Douglas daily dispatch., 1926-10-19
Weekly Copper ReUieuO
ny Charles f. Willis, editor. The
Mining journal, Phoenix, ArizOnn)

(By Charles f. Willis, editor, The
Mining Journal, Phoenix. ArizOnO
The copper situation Is wancerinE
aimlessly, with a tendency towards
lower prices, with the fabricators
laying off the market and with
nominal offerings of copper at IA 1-S
to IA IA cents. These offerings are
largely coming from the custom
smelters in an effort to fix the price
at which they are willing to buy the
metal, but it is generally concedeo
that should a market of consequences
develop, not much copper would be
found at this price.
The feature of the copper news of
the past week has been the compile
tion of the plans for the association
or Copper Exporters, known as the
Copper Exporters, Inc, and its APP
proval by the federal trade commits"
sion.
Sterilization of the price of copper
in domestic and foreign markets will
be effected through a combination or
American producers, acting with, the
approval of the United States govern
ment. The plan provides for the Co.
operative action of numerous of the
larger producers.
A new company, Copper Exporters
Inc, has been formed, including vir-
tually all the leading producers or
the red metal in the United States
with certain foreign producers and
sellers and, it is claimed, represent,
ing the largest aggregate in the
world of invested capital for the
purpose of handling exports
The combination was approved by
the federal trade commission in a
decision handed down at Washington
during the past week. Organized
under authority of the Webb Pom,
creme act, the application of the con.
solidation for federal approval had
been before the commission several
weeks before the decision was reach
ed.
G. F. Kelley, president of Anaconda
Copper company will head the new
organization. Following a meeting of
copper exporters executive committee,
Kelley outlined the purpose in view
in the following, statement:
Copper Exporters, Inc, is an or.
ganization of American copper pro,
ducers and sellers of copper The
purpose of the organization is to en-
deavor to eliminate in foreign coun,
tries the harmful speculation that
causes wide fluctuations in price, un-
warranted by industrial factors IN
European markets, and tends to ce.
stroy confidence in thu integrity op
such price and stability of the busi-
ness. The operations of Copper Ex-
porters, Inc, are entirely within the
! Limitations fixed by the Webb ac,
and additions thereto
American producers OF the com
modify may join to protect their
+. marketing of chelr product In for
eign markets..
"The need for such an organiza-
who has followed the trend of foreign
copper market, especially slnce the
war Wide fluctuations IN prices,
working hardshirs on producers ana
consumers alike, speculative move-
nlents engineered by foreign deal
ers who have no financial interest IN
the production of the metal, nave
produced situation in foreign mar
kets intolerable from the producers,
point of view
The effort will be made to sen
direct to consumers except where
conditions make it desirable, in IA.
cilitating export trade to sell to as
tributors. All effort will be made to
eliminate harmful speculation in con-
per-