Salt Lake Tribune | 1909-06-04 | Page 8 | Why Not Gamble in Copper Metal Itself?

IV NOT GAMBLE IN COPPER METAL ITSELF? Boston Paper Discusses Point of Interest to Invcstirs and Others. The efforts of certain local commission commis-sion houses to foster speculation or perhaps investment were better in copper cop-per warrants on the ground that copper itself is cheaper than are the copper shares, has attracted considerable attcn tion, but whether these efforts have had any appreciable effect upon tho metal situation is not yet clear, says tho Boa-ton Boa-ton Commercial Bulletin. From ono point of view the suggestion has much to commend it. Copper is soiling comparatively com-paratively liltlo above the lowest prico nt which it sold in several years, so that the future trend of prices is bound to be upward. Consequently, the one who buys copper stands aii excellent chance of making money. Indeed, it is practically impossible to suggest any other raw material of general consumption, consump-tion, the purchase of which would bo attended with so little risk of loss at d which would promise such sure profits as the red metal. As for the legitimacy of the transaction, it cannot, of course, bo questioned. At tho same lime, any public speculation specu-lation in copper is to be deplored and would probably be calculated in the long run to retard improvement. Heavy speculative purchnses would have the effect of rcducintr surplus copper slocks, but manifestly the effect would be more apparent than real, as the copper cop-per would simply change hands. The apparent reduction in surplus, however, would undoubtedly bring about a sharp rise in quotations, whereupon speculators specula-tors would begin to unload iheir holding hold-ing and thereby bring about a corresponding, cor-responding, if not greater, reaction. Not only would this sort of thing be harm-ful harm-ful lo the copper trade, but it would discourage speculation in the coppor shares. Fields enough are open to tl-o speculatively inclined without encouraging encour-aging them to enter pastures new.