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Show II ANALYSIS OF THE I COPPER MARKET Evolution of Industry Has Required Re-quired Time, but Ends Being Gained. DVH.T OF NEW MINES Jamei A. Pollock Shows How Situation Has Been Made .lam- A. Folloek. who has bn .beent for a month on a- visit to his two boy. la bn-U :t salt I-ake again, and when Sited nn SaMrdav for a statement In re-card re-card to the OOppsr metal situation, he j fcgvs the following itfttcnaut, tvMch wlllJ of nuich Interest to copper circles: ' So much detailed Information ha fl hen srin out of la t In reeard (o cop-rr cop-rr inininR and the oppf r metal situa-Hon situa-Hon that 1 do not know that ther la anything original that 1 can add thai 111 pro interesting pr Inatruetlva, It i .n established fact that the solution or i n trios te metallurgies! problems and lie reult'mr ertranee of the porphyry mine into ihlj- particular field of Indus-'riu! Indus-'riu! end'avot. with tliclr huge tonnages PB of developed or, tinvlo possible of ah- i nolute proof through the Inexpensive! method of rhiim drllllnc. was the pcn-i PH .rHe for' r that caused hssltftncy mid, i lien abandonment Of commonly SCCSptSd Ideas, formed from i.nM conditions. In- j ofar At probable .osts and production were concerned, and brought about ni iew alignment of Id BOS In ir'atlon to ils- I Transitioral Period. The fear of ' er-prodiictiop. and the! i oib e naceailty . fight for the Fur- i ui of ni ' i'e- arsj dominant in the Mundf at both productive and eonsomp- Itive interest?, and (mill .i new basis of '(fires could be obtained through the nasssg of iirno and absolute pr.'.-f SS to coata ind production by those new properties. oulr! bo ne.ird, a ienrwi of giai uncertainty pre-.aiied in conaa-1 nuance, and notwithstanding tha fact. ' i t conaumptlOli was above normal nnd the shifting "f the carrying f the burden bur-den of a normal turpi m trm Ronsdmeri :o producer wns pllnl apparent, Mi Plk.e of the metal held at a .'ow figure Od remained (here until, on account of onttnued depiction of avurplua siocke I the prlqa at last turned automatical!-.-in the right and norma! direction by an advance I canta per pound. The avsrage price of copper during tha paat ten ytam ,hh been 1S1 onta, ! nnd T have a very firm belief that during dur-ing the decade that PI before uu the ! l:Tee will n.' only average as high, bull will exceed It. although I would leretj -eeliM5 'he pri'-e mUCn abOVC I T cents i inee. at that level, there glwajfl wlil he j .-( broad POnsUBlptlva demand, and It Is i he aarnaal daalre bi producara and con' vi::ners n ! I k to gVOld wide fluctuation! m the future and. If possible, hold to a stable and fail saiue. What All Desire. "Thla would prove of Inoatlnjgble 1-enefjt to a'l concerned, nnd if Ik a proof of the KriwmK landancy toward aclan-J tin operation of copper mfnot nnd ai-i he.) Indnatriai which baa not obtained J In the f.at. Wide fluctuatiotui are pro-! ductile of urat uneettjementi and a 'Kitlmaie profit. cimtnensurnf e with) initial flake involved, If deelred by all wtic have the good of the Indtietry at I heart. "To me, toe oieat promiae of the fu-j 'i:e of all . .ip i mine, n-l particular- j the borphrri mine-, having known ton-I nagea t'tat evlll lai nor a long period! of year, rests In the f:,,-t that if the t orphyTj mines had not become avall- able the n et.ij would not be celling at HJ h::'rma! prlcef. The porphyries now i HJ ete. rurhjlahlng the auppl that the in - j HJ d:jtrle the world demand, but what ; of the future? "The porphvry mine- we'.-- all well' known Tid oTd depoaita, made possible) as crmnierclal factors through the ao-I ao-I :tlon of Inplcate metallurgh.Hl prob-lm, prob-lm, and e- ery apparent human effort has hen ijiade outing the paet few, j eara to find new deposits without su - I aas. .eraln. what of the future? Bven I If ner and big depoalts were found to- I morrow, it takes five yean to put a hi copper mine on a productive and profit-able profit-able basis, and .-erlniiilv the present and proepeetlva produ en have deer field ahead of toon for tha4 period and, doubtless much longer. I Coppers as Investments. "I a:c Impi ess". With' the fact that! i-onpei mlna with probable deposits and I he porphyry mlnea with knowd le-. posits, covering needs for thirty to fifty ea-a 'ahead, have period befdre them of profitable earning power that placea tbeTi in 'he front raBM ! -.rnhle Indus- 1 trial invest mem. A t" the Immediate! future prii es ( metal, it lonkt. as! though M might Mig front the oxMlng quotation, and I think that under nnyj rlreutnetancea v.'- hava gained about all I e are 1 1 : 1 1 1 o to for a while. " There la io much pneertalnty pre-M'ling pre-M'ling In the Industrial world, owing to th tranaltional i-tHge In aorlai and la-btr la-btr aoonomtca that the country is pouig through, that it may be wli to take rOgni7.tt f th Ba conditions before iie-hag iie-hag tfo positive in our prognostications i of the future of one particular field of human endeavor.' |