The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-08-23
LOOKS LIKE No
COPPER FAMINE
Foreign Statistics Turned to
for Proof That Conditions
Are Favorable.
AND In THE FACE
OF RECORD OUTPUT
Metal Being Consumed for
Small Stocks Are Now
Being Held.

The Boston Financial News says: The
fcrtnightly statistics showing that the
foreign copper surplus has decreased
$500, 900 pounds during the first half OF
August were very satisfactory, inasmuch
as 1t was thought that the large sales for
export a few weeks ago might be re-
flected in an increase. The surplus
abroad. which reached a total OF 249,
625. 500 pounds on the first of last April,
is now down to 215,120. 900 pounds, a de-
crease of 52,905, 600 pounds. but our own
surplus increased, between April l and
August l, Al. SIS, S0i pounds,
The first quarter OF this year, however,
showed n large reduction i'll the surplus
on this side OF the water, and, deducting
the combined surplus on the lst OF All
gust, ii Is found that the net increase Is
only 100000 pounds. 1t is fair 10 say,
therefore, that the consumption this year
has equaled the production; notwithstand-
Ing that the output OF the mines has
been the largest In their history.
II canont be said that consumers have
any larger stocks now than they had at
The beginning OF the year; In fact. the
reverse is probably the case, so it must
be that the metal has gone into actual
most promising feature of the situation
and shows that the curtailment OF output
will be reflected In gradual reduction
in the surplus. and also that when gen.
eral business revives the consumption OF
copper will take care OF all the redneries
can turn out. The Importance OF this
perlty for the producers, based on
full production sold at fair prices.
The Boston News Bureau says: Devel-
opments In the copper industry continue
to be in the direction Of a reducing sup
ply and the figures at hand this morn
ing, showing a reduction during the last
Of copper amounting to a.626.Sso pounds,
adds confirmation thereto. This consti-
tutes the second largest decrease report
ed since the present movement com
menced on March last
The foreign visible supply on August
Is stood at 216, 6,55s. $50 pounds. figure
which compares with 254 $50, 400 pounds
last six months OF 1881 92O pounds. or
Is per cent. Taken in conjunction with
the surplus shown on August ] by the
American Copper Producers association,
l. Is important TO note that the worlds
surplus since the first Of January last
has shown an Increase of but 2.333,I67
pounds This is In the face OF an un-
precedented output. and the further fact
that the restriction programme lately
agreed upon among several OF the larger
It's efiec, on the refinery statistics.
The statement OF the Producers asso-
clation Tor July. showed that there had
been an increase In the American sur
pounds Basis exists therefore for the
belief that the statistical position OF cop
per for the next few months al least
Will be in the direction Of a Diminishing
surplus which tendency should give some
uplft TO the price OF the metal.
The following table, giving the Ameri-
can. foreign and worlds surplus on
January !, and by months since then up
10 August J. shows how the decrease
In foreign visible supplies since March
] has assisted in keeping the worlds
surplus from running many millions OF
pounds higher than the 4ol 100000 point
reached on July !: