Salt Lake Tribune | 1910-11-28 | Page 6 | Interesting Side of the Copper Situation

INTERESTING SIDE OF THE COPPER SITUATION The Wall Street "Journal says that the producers of copper saythat while many people have commented unfavorably upon the hea.w Increase in copper output they have not watched very closely tho Increased In-creased consumptive requirements of the world. In other words, they have been eincllned to cpnalder one side of the question ques-tion only. It Is pointed out that based upon the Increase in gross business of the largo electrical companies, copper consumption this vear will show an unparalleled Increase, In-crease, whereas there has been a moderate mod-erate increase only In copper production. produc-tion. The General Electric company, Western Electric and Manufacturing company. Western Electric and the Alils-Chalmers Alils-Chalmers company, four of the largest consumers of copper In the world, show an Increase in gross sales averaging more than 20 per cent. Tho estimated refiners output of copper for tho current year will be about 1.44O.0O0.00O pounds, compared with J.400,000.000 pounds, in 1009. an increase or approximately 3 per cent. The General Electric company this year will do a business or close to ?70.000,000. comparing with Sol.Cfio.OOO for the eleven montfis ended December 31. 1909. and S44. 510.000 for tho full year ended January Jan-uary 31. 1909. Tho Westlnghnuse Electric and Manufacturing Manu-facturing company will show a gross business of J40.000.000. comparing with $29,248,000 last. year. Western Elcctrlc's gross for the current year will reach over J50.000.000. comparing with $46,000,-000 $46,000,-000 In .1909. This increase seems to indicate in-dicate that the reduction In surplus stocks "of copper on hand this year was,, Justified. --. The production of copper in 1006 was 1.135.000,000 pounds, since when there has been an increase. of 303.000,000 pounds, or about 2$ per cent. In" tho same period pig iron production Increased In-creased from .22.092,000 tons to 27.100,000 tons, an Increase of approximately 19 per cent. ''Consumption of copper, outside of that of tho electrical companies, has also been large, more so. In fact, than many people realize." said one producer. "On account of Us cheapness copper Is beJng ued more extensively than ever hefore. It is because of the new uses for copper cop-per ,that many producers do not favor a snarp advance In th" price of the metalt They argue that the result would be the cutting off of new sources of supply, and thereforo Impair the progress' prog-ress' thpt is being made in the elimination elimina-tion of surplus stocks," Producers are not endeavoring to force the- metal to a high level, sceklnj father to preserve the heavy consumption which has been going on for the last year or two. They hold to the opinion that if consumption eontlnues on the Increase, very lit t f will be heard next year of lartre stocks and tho much-talked-of Invisible In-visible .supply.