Mohave County miner. [volume] (Mineral Park, A.T. [Ariz.]) 1882-1918, 1910-04-30
Low Cost coppers Key to the Situa-
ton.

ton.
That the lower price of copper is
causing eastern investors to awaken
to the important position which is oc-
cupied in the copper world by the So
called porphyry producers, is evident
from the recent performance of the
eastern stock markets. And it would
appear to be time for the awakening.
1t has for long time been inter-
esting to note the unanimity with
which Boston and New York stock
market 'talent" had studiously
ignored such issues as Utah Copper,
Nevada Consolidated, Ray Consolidat-
ed and the yet newer "porphyries.
Efforts to school the mind of the east
ern investor into the belief that the
Lakes and the Buttes were the only
''coppers," have been so apparent that
they have become almost humorous.
What are really back numbers are
referred to as ''the standard coppers."
But since the price of the metal. in
stead of advancing in accordance with
eastern predictions, has continued to
decline slightly, occasional reference
to the porphyries and the possibility
of their being induced to curtail pro-
duction has become imperative. And
that has caused the eastern investor to
wonder if the porphyries may not be
performing the role of the band wagon;
and even the advisability of getting
into the band wagon has occurred to
some of them.
Canvassing the situation has brought
to many the startling knowledge that
such producers as Utah Copper and
Nevada Consolidated are in no i'm
mediate need of curtailing production
that they can go right along pro-
ducing copper at a profit until the
price goes so low that the Lake and
Butte mines will have to either sus-
pend production or operate at a loss.
Then without question the lower price
of the metal would result in extend
ing its use and the price would GO
up. So that there would be no need
for the porphyries to curtail at all.
A Boston statistican has discovered
that II per cent of the American out
put of copper is produced at cost
above IL cents a pound, the average
of that 10000. 900 pounds of the metal
being close to IL and one half cents.
Which means that the unfortunate pro-
ducers who take part in making that
IL per cent of the output will be run
ming close to shore in the event that
the price of copper drops to II cents a
pound, while the once despised por-
phyries, producing copper at a cost
around cents pound, will be max
ing as good profit as any reasonable
business man could ask for.
Then arises a question, of ethics,
perhaps. Should the porphyry pro-
cucers, to help the high cost produc-
ers out of hole, cut down their forces
and reduce their output, as the ex-
pense of higher cost of. production for
them, in addition TO loss of gross bus
iness? That would be the thing TO do,
no doubt, were business operations to-
day universally conducted in accord
ance with brotherhood of man" ideas:
but until such ideas are generally
adopte wouldn't it be human nature
for the low cost producers TO continue
grinding out copper and paying divi-
dends TO stockholders, who are always
more or less grasping?
1t is fact so patent as to need no
calculating that the porphyry produc-
ers, especially after Ray, Gila, Chino
and Inspiration shall have been added
to the list will dominate the copper
situation. And poor old Boston and
New York are just getting wise" to
that situation.-Salr Lake Herald.