The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-11-03
UTAH HAS WORLDS
GREATEST MINE
Charles Hayden Thus Desig-
mates the Utah Copper
Mine of Bingham.
COPPER OUTLOOK FINE
Reasons Given Why Copper
Metal Is Better Placed
Than Thought.
COPPER OUTLOOK FINE

To the state OF Utah was given Thurs
day the distinction OF holding the sroat-
est copper mine in the world. the utal
Copper OF Bingham, by Charles Hay
den, Of Hayden, Stone & Co. OF Boston
and New York. Mr.. Hayden reached
Salt Lake late yesterday from tue east,
accompanied by Charles NJ. MacNeiii.
president of the Utah Copper co c9mP"hy nd:e !,
Spencer Peurose, secretary. and JnoGe
X. r. Bebbitt, general counsel foi this
and allied organizations. r,
These gentlemen were seen by ne
all agreed that this visit TO the various
mining properties in which they arc IT.
terested Will be one of unusna! lnteIest
owing TO the fact that since thcy lsst
made the swing round the porphyTy CIR,
Gle the Utah Coppers own railroad slt
Bingham. the Bingham & Garfield. mas
been completed and placed In operstioln.
while the concentrating plants OF the
Ray Consolidated and Chino companies
also have been placed In service
Greatest Copper Mine.
AIR Hayden said in regard TO the Utah
Copper company that those VINO were
sufficiently interested TO read TIC lhsI
quarterly report must have recognized
that this was the greatest copper mine
In the world. and those connected witl
the company know this "a be a fact, as
others who may doubt will know I'm time
These visitors will so To Bingham TO-
daY with General Manager ID. {. lacking
and Saturday they will leave with MI.
JacklnS FOR the Ray Consolidated anu
When asked fpr an expression in re
Sard 10 the copper metal situation, Mr.
Hayden said;
THE metal situation is much firmcr
than is commonly assumed TO be the
case. The foreign purchases were very
regular and satisfactory up 10 the time
At that time foreign purchases slowed
up materially. and there was slight
increase In the foreign visible supply on
October l.
Foreign Stocks Decrease.
October IL. however. showed a larger
ioreisn decrease in two weeks than has
been shown In any preceding similar
period. which once more led to increased
purchases. and while the exports for the
month of October Will be somewhat be-
running for the last few months. and
this may lead TO an increase in the
American visible supply, as VIII De
are TWO facts which should be contiu-
uaIly kept in mind; first. that this new
porphyry production. which is consid-
ered by, some bug bear, Is absolutely
essential. to replace the exhaustion OF
such mines as have seen a big diIninu
tion In their product and reserves the
lnsr two years, and whose shares have
low ones. due TO the cNhaustions OF their
ore bodies; and second. the manufac-
turers arc so satisfied that. with the in
creased new production, there viii be
they are carrying absolutely no stocks
on hand. as Is evidenced by the demand
being great for immediate delivery cop
per. This situation is go healthy that
with any Improvement in general bust
ness, l look 10 see a higher price for
the copper metal.
No Spot Copper.
"Thc production Of our own mines has
been steadily sold by our selling agents
aud We arc sold UP TO January |. The
sales of the other leading agency. which
have been very heavy the last two or
three weeks. make me believe that there
Is practically no copper. at any amount,
available for sale previous 10 January
delivery"