The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-11-21

COPPER PRODUCERS
WILL ORGANIZE
Plan to Control and Regulate
Trade and Block
Foreign Rivalry.
WILL PROMOTE EXPORTS
Agents Of Allied Countries
Making Inquiries as to
Large Orders.
WILL PROMOTE EXPORTS
The ar.. important step to be taken

The frst Important step 20 be taken
In the field that was opened by the
Webb bill. whereby corporations are
permitted 70 combine for the purpose
OF promoting export business, will be
taken to-day at meeting Of the cop
per producers Of the country. when q
project Will be launched for q huge
combination, which viii have as ita
purpose the controlling and regulation
Of the foreign business in copper metal
after the war.
The meeting will be attended by all
of tho leading copper producers Of the
country, and. Il Is understood, plans
will be approved for the combination.
This ultimate purpose Of tho combine IL
10 promote export trade after the war,
but its immediate purpose will be to
protect the industry against similar
combines that are being formed by for
eign countries for the purpose OF rur-
chasing copper metal In this market
The full list of those persons who
will attend the meeting eeuid not be
aEcertained, but It Is understood on high
authority that they will include repre-
sentatives OF the American Imeltiug
and Refining Company. the Anaconda
ZOpPcA Company INC CId copper
company, the kenneoott Copper Cor
i,otation. PheIps-Dodge Company ana
;tll OF the less important concerns
Working agreements and understand
iTgs between representatives Of an in.
dustry are permitted under the webb
bill. and II IL contended by those who
+. are Interested In the proposed eombi-
nation that the copper industry would
come under this head. so far as It's ex-
port business Is concerned. Heretofore
nearly all Of the companies have been
forced 10 maintain separate selling or
.gari1ations in the principal foreign
countries. and It IL assumed that these
VIII be abolished now that central
body viii control the Situation.
One Of the main purposes also IN
FORMING the combination Ia to safeguard
producers in this country against the
. organization of foreign purchasers. who,
undoubtedly having the backing OF moral
support, Of their respective Governments,
might be In position to dictate the
price Of copper
AT the same tins yesterdays an
nouncement was made concerning the
proposed combination, announcement was
also made Of the formation Of a COM
mission for the purchase of copper here
by the Governments OF Crest Britain,
France. Belgium and Italy. all of which
II 10 understood are greatly IN Heed of
copper at present for the postwar ac-
tivities. At least one OF these Govern
Inents has already approached the War
Industries Board and the producers in
dividually with an inquiry. for approxi-
nfately 400,Oo0.000 pounds of the metal.
The inquiry was of an Informal char
acter. however. and It Is understood that
the producers were Informed that II was
fhe Intention OF the Government involved
TO await until II could obtain the metal
AT more favorable price. The price
suggested as a reasonable figure for the
copper was slightly more than Is cents
pound. as compared with 26Y cents,
the price fixed by the War Industries
hoard as the official price for tho period
between now and January I.
Whether this inquiry had any con-
Rectlon or tended to bring TO a head the
proposed combination could not DO
learned. but 1t Ii the purpose Of tho
combination to maintain prices as near
the present level az possible until the |
readjustment period is over and to bring
about more stable condition of the
copper Industry as concerns the foreign
field.