Weekly journal-miner. [volume] (Prescott, Ariz.) 1908-1929, 1914-11-25
COPPER PRICES HIGH
NOW IN GERMANY

\
In a letter to 4. w. Edwards
from E. E. LeJeune, formerly pri-
vate secretary to +. NJ. Murphy,
and well known in Prescott, the
writer speoks optimistically con
corning the copper prospects. The
letter is written from Berlin, Ger
many. where Mr.. LeJeune is now
engaged in the metal business, al
fact which renders him thoroughly
competent to talk on the copper
question from an intelligent stand
point and with reference to pros
poets in a country which is one OF
the largest importers OF the Ameri-
can red metal OF any other IN Eu-
rope. On this subject he says;
Il am not surprised that the large
copper properties OF Arizona are
decreasing their output, as shipments
from the port of New York have
dropped to fifty per cent OF the US
ual amount. At the same time the
price OF the metal in Germany has
gone up fully fifty per cent since
the beginning of the war, and look
for still further advances i'll price.
/ believe an investment in some
good copper stock, which can be
had cheaply now. wouldn't be bad
idea. as enormous quantities OF the
metal are being used up during the
war. and there is no doubt i'll my
mind that prices will go up sharply
after the war is over"
All this is in direct accord with
predictions OF mining men in the
United States ever since the depre-
citation in the price of copper at the
outset Of the war. According to
reports not only Germany, but all
the countries now engaged in dead
ly combat, are gathering up every
piece OF old scrap metal possible and
converting the same into war mu-
nitions. using the same as substi-
tute Tor copper in war implements
which have heretofore been manu-
featured out of the red metal. This
| is on account OF the scarcity OF
copper.
+. NJ. Murphy, speaking on this
subject yesterday said that he was
practically sure this country would
ultimately see a boom in copper
such as it had never known, as a
result OF the conditions mentioned in
the letter OF Mr.. LeJeune. He also
/ said that he looked for rapid I'M
provcment in financial conditions
soon. stating that already the sun
light Of better things in the financial
world was breaking through the
clouds OF adversely which gathered
as soon as the war broke out IN
/ Europe. when the war commenc-
ed" he said, there was an enor-
nous demand for American gold and
the balances were so much against
us that it became a hcrculean task
to handle the situation. This caus-
cd a depression in all financial cen
tiers. which affected the business Of
the whole country. And from such
situation it takes time to recover
\ | believe. however. that bushes:
has already gone far toward tho
rc-adjustment OF these difficulties
and | look Tor more rapid improve
ment from this time forward. And
at the close Of the war the prcdic-
ton Of Mr.. LcJeunc with reference
T., to copper will undoubtedly become
a reality
Asked why the capitalists had moi
organized copper holding compa-
mics and continued the production
Of the rcd metal pending the gooc
times spoken OF, Mr.. Murphy SAID
there was a very good reason
money was not available under tn,
distracted conditions that were pre-.
cipitatcd when the European gun;
commenced to roar" He would moi
predict that holding companic;
would become the order. but intinat-
ed that when conditions reached Z
certain stage OF Improvement sucr
might be the case