Salt Lake Tribune | 1919-08-16 | Page 14 | Copper Surplus is Unknown Quantity

COPPER SURPLUS IS UNKNOWN QUANTITY Our calculation tliat during the first six months of this year there was no reduction reduc-tion In the copper surplus, In fact, some increase. Is confirmed by the reports of the porphyry copper companies for the quarter ended June 30, just published, says the Boston News Bureau.. Wo stated on Friday that, balancing sales to domestic consumers plus export deliveries, againpt mine output, it was apparent that the production had not been absorbed. It will be recalled that during the first quarter of this year copper trade conditions condi-tions were desperately bad. For two months not a pound of new business was put on the order books. In the second quarter, especially In May and June, sales averaged over 200,-000,000 200,-000,000 pounds In each month, with July also running at high figures, but the improvement im-provement set In too late to balance earlier deficits. Note the following from the quarterly report of Nevada Consolidated: "The actual sales of metal for the quarter, however, did not equal the production pro-duction for the period, wh ich resulted in a further Increase of unsold topper on hand and In transit. A general improvement improve-ment In industrial conditions at this lime would seem to indicate a slow but grad- ual Increase In do-nestlc consumption and a. derided stimulation of foreign demands. While thin fairly wHl detlntd improvement improve-ment in the copper market gives promise prom-ise of further expcinslnn, the nc.nagetnent ha.8 considered It advisable to continue the output of copper on the prehent basts of curtailment until some portion of tho company's accumu'atlon of copper etocka can be marketed to advantage."