The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-09-13
CANNOT OUTPUT
TO0MUCH NE TAI
Walker Believes Within Year
or Two Copper Demand VIII
Be Enormous.
BRIGHT OUTLOOK in
WEEKS COPPER LETTER
Investors Whose Present Timid-
ity Prevents Purchase May
Regret Inaction.

Advance copies OF Walkers Copper Let
ter received out west enter into detail ir
regard to the present copper outlook
md the following optimistic extract from
the same WILL prove of interest locally;
'I figure that the worlds present sur
plus does not exceed two months con-
sumptIon requirements. Consumption is
now exceeding 1900. 100000 pounds oil
copper annually. or 10000, 600 pounds
monthly. which is equal TO the present
total productive capacity OF the worlds
mines OF the Ss7, ,2s6 9o5 pounds existing
worlds surplus not over 3OO.O6U. oot
pounds could possibly be made TO disap-
pear by advancing prices. as the great
volume OF operations will hereafter ne
cessitate a surplus OF al least looooo,ooo
pounds In process Of accumulation al re-
finerles and other shipping points. In
warehouses. to supply sudden increases In
demand etc.
"Of course the United States is nor
mally the greatest copper consumer, ana
should there be any considerable further
business depression here, 1t will tend 10
prolong the existence OF an abnormal
worlds surplus. On the other hand, when
political, financial and business conditlo Ions
reach that point Of readjustment where
the financing OF new enterprises can be
resumed. this country's consumption
should quickly advance TO So.o0o.OoO
pounds monthly. Meanwhile, VIC are con-
suming more copper in this country than
ever before. and foreign consumption is
increasing at an almost unprecedented
rate. Taken altogether. the outlook for
the metal situation Is growing brighter
all the time. ] feel confident that, not
withstanding the new mines which will
soon become factors in the situation, cop.
per consumption during the next three
or. four years will exceed production.
After this period. In which the output will
continue 70 increase rapidly, there Is
every reason 10 believe that there will
be very decided halt in the growth OF
sell al the sensational high prices.
Copper share prices have ceased TO
decline and the tendency now seems to
be slightly toward improvement The
market is so dull and narrow that specu-
laiive operations have been entirely dis
couraged. What little there is represents
the average OF accounts by u few
speculative investors who bought stocks
at much higher prices. Almost everybody
seems 10 be waiting for an opportunity
10 buy coppers, and all other stocks for
that matter. at lower prices Later on,
therefore. quite general disappointment
may take the place Of the present pessi-
mIsm.
''The prices at which copper stocks are
row selling moi only reflect the depres-
sion OF the metal market but would seem
10 indicate that all the mines had cegen- |
a matter OF fact, The current low metal
prices arc due chiefly TO the fact that |
the mines are in magnificent shape and |
actually doing too we'll Low metal prices |
are temporary condition. however |
within year or two all Of The rlncs
pound OF copper they possibly can and |
metal prices undoubtedly viii prevail |
which will nearly or quite double their
present average profit"