The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-05-13
LOOK FOR LOWER
COPPER PRICES
Eastern Circles Say Consumer
VIII Not Now Accumulate
Normal Stocks.
LOW METAL WILL
WORK OFF SURPLUS
Financing of Railroad Improve
ments May Have Bearing on
Copper Situation.

One development OF the week in cop
per circles, while disclosing nothing
especially new In the situation, certainly
served to emphasize the fact that the
consumer is hanging on by his eyebrows
TO keep from entering the market for
the metal This was when one of the
largest consumers of the metal purchased
a big block of copper at I3 cents pound
on the rebound from 12t to 10 cents.
How long the much advertised surplus
would last were the consumers TO enter
the market for their normal stocks OF
the metal presents an interesting
thought A mining man recently re-
turned from the cast was asked this
question on Thursday by Tribune rep
resentative, and he said:
Il do not know what is considered
normal stock on the part Of the consum-
ers. but the copper surplus in the past
has been considered safe and sane one
when the amount in reserve was from
80 600. 900 TO 70o0O.000 pounds. The
present surplus is very greatly In excess
OF this amount. and production seems
growing as fast or faster than the con-
sumption, while there are score or more
OF new producers getting ready TO throw
their large output on the market.
In the east / found the greater pro-
portion OF sentiment on the side Of low
er priced copper. There has been talk
OF coming TO some basis of agreement
by which this surplus can be shifted Into
tie hands OF the consumer and even tax
ing away one-half of IL would help the
situation. But / do not know what the
chances arc for such an agreement. One
thing seems generally taken for granted,
and that Is the price OF copper VIII nave
To be still further reduced before the
consumer can be coaxed into the market
for more OF the metal than for his i'm
mediate requirements.
There is hardly any probability that
the Copper Producers association will
stop making public its monthly figures
of production and surplus. There are
arguments on the side. OF the association
for such action, but there are arguments
on the other side which appear to me
to be even more positive. II Us fact
that the producers are playing into the
hands OF the consumer month after
month. but the producers al the same
time have thousands upon thousands OF
stockholders in their various copper or
eaniZations who are entitled TO all the
information obtainable to guide them In
their investments, There is need for
copper statistics. just as there is need
for steel statistics OF for crop reports.
THE consumer believes he Will get
cheaper metal, and that II is to his in
terest not 10 load up under the condt-
tons, He is running from hand 10
mouth, and in the promise OF even great
er copper production soon To come In all
these new copper companies. he naturally
believes cheap metal VIII prevail Tor
some time 10 come. There is one thing
in the situation that we should not lose
sight of. Months ago we heard a great
deal about The railroads intending to
electrify huge terminals and to make
such Improvements generally that would
consume an enormous amount OF the red
metal The hard times caused all this
10 STOP. But many of the roads are Sc
curing money now, principally from for
siCn sources. To make these betterments.
and this may have n very important
bearing on the copper situation"