The Birmingham age-herald., 1916-03-09
PRICES OF COPPER NOW CONTROLLED
 IN UNITED STATES
No Surprise Caused by Metal Exchange of London Sus-
 pending Quotations
LARGE QUANTITIES BOUGHT BY GERMANS
Metal Is to Be Delivered After the War Ends-The Allies Also Are Expected to Make
 Heavy Demands
By HOLLAND

AedFy OClhduuo
 By HOLLAND
 New York, March Special l-Man! persons have spoken of certain features of copper production and copper mar 1eting as almost paradoxical saying that ir view of the high price exacted fol copper 1t seems a strange thing that the securities which represent copper proper ties seem not to be popular and certainly are sluggish. It is, however, deemed not a very important question excepting pos sbly to some of those who have invested money in copper stocks. Apparently il does not greatly concern the men Who are eminent as producers of copper.
 A few days ago a report came from London that dealings in all metals, ex- cepting tin, will be suspended until mem bers of the London Metal exchange, have interviewed the minister of munitions The suspension of dealings in standard metals was reported to be due to the attitude of the British government with respect to speculative trading, which the government declared would not be per InlLI6u III IuGldlS uoSN iit shO AAeeiiNAeiNsHA of munitions.
 Of equally high authority, with two of three others whose vocation is the min ing and marketing of copper, is John D Ryan, president of the Anaconda Mining company. MT. Ryan has said that the suspension in the London Metal ex- change except in tin, caused no con- cern and no surprise in American copper circles.
 ;,,+a Ia made by MT. Ryan, however, was the assertion that London no longer controls the stand ard metal markets, and, in fact, has not done so for years. The reason why our American domination so far as the metal market is concerned Is maintained and cannot be taken away by London is found in the fact that American cleo trolytic and lake copper make the price the world ovet Speculation in copper 1T London represents the efforts of meta dealers either to depress or advance thu price of copper stock.
 AMERICA MAKES PRICE,
 Some years ago, Charles F. Brooker president of the American Brass com pany a corporation which is the larges single industry engaged in the manufac ture of commodities into which copper enters as the principal part-an industry whose output before the war was in the neighborhood of $90,000,000 year-stateo that in spite of it's desperate effort tt retain domination over the standard metal market nevertheless the United States had wrested that pdwer from London and in all probability would maintain 1t for many years.
 MT. Brooker also spoke of this as il marked contrast with the domination maintained by England in fixing the mar ket price for cotton and also for wheat When in the early eighties Prof. James Douglas perfected, in his refinery at Phoenixville, Pa., the manufacture of the first commercially available electrolytie copper and placed it upon the market, he was persuaded that the time would come when this form of merchantable copper would command the market, and as the mines of the far western states, espe- cially Arizona, then territory, were be- ginning to give evidence of inconceivably rich deposits of copper, MT. Douglas was also persuaded that the domination of the copper markets would pass from London to the United States.
 It would not have so passed had it not been for the discoveries of copper and the workings of mines in the Rocky mountain states and later in California and Alaska. Smelling in the east was unprofitable because the eastern copper mines were eXhauSteu.
 The men of science and the engineers taught the copper miners of the west how with economy and efficiency they could establish smelter plants near the mines and in that way theAselves command the copper market
 1t was the combination of science with capital which has made possible the ac- cepting of the worlds vast demands fol copper at this time These demands an6 the manner in which they are met are frequently spoken of by men of affairs as not the least among the many extra ordinary developments in industry whicl have characterized the United States fol the past 25 years, and especially since the European war began.
 PHENOMENON OF COPPER Germany is reported, although the re- port lacks confirmation, to have pur- chased a large amount of copper in ths United States and to have paid for it This copper is to be held here until tho I European war ends. The transaction which is thought to have been accurately reported except, possibly, in the amount is regarded as an infallible indication a. to what Europe's need of copper will bt after the war has terminated. England needs copper for her war-munition manu factories, but England will need vas amounts of copper for other purpose. when the war is ended. That is true als( of France. Belgium is expected, if he sovereignty is restored, to approach thu American market for copper with whicl to aid in building up her industries. The stupendous development of the commercial use of electricity and the al ready large and presumably larger de mand for copper hereafter for hydro-elec IA. J<1l ,, the expectation that no matter how larg | the supply of copper from American mines in both continents may be, never the'ess the demand for copper will con 1 stantly match the supply.
 When Phelps, Dodge & Co. began. witt the expert assistance of James Douglas to invest in copper properties in Arizona | in 1881, the market price of copper wa about 20 cents pound There was a de preciation which lasted until 1885, ant which cut the market price of coppe nearly in two. Then there began the de mand which came from those who wer utilizing electricity for commercial pur poses whereby the price was increased But at no time since the early days whel 1 the manufacture of brass was in it's in fancy and copper then commanded price as high as 30 cents pound has tn price approximated that figure until tn present time.
 Whatever reaction may follow il | American industry after the close of tn war, those who should know are conf dent that copper will maintain and in crease it's almost pre-eminent relation t. American mining industry of standar, metals,
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 Increase in Revenue
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