White Pine news. [volume] (East Ely, Nev.) 1920-1923, 1921-05-08
~UTAHCOPPER MANAGER
OPTIMISTIC OF FUTURE

r. G.. Gemmell, general manager
of the Utah Copper Company and as
sistant managing director of the
Jackling interests, returned last Mon
day from a months business trip to
New York City. Mr.. Gemmell takes
a cheerful view Of the future, basing
his optimistic conclusions on the
present conditions. which he believes
are about as bad as they can be. and
that improvement should soon set ill.,
especially in the case of a nation as
sound economically and as richly en-
lowed as The United States.
Mr.. Gemmell sees a great campaign
OF building and construction work
ahead. Particularly in New York
and Chicago is capital anxious to
start the erection OF buildings SC
pressingly needed at present. A
great deal of building is bound To
start as soon as the differences OF
opinion existing on the scale OF
wages can be adjusted. and, in Mr..
Gemmell's opinion. as soon as this
work starts the market for metals,
particularly lead. zine and copper, is
bound 10 lake on a more heaithfui,
buOyant tone.
OIt rather SiEniA4IdAA iA0aNdAAOb
which may be used as a basis for an
optimistic feeling is the improvement
upon the New York stock exchange.
according TO Mr.. Gemmell. During
the last two weeks improvement in
the volume of business and the one
of the market has been marked. This
improvement alone. in Mr.. Gemmell's
estimation, is an excellent indication,
. nZ4fff~ an 4ha afnaK axabQ O0
stands as an accurate barometer for
prognosticating the conditions of
business ia the next few months.
Euying movements. which generally
indicate an optimistic attitude to-
ward business ON the part of the
we'll informed. generally precede
periods of prosperity. he said.
Another factor which is operating
II depress the price of copper and
other metals is the condition of Eu-
rope, according to Mr.. Gemmell. As
soon as the terms of reparation are
settled and European nations have
adjusted their differences so that the
work OF reconstruction can be begun
and continued without interruption.
foreign demand for copper should
improve. There is little doubt. from
s1dl MI 1Cuaulcii tOulu ASCERTAIN III
the east. that these countries have
pretty well consumed their stores of
scrap metal and need large supplies
OF new copper. That this is the case
Is indicated by the purchase OF metal
by both Germany and France during
the last two weeks. A large part OF
the domestic copper during normal
times was consumed by European
manufacturers. Consequently with
n OF Americas chief consumers not
buying the metal 1t must be aeknowl-
edged that the condition OF the cop
per market will depend greatly in
the future. as II has depended in the
past. upon the economic health of
Europe. Important work in the fin
ancing of sales of the red metal to
Europe Is being accomplished by the
Copper Export Association, according
10 Mr.. Geumell
As far as the Immediate condition
OF business in the east is concerned,
most large corporations are waiting
until readjustment has been accom-
plished and economic conditions are
once more on a firm basis. says Mr.
Gemmeil. During the last month
there has been little change in the
condition of the copper market. he
said. with the exception that the sale
OF the metal was better than 1t had
been.