Yerington times. [volume] (Yerington, Nev.) 1907-1932, 1914-01-10
OPTIMISTIC ABOUT COPPER
SITUATION.
Prominent Mining Man Tells Why
Coppers Should be Good.

L am an Opt1m1St when II comes 10
copper the metal and copper shares.
Copper metal closes the year at Is
cents after going through the Balkan
war, which upset the worlds money
markets and of necessity seriously
crippled business, and brought about
indirectly business depression which
for suddenness has rarely been
equalled.
Copper was upon firm foundation
or it could not have withstood it, but
the past year the world has used TO-
100000 pounds more copper than pro-
duced, and we enter 1914 with total
stock of worlds copper at but u.s.
100000 pounds. With worlds stock of
above 200,0OO,Oo0 at the beginning of
1913, the price was 17M cents, and
yet with reduction in stocks to the
smallest in years, we close 1913 with
the price Is cents.
Admittedly we have had a radical
falling off in consumption both here
and abroad, but there is already evil
dence of revival of trade, and with
business good there is not copper
| enough produced to meet the worlds
demands.
| can see nothing but high priced
copper for some years to come, for
there are no new properties to place
any large production on the market
except the Hidden Creek property of
the CRANKY Co., 100000 to 25,000,-
600 pounds per annum, and the In
spiration property in 1915 of 75,00O,-
600 pounds, and this new production
will only help take care of reduced
production from some of the old
properties
Fortunately for holders of copper
shares, they never reflected market
wise the advance in the price of cop
per at 17H cents, hence in comparison
with railroads and industrials they
have not shown such large decline.
AT the beginning of 1913, the price
of 20 active coppers stood at 44.9o.
They now stand at IS, and as late
as last September, stood $3.50
| The Mexican troubles and the
Lake" strike naturally affected Sc
curities of companies operating in
those districts, but there have been
no dividend reductions except in the
| case of Mexican and Lake companies.
Some people regard coppers in the
light of pure speculation, but in many
instances they can be regarded in the
light of high-grade investments with
a liquidating value far in excess of
selling prices Such properties as
Utah, Chino, Ray, sInspiration, Bra
den, can all be so regarded as future
dividends can be regarded as secure
as many high-grade railroad and in
dustrial issues, while there are like
wise no stocks that present greater
speculative possibilities than copper
stocks owing to the fluctuations in the
metal
Coppers should appeal to many peo-
PIE because lHey are HOT SUBJECT 10
tariff changes, government investiga
tions and prosecutions. The shares
of the companies are now selling at
extremely low figures, notwithstand
ing that the industry is relatively pros
porous and | predict that in the next
wave of bullish enthusiasm in this
country the copper shares will be
leaders, and certain copper shares will
double and treble present selling
prices That is some optimism, but
it might be we'll to record that cop
pers have during the past year been
liquidated to rock bottom figures and
that in years past they have sold at
double and treble present prices when
the future of the properties and metal
conditions were no brighter than now.
w. F. Bartholomew in The News
Letter.