Salt Lake Tribune | 1909-11-14 | Page 2 | How Guggenheim Sees Copper Market

I HOW GUGGENHEIM I SEES MPPH MARKET H European Supply Only Normal; Prices Controlled By Sup- H ply on Hand. Special to The Tribune. UOSTON, Nov. 13. Dauiol Oupfjen-hcim, Oupfjen-hcim, who lins just roturnod from Hj abroad, snya: "A supply of one hundred thousand lous of copier in Europe today is iioth-in iioth-in more than normal, art wo have boon shipping copper steadily for two years. All copper llierc is in liconscd vrare-houses. vrare-houses. Tlio.ro is no invisible supply-The supply-The supply has been exaggerated so as to keep prices down, that European i dealers may pay its Utile as possible foi fresh shipments from this side, in view of the present rate of production in this country. " Market price of original shipments of copper is controlled by the supply ,m hand, and in that the commodity of copper is in a -class by itself. 'If the slock of a silk mauufucluror, for in-stance, in-stance, begins to accumulate to loo largo proportions, he can cut down or stop innuufacluring for a time, and I has coul'rol supply without accepting the price. But not so with copper; the supply of I hat commodity cannot be controlled in any such way, as produc lion is! bound to go on at practically the same rate. Mining operations can not be suspended at plcaH.uro without grae I'onseqtiouees or serious loss, hence the lliielnutio'ns in price as vis-iblo vis-iblo supplv imn-oasca or diminishes.