pany, returned yesterday on the steamship
Mauretania from a two months business
and pleasure trip to Europe, with optlInls-
tic reports of the copper outlook ABROAD
European stocks of copper are beio" nor
NAL. he said, and the consumption OF the
metal there is very large at the present
time and is constantly increasing.
Mr.. Ryan's arrival had been awaited with
much interest in copper circles. as ne hao
been reported to have taken leadlns part
in recent European conferences between
conner interests called for the purpose OF
bringing about a general agreement Tor
c,,,t ailment in the output of the metal Inc
Rotbschilds were among those said TO nave
been present at these conferences. and It
was also rumored that Amalgamated anu
Guegenheim interests were to form an al
lance with the object of restricting pIo-
duction.
Mr.. RYAN was reticent, however, concern
ing what took place at these conferences
and the reports of contemplated reductioii
in output by the leading mines Neiliio.
would he say whether the RothsChllds anu
the Guggenheims were among those VIII
whom he talked on the copper SITUATION
II prefer not to mention Names ne saiu'
when asked with whom he had cohierFeu-
He did. however, emphatfcally deny thal
there was any ground for the ruflorS VI
an alliance between the Amalgamatea aiiu
the Guggenheims-
All that he would say in regard 10 inc
reduction in output rumors vas thaI "iii0
he was abroad he had hah conferences
with the largest producers and consu'ii-
ers of copper in England. Germany anu
France and that the general OPINION ca
r,r.ssed at these meetings was that pro-
duction was in excess OF consui'fplloi'' a.
though consumption was no" Oh Oh 'ii
precedented scale. He added Ihd'' PEI
ally. he thought an improvement III ~
metal situation would be SHOWN iioiii H.
Speaking of the copper sltua tioh III s."
eral, Mr.. Ryan said: 49,. -
'oThere is not more than Ao.Vp IONS W
conner ON hand the world over. and TINS
:, ~ ,,r..+er amount than should be con-
stantIv kent on hand with the present rate
of consumptjon. In 1866 and 1907 we did not
have enough copper on hand, and as COLI
sequence the market price OIL INC ''
went to a high figure.
sumption of copper is increasing at Oil
amazing rate This is particularly true III
regard to England. France and Germany
Rusiness and commercial progress IN Ger
many is wonderful, and naturally copper
metal is being ut to great many he"
uses The identification of railway ter
minsls in England. and indeed many OF
the suburban lines, is causing greater
consumption of copper In that country
This is also the case in Germany, although
to a. lesser extent.
Concerning general business and conf
r7ercial conditions abroad he said.
business in mort European countries
annears to be very good indeed, and con-
ditions seem to be excellent in every re-
gard. At the time left London financlers
and bankers naturally We're talking rather
pessimistically on account of the sudden
dror, in market securities last week. There
10 no doubt existing in the minds of Eu-
ronean fnanciers as to the real value or
American securities, but it is generally
conceded that there Is too much political
Interference with business In this country
r. is also admitted that this condition Is
only Temporary and that we in this coun-
try will outgrow this. The general feeling
&c that of confidence IN the ultimate out
come and in American securities OF the
better class