Show I COPPERS I I f KEY T TO SITUATION Reduction of Metal Price Gives East Inkling of Important y tant tan Fact Fact That the lower price of copper is causing eastern ester investors I y tors to a awaken vaken to the tha important position p which is coon occupied pled pied In the copper world by the i so 50 called calw porphyry producers is IB evident from the recent C nt performance of at the th eastern easte stock toc markets And It would appear apper to b be time for tor the awakening aw koning It I has for tor a long time been interesting to note the unanimity with wih which Bos Boston Boston Boston ton and New York sto k market arket tal talent tl talcut ent cut had ho stu ignored ignore tuch tuch issues h suel as a Utah Uth Copper Nevada Nevada Consolidated Ray Consolidated and the yet newer porphyries Efforts to school the mind of the eastern eter investor Into the belief that tat the Lakes Lake and arid the BUttes BUte were the only coppers have been so s apparent that thit they have become almost humorous What are ar really rely back num nurn numbers numbers bers are referred refereed to as the standard coppers But since the price of the metal In Instead Instead stead sted of ot advancing in accordance with eastern predictions has continued to decline delno slightly occasional reference ref ece to the porphyries and the possibility y of their being induced induce to curtail production production tion ton has become beme imperative And that has hag caused cuse the tte eastern eter investor to wonder if i the th porphyries may ma not be performing the role of the band wagon and even the advisability of getting into the tho band agon has occurred to tosme some of them Canvassing the situation has brought to many the startling knowledge that such producers as Utah Uth Ne Nevada Neada vada ada Consolidated Co are In limo no immediate need ned of curtailing production they can go right along alog producing copper at ata ata ata a profit until the price goes so low that the Lake and an Butte Bute mines mine will wm have to either suspend production or operate at ata a R loss loes Then without question queston the low lower lower lower er price of the metal would result in extending its is use and the thc price would go up So that there ther would be beno no need for the th porphyries to curtail at all aU Running Close to Shore A Boston Botn statistician has discovered that 17 per cent of the American Americ out output output output put of copper is produced at a cost above 11 1 cents a a pound the tha average of oft that t at 4 pounds of the metal be being beIng belag ing lag close to Which means mens that the unfortunate producers producer who take part in making that tat 17 per cent of the thE output wilt will wi be running close crose to shore shor Jn tn the event that the price prie of copper copp copp drops drape to 12 U cents cent a pound while the ie once despised porphyries es producing copper at a cost cst around arund 8 S cents a pound will wl be making as good tod a profit as a any reasonable business busl ss man could ask for Then hen arises ari a question of ethics ethic per perhaps perhaps haps hap Should the porphyry producers to producers out of ofa ofa ofa a hole hole cut cot down their ther forces forcas force and re reduce reduce duce duc their output as the expense of higher cost cst of production for them in I addition additon to lose of ot gross business busness That would be the thing thin to t do no doubt were business operations today t dy universally universally sally sly conducted In accordance with brotherhood of ot man ideas ides but until such ideas Ides are ae generally adopted it be human nature for the producers to continue grind grindIng Ing lug out cop COPI copper er r and paying dividends lv ed to stockholders stockholder who are always alway more mor or orless orles orless less les grasping It I is a fact so patent as to td no elucidating that the porphyry producers cel especially after Ray Gila Glia Gia Chino and an Inspiration shall have been added to life tife tie list will dominate the thE copper situation And nd poor por old Boston BORton and New Nw York are just jus getting is to that situation |