Show L COPPER INTERESTS I IMAY MAY GET TOGETHER I Merger Is Unlikely but Producers ers May Agree to Limit Output It is admitted by bl the large pro producers producers prOducers that a combination of the leading le copper Interests of the country Is re remote remote remote mote On the other hand it is Le not de dO denied denied nied that efforts are being made to cre create create ate some sort Eort of an organization or com community community of or interests arrangement where whereby whereby whereby by the copper industry in th future can bs bJ b moved along more regular lines pays laYS the Wall Street Journal Copper reducers producers realize that in order to pro promote promote promote mote stability something of this sort will wilt have to be done anti and It Is because of this concerted feeling that Wall VaIl street Is In Inclined Inclined de do developments dined to the belief that favorable are pending The Th copper industry has been In a state of demoralization for tw two years The it tt it steel industry has recovered all that other lost during the depression and i branches of industry with the exception ot of are thriving Pig iron and anO copper 50 SO SOp steel production was cut down nearly pr ir p r cent during the depressed depre sed period while hile copper production was going on at ata ata ata a pace The result re was that when there was a change for the better in the steel industry prices respond responded ed cd and there were no surplus stocks to work off Take copper on the other hand handan an Improvement im improvement Improvement provement In demand set Eft In Copper con consumption consumption consumption Jumped from 56 S per cent of normal to almost normal but copper prices did not respond Stocks accumulate late latel 1 during the depression were large and producers seemed to strive to outdo each rach other In output The result was that consumers made no effort to cover future requirements Why Vh should we with ith stocks so large and production Increasing in Increasing creasing they thov asked No Merger Looked ForNo For ForNo ForNo No merger of the large copper inter interests interests interests ests Is U looked for In the trade A consolidation con consolidation of the Amalgamated Copper company and properties is a probability but It Is not believed it will wilt willbe willbe be possible to merge the low and high cost ost producers at prices that would be 00 regarded d as equitable to all shareholders The rhe Guggenheims Gu and aud Amalgamated in interests interests interests have been mentioned as having haing formed some sort of a working agree agreement agreemEnt ment meat but no confirmation of these re reports reports ports can an be obtained Conferences o othe of the leading Interest interests have been held but no statement as to the outcome of these meetings has been made madeTh The Th persistent strength of Amalgamated ed fod and other copper stocks has hIlS been too pronounced to warrant the statement that the upward movement mo ment has been due en entirely entirely entirely to manipulation and short covering A representative of a large copper com coni compan pan Pany has the following 10 to say regarding the reports of a gigantic copper combi combination combination I nation I do 10 not belLve beU e a combination can be effected However a merger may grow out of oC the efforts that are arc now being nath to tl harmonize the copper coppet interests of the country Every copper producer knows that a grave error was commit committed ted td in hi allowing copper to accumulate during th depressed period and will fa favor faI I vor YOI a good plan for regulating the indus industry Industry try It is simply a common sense move Every Industry is prospering with the j exception of copper Review the course of the copper industry over the last three ears pars and one Is bound to come to the I conclusion that to prevent even greater demoralization than experienced in the pp I t concerted action must be taken |