The sun., 1919-03-13
COPPER COMPANY
HEADS OPTIMISTIC
Stephen Birch and d. c. Jack
ling Are Confident of Flu
ture Market Activity.

Two more copper men, Stephen Birch,
president of the Kennecott Copper Cor
poration. and Col. D. C. Jackling, man
aging director OF the four porphyry COM
panies, have come forward with very OPP
timistic predictions as to the future Of
the copper industry. Mr.. Birch only re-
Gently returned from Europe. where he
studied very closely the reconstruction
situation as It would affect the copper
market. He declared that because Eng
land. France and Italy were considering
the electrification of their railroads they
would be some time in the market for
large amounts of copper. The electrifca-
ton plans, he said, were well under way
before the war started, but were inter-
rupted. only by the conflict.
1.-THE lesson learned by those countries
during the war. through the difficulty OF
obtaining coal, "he went on, no doubt will
hasten the adoption 81 this means of
power on the railroads of those countries.
They are all talking about il, and as soon
as they have recovered from the effects
of the long war no doubt active steps
will be taken u bring about the results
Just outlined.
Germany is denuded OF copper, az
lNcording to reports which received while
abroad, and eventually should be large
purchaser OF the metal in this country
and 1t Is only a question of what ar
rangements she will be able to make to
paw for Il. This great shortage of cop
per in that country was demonstrated
by the fact that other metals We're used
in the manufacture of ammunition, wire,
&c, used at the front during the latter
part OF the war.
There are large stocks OF copper at
present in Great Britain and France and
il probably will be some time before
those countries enter the American
markets for the metal. Eventually they
must purchase large amounts from US.
The people in Great Britain. France ana
Italy are tired and endeavoring to get
their bearings before taking decidedly
aggressive steps in any direction.
The immediate outlook for the cop
per situation is not favorable. No cop.
per 10 amount to anything is being sold
at present and all companies have large
surplus stocks. II Is impossible for mines
to shut down entirely because this would
disrupt organizations. The producing
companies are compelled to continue pat
ting moro money in copper for which at
present there Is no market Stockhold-
ers Of the copper companies must he
patient as eventually the situation Is
bound to work out satisfactorily.
80 long as the balance of exchange
| is not in favor of Great Britain and
France II Is not likely that those coun-
tries will buy more products In the
United States than they are compelled &c
and with their present substantial stock:
OF copper on hand there is no immediate
indication Of their becoming heavy pur-
chasers OF the metal"
| Col. Jackling also is extremely conf
dent as to the future of the copper in
dustry. NO man can safely predict
he said yesterday. having come to New
! York on n business trip, "the immediate
| future OF the copper situation But
have no doubt that REIMBURSEMENT con
| struction work abroad as well as In tht
United States will place copper on firm
| basis.
1T is like going through hard win
ter. You cant tell how long it will last
but we know there will be a spring, ant
this should be followed by growing
summer. So far we are disappointed bu
not discouraged.
Al Nevada Consolidated rs well a!
our other plants things are In as gOo'
condition as can he expected when W.
are running at about half capacity. w,
| intend to keep things going as long a
we have money or can borrow. coniiden
that copper will ultimately be on n sub
stnntlal and profitable basis. At pres
ont cost Of production is IN excess o
market price"