The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-09-28

Will DC 1ornfed.
Mr. Corey arrived in Chicago TO-
day, after having completed an
inspection Of copper properties in
Mexico and in northern Michigan.
"HAT the copper merger may be
nearer consummation than is
generally appreciated, is evident
from a dispatch received yester-
dav from Chicago. TO the effect that
representatives of the leading copper
interests were 10 meet in Chicago to-
day and the matter Of organization
taken mp. John d. Ryan was expected
in Chicago last nigh, also w. h. Co
rey and r. l.. Aggasze. all three, of
whom are said to have spent the past
two weeks in the southwestern copper
fields of the country.
Among others already reported on the
field are John Mclean and John Sede-
MUS of Duluth, while representatives OF
the Guggenheim and the Rothschilds
interests are expected this morning.
The merger if perfected, will doubtless
be formed under the laws of Great
Britain, in which manner the copper
hub of the world bids fair 10 he cen
tered in London. far beyond the influ-
encc of the United States and its in
ouisitive habits in regard TO corpora
tiops and corporate affairs.
4 copper merger has been mooted
for two wears or more past, and Just
prior 10 the decisions handed down by
the United States supreme court IN the
STANDARD Oil and American tobacco
cases, there were several meetings held
in New York city at the behest OF John
d. RYAN. president of the Amalgnmated
4 Ha
of The sessions being to talk over such
a red metal proposition. The decisions,
however, in the two important trust
cases mentioned put a dampcr on the
whole matter and nothing has leaked
out since until the Chicago conference
here described.
Significant Visits.
Mr.. Ryan's reported visit throughout
the southwest accompanied by Mr..
Corey. the steel magnatc. naturally Gre
ated the conviction that they were work
ing along such n line as a merger IL
likewise is significant that j. Parke Chan
ming. one Of the noted copper experts
and mining engineers OF the country. re-
Gently completed o swins round The
among other spots in his rounds. Mr..
Claiming doubtless VIII play an lmpor-
tant part in a merger; also the Gng-
ests with their porphyry propositions and
smeltcrs
A copper merger is locked to tor re-
lief from much of tho woe which the
Industry is now suffering. Copper is
about the only great industry controlling
ono of the most important commodities
of the world that is not Within the con-
troll of the producers Pro6ucers have
not been proceeding along lines calcu-
lated 10 protect their own interests. but
the consumer has been protected instead.
and M to just recently Il was more of
C0mDeflflOn
du!ced In rather than a procedure 10 the
best interests Of all concerned,
Advent of Porphyries.
Tho so-called porphyry propositions
have rcvolutioniZed the copper produc-
ing industry. They were formed for the
express purpose of putting the old-fash-
oreG vein mines out OF commission. Tor
the low cost OF tho newer producers would
permit such TO operate when higher cost
producers would bc compelled either 10
output at "A loss or cease altogether. The
war TO the knife promised by the advent
OF tho poVphyries failed TO materiaiiZe,
however which was illustrated beyond
question by the agreement entered Into
n year Ego by all the large interests 10
adopt policy since become famous as
the copper curtailmsnt programme, Bet
ter feeling began to prevail among the
producers with the successful operation OF
the curtailmcnt policy. and producers then
began 10 realize that by continuing past
and antiduated business methods they
were playing into the hands OF the con-
sumer relieving him ot carrying the sur
plus copper and tho producers themselves
were assuming this expensive and unsat-
!sfactory burden.
The merger would do away with COM
petition among the producers 10 an ex-
tent that would harmoaizs production
with demand. II means far more stable
price for the metal and Unquest!onably a
higher price With consequently more sat-
isfactory earnings for stockholders. I'm
less the brainy men back OF the merger
can devise some means OF preventing the
doing away with securities Of individual
producers, such deal Will involve the re-
moVnl OF innumcrable copper issues from
the speculative markets and with such a
deal once we'll progressed there 1atur-
Gily viii arise all sorts or doubt regard
Ing the market well intrinsic value
OF tho numerous copper stocks certain
TO be affected,
One result however, will be certain
and that Is that the metal Itself VIII cX-
pcricnce n healthy and timely reaction
and the reported meeting for today is
really the only bright spot for the mo-