Show I II EJ StART MOVEMENT IN NEW NEVI COPPERS Utah Copper and Nevada Con Make Strong Gains on the Stock Market With the recent quarterly reports of Utah Copper and Nevada Consolidated finally digested the east yesterday began real r 1 buying of the porphyry pro producers prodUcers The result was that Utah Cop Copper Copper Copper per which two weeks ago was at 40 46 old sold up to a share and Nevada Con Consolidated solidad went to 2887 88 with close to 30 shares of the stock of each of ot those companies changing hands on the New NewS NewYork York market The newer companies like likewise likewise wise had their share in the movement Ray Consolidated having been strong at 2150 and Miami going up to 1812 New Yorkers were freely predicting that Utah Copper would go to a share on the present movement For some time strong eastern interests have been boosting the old coppers Amalgamated and the Lakes upon the strength of improvement in the copper situation generally and for some reason rea on onIt it has Just dawned upon Investors that where there is one reason for buying the securities of those companies at least three reasons may be cited for taking on the stocks of the new producers which have the best part of their rec records records records before them em Utah Coppers Great Showing Utah Copper for example ex which has in insight Insight insight sight a great deal more snore ore than have all the mines of Butte and which is Just striking its gait in the matter of low cost production is showing a larger per percentage percentage percentage of earnings on the market value of its securities than is Amalgamated Utah Copper is in position to continue in increasing Increasing increasing creasing its earnings with the price of copper at its present level while willie the older companies can hope to show such increase only through the price of the metal ad advancing advancIng advancing Utah Copper for tor the third quarter of or orthe the present year reduced the cost of pro producing producing producing its metal to very nearly eight cents a pound flat as against a cost of 9 cents for the preceding quarter and it showed net earnings of o or close to 4 I a share a year as against for forthe forthe forthe the preceding quarter And this was waa ac no accomplished not alone by increasing the tonnage of ore hauled In its mills but by increasing the saving as well welt This remarkable showing taken in connection con connection connectIon with the prospect that the com corn milling capacity is shortly sh to be Increased and with the knowledge that the tho low cost producers must as a matter of course gain their full share of the tho benefits to accrue from an advancing cop copper copper copper per market is what has turned the at attention attention of investors more strongly to Utah Coper and the newer companies which occupy a like Ilka position in the copper field That the copper situation is much brighter than It has been at any time be before before before fore since the slump of two years ago Is admitted by b all experts While Willie production lion tion has han increased consumption has been Increased at greater ratio It has hall ha been discovered that accumulation of stocks was due not to decreased consumption but to the action of manufacturers in permitting their stocks to run low With an accumulation of ot only pounds for Octol October er as shown by the statement of at the tho Producers rs association the heaviest sales for a long time Ume have been made in tn November and it is known wn that the cop copper copper copper per sold was needed that it does not go goto goto goto to glut the market Then there appears app ars to be no doubt that some sort of agreement nt has h 9 been virtually reached by the large producers an agree agreement agreement ment meat which will make snake the market pore nore stable Consumers it is pointed out would rather s see eo o copper at 15 cents a II pound on a stable market than to have it go lower with the knowledge that violent fluctuations must come The best au authorities authorities authorities confidently predict copper soon after the first of the year with a de dc demand demane mand mane which will readily absorb the pos possibly possibly sibly increased production |