The Parker post. (Parker, Ariz.) 1910-1918, 1916-12-30
PEACECANNOT
HURT COPPER
COPPER METAL SECURITIES ARE
SAFEST OF ALL INVESTMENTS
AND ASSURED MANY YEARS o
PROSPERITY.

While the copper shares markets
were in the thrOes of a serious de-
cline, caused by the heavy liquida-
lions of all classes of securities that
was induced by the 'Teutonic peace
proposals, the market for copper
metal remains firm as a rock, says
New York dispatch. Quotations
from all positions Of the metal at the
end Of the week were practically UNI
changed from those quoted on the
previous Saturday. Such declines as
took place would, in ordinary terms,
cause no comment whatever.
Just now, the resistance Of the
metal market in the face of the
break in the stock market must be
accepted as a tribute to the sound
industrial condition of the country,
1t is a convincing argument that pro-
ducers Of metals have nothing to fear
by a cessation Of hostilities in Eu-
lope and that the interests controll-
iIgthe metal markets are better in
formed as to the actual trend Of af-
fairs.
There can be no question Whatso-
ever that the copper metal dealers
and producers are well sold out over
4 large part CT next year. Copper pres
ducers regard the eventual termina
ton OF hostilities in Europe-Whethe
near by or distant-with eQuanimity.
John d. Ryan, president of the Ana
conda company, the largest Individual
producer CT copper metal in the
world, went Oh record in recent an
nual- report OF that company to the
effect that a high range of prices for
copper metal must ensue for a num-
Der of years after the war is over
Other noted copper authorities agree
with Mr.. Ryan.
A price of even 20 cents per pound
for copper will mean: profits to the
metal producing companies on a scale
that was almost undreamed Of before
continuance Of dividends at the ex-
isting rates for practically all of the
companies, because most of the cop
per producing companies are earning
several times their dividend require
ments, and investigation shows. that
the amounts called for by the exist
ing rates will be amply provided for
with 2Orcent copper metal market
The copper producing companies
lave adopted a policy Of conservat-
SIN and established dividend rate
which it is expected to maintain for
lions shall have passed and the needs
FOR peaceful industries will be the on
~ outlet. The accumulation of large
surplus cash reserves in the treasury
OF the copper producing companies
are fortifying them so that they will
De able in the future to finance their
own stocks of copper metals, whereas
in the past they have been under the
necessity of seeking financial assist
ance from the banks, with the result
that, despite their own better judg
lnent and under the pressure of for
elgn purchasers, they have been com
PEELED to liQuidate their stocks of cop
per at reduced prices
Before the war the United States
was responsible for about 50 per cent
of the worlds output of copper. At
the present time We are producing
better than 80 per cent of the worlds
output. Despite this predominant
position, from the production stand
point the metal producers in the past
have been compelled to sell their
metal abroad on the basis of London
quotations, which were manipulated,
not to the advantage of the Ameri
can producer but to his disadvantage.
The American producer, partly due
~ llle 1llll-Il uSI Id VS. Ol IulS COuuIly
and partly due to the necessity of
his seeking banking facilities in order
to carry his metal stocks, was unable !
to Withstand the pressure from abroad
that from Germany Ger
man metal enterprises may be said to
have controlled backed as they were
with the financialsupport of the Ger
man government. The present strong
financial position Of the American
producing companies due to the con
sentative policy of Withholding a
large part of their profits as a bull
wark against eventualities, a guar
antee that henceforth the American
producer will have the upper hand in
tho fol nh +o of he