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Show OFFICIAL SEES FUTURE FOR COPPER INDUSTRY Seventeen cents a pound for copper is too high and uneconomic, unecono-mic, Chairman Stephen Birch of the Kennecott Copper Corporation Corpora-tion said recently at the company's com-pany's annual meeting at which he reported first quarter earnings were substantially better than the 60 cents dividend declared. "I think it is unfortunate to get the price of copper Hp too high for we may kill the. goose that lays the golden egg." . Birch said. 'fcOver a period of years Kennecott's price for copper has averaged about 12 cents a pound." He said the outlook at present Is for really good business provid-i provid-i ed there is not too much Interference Inter-ference and prices do not advance ad-vance too rapidly. Kennecott is now producing about 40,000 tons of copper a month. In the first quarter, production was 111,000 tons. When Ray and Chino mines expand their output the company will be producing at capacity. He said' all copper producing countries coun-tries in the world now were oper atisg at capacity. '. |