The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-06-30
MORE VIEWS ON
COPPER OUTLOOK
Wonder Expressed That Copper
Has Held Prices as Well
as 1t Has.
PRICE WAR MAY BE
THE OUTCOME YET
Figures Given on Production
and Consumption at Home
and Abroad.

ne Amaleamated Copper company is
reported from the cast 10 have dcterhilieo
on small curtailment OF copper pro-
ducton In spite OF the repeated state
ments TO the contrary by seNcrai prom,
nent officials Of the company. ihat @ sue. a,n
action will clear up the situation Goes
without saving. An interesting rcYle"
of the copper situation was gwen Mon
day by the Wall Street Journal pot-
tion of which here follows:
Developments In copper over the last
week have not been encouraging. IT was
believed that fairly large sales would ne
made and that Increased domestic de-
liveries OF the metal would contribute to-
ward a more favorable report Tor June,
On the other hand, there has ocen iitlie
buying of the metal, exports nave peeh
small, and more copper is coming INTO tne
country from Canada. Mexico and South
America than at any time in history
Some heavy buying VIII have to take
place between now and July l In order
10 enable the Copper Producers associa-
tion 10 make n satisfactory showing
From present indications stocks on nan6 mo
will show an increase OF rom io.ooo.voo
TO 10 900, 900 pounds. which does not fore
cast any material improvements in prices
in the near future.
Producers stnl have hopes that Europe
will enter the market as buyer within
the next two weeks. but the United
Metals Selling company docs not seem
inclined 10 make concessions in order 10
rid itself of the large stocks 1t now holos; H;
their possible production well into Au-
gust and the United Metals Selling com
pany is the only concern that has large
stocks OF the metal available Tor delivery
over the next two months.
Consumers are not aggressive In their
efforts to procure copper. Certain manu-
featuring concerns that heretofore pur-
chased from 10 900. 900 10 100000 900 pounds
in single blocks are now limiting their
purchases 10 from 100000 To 100000
pounds.
IT is well known in copper trade circles
that while no copper war exists between
the Butte copper interests and the Gus-
genhclms the former are not at all
pleased with the readiness with which the
tions OF the United Metals Selling COM
pany. II is regarded by many as re-
markable that copper prices have been
held at even the current figures in the
face OF the large stocks and The conces-
sions that independent producers hare
been willing To make in order TO convert
their products into cash Should cop
per price war set In very few OF the eX-
listing companies could maintain then
present dividend rates. This applies to
the so-called low cost producers as well
as the high cost producers.
Low w-price5 copper Is one thing that
would force a restriction in output One
consumer figures that In the event OF
reduction In copper prices TO 10 cents
pound there would follow shrlnkaEe in
production that in two or three months
would result in a drastic reduction in do
mestic as well as foreign copper oclis.
Considera bic discussion and variance OF
opinion is rife in copper circles IS 10
whether consumption has at last actually
overtaken production and is on the point
of passing il. or whether the nominally
unchanged position OF worlds stocks since
January ! is temporary condition so
that the year as whole Will show
further accumulation as last year.
Comparing 1909 with 1899 1t appears
that in ten years production has in
creased 7I.2 per cent. while consumption
has gained 73.0. with an average yearly
increase in production of III per cent and
an average yearly increase III consump-
ton Of So per cent. as shown by the
following: