The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1912-06-20
THE COPPER SITUATION.

Statistics of the American Copper Producers association
indicate another reduction of surplus to the amount OF 10
pounds This resulted not through any lessened de-
production, which in fact trfe greater than
Tor March April but because of increased domestic
sumption and exports The price Of the metal continues to
climb and there much speculation to the soundnes OF the
apparent demand is to be remembered that buyers sell
dom stock till convinced that prices to rise and that they
usually into the market with rush. AT the same time
there is widely current feeling that tremendous deal be-
ing worked out The press agents work is being handled
most admirably the only possible criticism being tendency
to overwhem with denas when discrepancies pointed out
The worlds surplus has disappeared but there something
mystery just where it went the face of record pro-
Iducon that not matter for Boosting just at this time It
lis indirectly admitted stated upon apparently good author
ty that the operating pool of producers which took the
ket in hand last fall bought 100000 pounds Of copper It
only natural to asks Was this all that purchased where
it, has been Sold is taken into account in the monthly
figures given out it in dead storage Copper prices
going up spot quoted II IA cents but this very fact may
mean pinch for the operators The real question u.s. have
operators the pool been able market any of the metal
which they have accumulated? 1t is not particularly hard
matter for with long purse to engineer rise in the price
Of commodity stock the real work in unloading the
accumulation at profit In brokers' parance these opera
IONS which 60 hand in hand, known drumming cor
ne which not primarily such difficult matter and bury
ing the corpse it is in the unsuccessful attempt accomplish
the latter that market manpuaors most often grief
There no thought of financial disaster overtakng the
men who at the moment behind the movement "copper"
but the fact remains that mine output is increasing and likely
the next few months to- further increase largely and it
would seem to be not unsafe prophecy that the copper stu
alton is to be kept in hand another of curtament will
become necessary It quite true that producers are stat
ng publicly that increased production will be boom that
otherwise the price not be held down and runaway mar
1et will ensue The manipulation of let the
market take of ITSELF if he not sell he buy; the
moment he fails to maintain the price his corner crunbes
There may not be any copper every copper
authority up in procamng loudly that there is not
out there signs that would justify activity by op
eratorat least feeling out of the stuatonwere it
the practically nvncbe financial strength of the men now in
control
The gst Of the whole matter is very we'll summed up in
paragraph in interview given by authority copper in
New York; Some surprise has been expressed that the cop
price OF the metal during the past eight months The answer
smpe there never much doubt the genuneness
movement in copper there concerning the present one
When the public realizes that copper share earnings are go
to very handsome during the few years. stock mar
iet quotations will commence thoroughly to discount
hem than they have yet done If the public would onv
come in and buy copper shares large quantities. it would
show handsome profit the entire operation and losses
aiken In the metal could be considered negligible Amalga
mated is climbing for high mark; sold last week 81 49,
which higher than at any time since late in 1909 Dividends
ire being increased in Stances and resumption is talk
"a OF in other and while speculation in the metal is de-
recaed investment in copper shares encouraged in every
way possible In the meantime New York correspond
mt shows the large copper producers rapidly increasing
heir outputs Fundamentally the matter resolves itself into
question of the rate at which production will follow the
increased price.-Mining and Scientific Press