The sun., 1919-04-01
PREDICT COPPER TO
HAVE Big MARKET
Producers Committee Returns
Highly Optimistic From It's
European Trip.
GOVERNMENTS OWN STOCK
Labor Troubles and Transition
tO-Peace Basis Are Factors
Impeding Business.

After many weeks OF thorough in
vestigation into conditions In Europe as
they effect tho copper industry In this
country tho committee of leading copper
men who returned from the other side on
sunday are very optimistic as to tho
future Of the foreign trade OF American
copper producers. The members of tho
committee which went to Europe as rep
resentatives OF the Copper Export Assoc
citation. a new combination of producers
organized 10 protect the producers for
eisn trade, were C. r. Kelley, president
OF the Anaconda Copper Company
Walter Douglas. president OF the Phelps
Dodge Corporation; r, L. Agassiz, presi-
dent Of the Calumet and Hecia Copper
Company, and Joseph II. Clendenin, vice
president of the American Smelling and
Refining Company.
G, +, Kelley, chairman OF the conf
mlttee, yesterday issued a statement IN
which he declared that the investiga-
tons Of the committee were satisfa ctorily
accomplished. lie declared that there
were relatively large supplies of copper
on hand In the foreign countries, but
that they were held by the Governments,
and that the industries Of the allied
countries which are consumers Of copper
are entirely without the metal That
there will be a big market for American
copper In the near future Is the con-
clusion drawn by the committee as a re-
suit of their Investigations, according
to the statement. which reads:
The committee of the Copper Export
Association, consisting Of Mesms, Kelley.
Douglas. Agassiz and Clendenin, re
turned from Europe on Sunday. The
investigation OF the statistical position
and the Industrial conditions In Great
Britain. France. Italy and tho Central
Powers as regards non-ferrour metals,
particularly copper. was satisfactorily
accomplished.
stocks of copper. apparently large,
are concentrated in the hands Of tho
respective allied Governments. Ger
many and what was formerly Austria
have completely exhausted theig respec-
tive stocks and will undoubtedly be in
the market for large quantities of COP
per al soon as trade restrictions are re-
moved. The copper consuming indus
tries In the allied countries are without
stocks OF metal. Government stocks are
being used, and will be very much re-
duced In the near future by distribution
among tho consumers. who are now do
ing a fair business.
The solution Of labor difficulties the
transformation Of industrial plants and
transport systems from q war TO a peace
oasis are the factors that are impeding
the resumption Of business. That these
diniculties will soon be satisfactorily
solved and an active demand will ensue
seems certain in addition to which the
high prices at which the Governments
nave held their metals and the reluc-
tance OF consumers to place orders At
those levels have interfered with con-
sumption. but the Governments are now
taking the other attitude and are meeting
the competition fixed by prices named in
this country, which will in our opinion
result In stimulating activity and In an
early liquidation of the Governments
stocks to an extent that will cause the
consumers in these countries to again
enter the market
Great Britain, France and italy have
extensive and ambitious plans under con-
sideration for the identification of rail-
ways and for the construction OF CEN
trally located plants from which cleo
trical power will be transmitted to man
ufacturing and Industrial concerns. These
installations. together with the immsdi-
ate necessity for the replacement and
rehabilitation OF peace industries will
provide an enlarged demand for the
product OF the American mines"
The Copper Export Association was
ioFmeo 10 protect the interests OF the
copper producers In their foreign trade
Several weeks ago II decided that to lay
its plans for the future campaign which
it planned to conduct in the furtherance
OF American copper export trade a first
hand study OF conditions must be made.
With that end In view the committee
consisting of some OF the leading copper
men, was formed and sent to Europe to
make the Investigations which the as
ISOLATION felt must be made and upon
which ths committee 10 reporting.