Salt Lake Tribune | 1906-07-21 | Page 6 | Copper Gossip from Boston

ICOPPEE GOSSIP FEOM BOSTON, Edison Company Biding Time for Cheaper Copper, Which Won't Come. James A. Pollock & Co., furnish the following from Boston, received over their private wire: "The Edison company of Boston uses about 5,000,000 pounds of copper a year and purchases are usually made to cover the needs of two years. The last lot of one million pounds was purchased about two years ago at 13 cents. The management manage-ment at the present time has practically no copper on hand and will not. buy Its supply, preferring to wait a short time and take a chanco of securing lis copper , needs at lower prices. This disposition Is believed to reflect the attitude of many large and small buyers all over the country. If copper maintains Its present pres-ent strong position, much deferred buying buy-ing must soon come Into the market." "Drifts in the fifth level of the Black Hawk mine of the Arizona Commercial company aro now In 12 per cent ore, and the ore body Is getting larger. It Is apparent ap-parent that tho fifth level cross-cut ran I through a lean streak, and that the ore so sensational in Its extent on the fourth level, will be found by drifting on the fifth level." ."After many vicissitudes, the Tennessee Tennes-see Copper company Is now In a position lo produce 1,500,000 pounds of copper a mpnih and enrn $11,600,000 net a year, equal to $5" a share with copper selllug considerably under present quotations."