The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1910-08-15
MUCH GOOD FROM
PRODUCERS REPORT
Decrease in Copper Was Sur
prise to Many of the
Mine Operators.

At the monthly meetings of the Cop
per Producers association, the mem
bers frequently indulge in a guessing
contest as to what the forthcoming fig
ures Of Secretary L. c. Grafton viii
show. At the meeting held this week
there was not a single member who had
the temerity to guess thaL The July sur
plus OF production over domestic and
foreign deliveries would be less. than
0,000, 600. Some of the members pre-
dicted figures as high as 10000, 600.
When Secretary Grafton announced that
there had been an addition TO the sur
plus during the past month OF but
2,254, GOO pounds, the members We're
thunderstruck. Even the members
whose companies represent a very large
percentage OF the total output were as
Tar from the mark as the representa-
tlves or the smaller producers, says the
Boston News Bureau.
A large producer who attended the
meeting says: "rhe statistics amply
confirm the position which 1 have tax
en- during the past two months with
respect TO the copper situation, and
that is that there has for some time
existed an equilibrium as between act
ual output and actual consumption
The July results afford US great en-
cOura cement, as the restriction program
was not put into effect by the Anal
gamated and Guggenheim companies in
season TO leave any imprint on the July
should not manifest itself in the re-
finery figures much before the first of
October.
DIseredits StOry.
Il do not believe there is any justi-
fable srOund for the printed state
ment that as England and France take
only between quarter and third OF
our exports that the balance Is going
into concealed stocks elsewhere on the
continent The ratio OF continental ex-
ports tother than those TO England and
hrance) Is not materially greater Than
has been the case for months. II the
percentage is a little larger now, 1t
merely confirms me in the view that
the continental manufacturers have
been OF late drawing down their work
ing stocks until a repleniShment be-
came an absolute necessity. This re-
punishment may have temporarily in
creased the continental takings little
more than usual"
The results which have thus
1ar obtained from the monthly
publication of the refinery sta
II this course, as otherwise the
creation of a foreign surplus amounting
TO Well over 200, O00, GOO pOunds-as told
IN the foreign visible supply-would
have been accepted as but the reflex
OF similar conditions IN this country, the
effects of which would have been de-
moralizing in the extreme. The figures
OF the Producers association, on the
i
there has been no excessively large
surplus in this country. In consequence
such declines as have taken place in
the metal market have been orderly
ing influence on the market, the
monthly statements of the association
are worth all the time and effort made
necessary in their compilation.
Good Work Done.
Incidentally great credit attaches to
M D. bn ha N
charge the collaboration OF the statis-
tics, and in whose integrity every mem
Der has the utmost confidence. He
alone has the final results of every
months operation before they are given
10 the association, and no one member
has access TO the information before
any other. Mr.. Grafton has invented the
unique system adopted for the tabula-
ton of the necessary details, and Is
rlgldly insistent that absolute accuracy
shall govern even the smallest detail.
Not shadow OF suspicion has been
cast upon the accuracy of these state
ments since Mr.. Grafton has had them
in charge, and the manner in which his
totals balance, Notwithstanding the
completely Of his calculations, is re-
markable. The published statements
are simplicity itself. The members.
however, are given additional details
showing TO just what part the foreign
takings are consigned and in just what
shape-pigs, bars. cakes. ingots. etc.
Lake, electrOlyttc and casting brands
are all separated in the production to-
tails. Notwithstanding all this, the
figures are ready for the members on
/ the Sth OF each month, covering the
operation of the preceding thirty days.
Successor Not Chosen.
Although Chairman Livermore, who
was primarily responsible for the or
ganization of the producers, has an
nOunced his retirement from the Cal
umet < Hecla, and presented his resig-
nation from the association, his sue
| cessOr has not yet been chosen. 1t is
/ TO be hoped that the splendid achieve
ments OF this organization are not 10
cease with the withdrawal OF the man