Salt Lake Tribune | 1919-05-25 | Page 34 | Coppers Advance despite Obstacles

m'SBT DESPITEJBSTACLES Adversities Fail to Hold Down Shares or Leading Lead-ing Companies. I j improvement in Market for Red Metal Is Held to Be Assured. The ability of copper Kiuircs to advances In pri -' in f:i''- nf thf nmM ndvrrse. conditions con-ditions 'hi: ImliiHtry hun ever jnnwn i fuit ; i r n f 1 1 i- evidence of the wll-known hai.il. of Willi Mtreol to disrf-jsju-ft either p!Vi"'ni. prosperity or present adversity ;n I'd .'or of what it nolb-ven wiil I e t i i o j h:. ilus h mofilliK or a year hence, nays the I Inst on Ni'WM l-inn-an. It Ls always "lui.k ii i- to the fin urn." S iiiiiro;i rl'fl, wn have the following rnWifi d iMiial array of "present"' ail vur-Mlile.s: vur-Mlile.s: (I i A Hiirplnri nf 1 . ftOO.iK'O.OOO poimdH. - I I To hidl vu o).-ra i loin curtailed &0 pc r t a ltd hu rpliirt stil I K''owlti. C) " 1 nil i :mm ruttini; of dividends. I (ii Km .if W'H'piiv rii-w pay $mji),()itO in f Uii'-a ri'.'d dividends In ni rid ruont hM. j i a i K port h of America n copper close r .to va 1 1 J ! i ini; poi lit. (f,i Some iiodu'-d'-s compelled to seek ba uk 1 1 1 a w i. -ni an en In carrying aurplus mm 'oil. 1 7 1 'nee of the metal close to a non-prollt. non-prollt. bans. Shares Still Advance. i:d ."M'lari.-ly in iho fnee of all this and tin; fart m hi i Ml lip known to evory- mal parity of surplus to output is restored, re-stored, but master hands are at Wie helm. ('opper iiote;l at IT cents today, against 1-1 -i cents a few weeks aKO, points pretty clearly to expert ma nagemeiiL. With inany basic com modi ties booming aloiis at advancing prices, it wouhl be strange Indeed If copper were not soon to catch the step. And the .American manufacturer manufac-turer dearly loves to buy on a nsing" market! eo'iy ih,. mii.rke! lor copper shares shows a I mobile indifference to present troubles, (n i nil b, from the low point of the year 1 !M : 1 1 ley have deiiinnp! rated a remarkable remarka-ble ahlliiy lo come bnrk. N'bte the fol-lov. fol-lov. In in jlliisl i-alion : !.-w. lliifh. Adv. Aiiiu'oinla ri!'.i. fi! 12 li liiHj.li ;i I ion ma f.H '.J , LMah Cnpiir-L- Ti'Vi 13',3 (ne ndbt wdl view witli genuine ;i I r i i ni a pile of unsold copper of a billion and a i ml f powhdH, recall ins I hat forty years a n"o Secrelan, with l-'rcneli banking aiu, "went hruke" trying (o eari'y less ii tan one -I bird this amount. Only nt- ein -ai H auo the late I h'nry H. Uogers ,'oniV'Jsed defeat in a similar ntt em pled orn ner. 1 itit t Of lay no one man or syn-dieaiM syn-dieaiM of men Is called upon to shoulder til.-'loud. It Is being carried by twenty or inoi'o producipg- eomjianles with ample re sources a nd (.'red it provided it doesn't :;ro much heavier. Bi Interests Rule. Yhc ijuesi ion is askpd; How does it happen, ihat the metal price advances against such odds? Primarily it ls because be-cause t be industry is dominated today by four interests Anaconda, the Gusgen-be.ims, Gusgen-be.ims, 1 'helps-I'odgo and Calumet it 1 Ic -la. Til is cent I'aliv.at Ion Is a bulwark o! protection so long as the Kig Four do not tiy to cut each other's throats in a .'onipei it 'on for business. '' ,lo 111 1 1. U an, the recognised leader hi' the ludn.slry, has many times given j proof of his abilities as a copper mer-ciuint. mer-ciuint. If his competitors wanted business busi-ness at cu! prices they were welcome to ii. ;.ed It UMiaUv turned out that when t r 1 1 1 up-swing came and consumers were bidding u p the market furiously. Mr. Uaii svr.is Uic man with copper to sell, lhe little fellow having sold out at lower ii'jees. It would not be a bar guess that iin'iiv .Mr. Kyan's policy of letting the j sbvt-w aisled producers get all the bu3l-tu'sv bu3l-tu'sv t in.' v (: n at low prh es was being adopted by the lhg Four. . Will Not Sell Under. Mr. .tackling, equally commanding- In the porphyry la id, is known to have very ; posit he iews. He will advise closing down en! irel v before he will consent to , sctlliu;- a pound of metal at less than it .lists to pioduee. .So long as the controlling interests a 1 .o c referred to are Intrusted with the joh of getting the copper situation back on'o hu even keel, stockholders need not worry. It is u big undertaking, and nviuy mon'.ii.s must elapse before the nor-