The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-12-19
COPPER IS GOING
TO RISE STEADILY
Big Interests Are Guarding
Against Anything Like
Runaway Market.
BUT NO SLUMP DUE
Wall Street Journal Gives
Much Credit to John ID.
Ryan of Butte.
BUT NO SLUMP DUE

with a reduction in surplus copper
stocks last month OF nearly 10000. 900
pounds I'm this country and abroad, the
copper producers are IN a stronger posi-"
ton than they have been in two years
IL would not be difficult To advance
prices beyond tho present level OF 1"s"
13i cents a pound but IL appears TO ne
tho object of copper interests TO prevent
a runaway market. In other words. CT
forts viii be made 10 maintain reasonable
prices and the present rate OF consump-
ton. which Is larger than II has been IN
months. says the Wall street Journal
For the pronounced improvement OF inc
metal market, n great deal OF credlt is
given 10 John =. Ryan. president OF the
AmalSamatod Copper company and head
~ the United Metals Selling company
For the last year or more Mr.. Ryan has
taken n firm stand on copper insisting
that the position Of the industry did not
warrant Tho sacrificing OF prices. he
pointed 10 the diminishing stocks Of III"
metal and Increased consumption. and IN
sisted that there would BE- no Increase
in production sufficient TO influence lower
prices; generally that The market Was
destined for an Improvement rather tina
3 decline.
Leading Factor
There were few who agreed with the
position taken by MI. Ryan and tnc
result was that copper declined al times
10 around II cents pound. The untod
it's product at prices that other copper
companies were willing to accept. and tho
Metals Selling COMPANY for the current
year sold It's copper from 1 10 Of cent
u pound above tho quotations of its COM
pctitors. John II, Ryan. as head OF the
Amalgsmatcd Copper company and the
United Metals Selling company, Is now
regarded a the leading factor in copper.
Tho Metals Selling company acts as the
selling ssont of close 10 500. 600 600
pounds Of copper q year, which amount
will be greatly Increased through tho
acquisition OF the Globe camp.
II is estimated that tho Anaconda Cop
pcr company, on a basis OF l32-ccnt cop
per. would earn close 10 Sl2.6oo.ooO a
requirements This IS at the rate Of Sc
q share a year compared with the cur
rent dividend rate or So n share. The
Anaconda properties arc producing at the
rate OF 265, 0o0, 600 pounds OF copper q
year, which amount can be considerably
iucrce ed. AS a result OF close attention
and the introduction OF economies in geu-
eral. the average cost per pound OF cop
per produced by the Anaconda is now
close To 2 cents.
Utah Copper and Nevada.
Other copper companies are doing az
well. proportiorately. The Utah Copper
company. on production OF los, 900, 900
pounds year and cost claimed 20 be
$500. ooh a year The. Nevada Consoli-
dated. on production Of $4,000, 600
pounds n year. is In Il position Ia earn
$4,000 400 year on 13s-ccnt copper AS
the Utah has an equity OF over so per
cent in the earnings Of the Nevada. this
would make Utahs annual income over
$500 000 a. year, or $500 share, com
pared with the present dividend OF 81
annually. Nevada Consolidated Is pay
ing out $50 share TO shareholders and
earning s2.25 a share.
On basis of 124-ccnt copper. the diff
fcrent copper companies were Gaming
current dividend, but did not have much
to spare. The above h5urcs show what
an advance of u cents a pound means
In earnings 10 the copper industry in
general.