Show COPPER SITUATION IS LOOKING BETTER I I I I Newhouse Gives Reasons for Increasing Production of Mines I GUGGENHEIM IS QUOTED i j i Great Financiers Agree That Better Beter Times Cant Can't Be BeSta Sta Staved ved Off Of 1 the tho great groat men of or the tho country who are aro In In close touch with the situation situation situ situ- aton havo Ilava n hn lost the tho ability ti t tt read aright the signs of the tho times thorn thern Is Isto Isto isto to bo lie speedy speed Improvement In financial and nd metal market conditions Samuel No who uio yest yesterday rda released a n letter Jeter ho 10 had hac just rc received from corn Daniel Guggenheim Guggenheim Gug Gug- genheim In which th the tho head of or the smelter Rmel- Rmel ter ler trust declares As to the market price of copper reports report r reach ach me rue that tho quotations given Iven out am are arr not as 3 satisfactory as tl lh actual market mar mar-et We W find today continues Mr r. r Gu Gug- Gug that uc- uc We C can make actual sales als at for Cor February ceJ delivery r I ind I am nm reliably Informed that most mot I 11 producers cent cents 01 are aro holding for Cor 13 13 cents to In m my judgment copper prices should hould soon soom be bo quite considerably high high- er fl r. r After fter ter the first of or money rates arc are expected to bo reasonable and lp will sIlI 11 be begin ln to purchase all al commo commodities including copper It I Is I feel feEl very largely largely a n question queston o of the tile money situation Banks Bank arc not letting let let- ting mone money out tho channels of or trade rade and the merchants nto cannot get get funds to do business with wih The he situation cannot hold hol very lori long longor lonS for or the reason that the banking will soon realize that hoardIng hoarding hoard- hoard Ing ng mone money does coes not make dividends for forthe forthe the he stockholders holders Opinion Shored l n By Col Cole It I ItIs Is s a n significant coincidence that thata a I Boston dispatch over tho Pollock wire yesterday esterday quoted d Thomas I P. P Cole Coleas as aR predicting that copper coppel will wi reach the price of 20 O cents a pound during ing 1908 primarily as aR a result of or the tile re restriction re- re in production wh rh which Ith i is now tal taking in place He lie Ie takes tho the position that American consumers are so short on stocks that they aro ro actually sweeping up the floors to gather the filings s and that If consumers figure upon getting copper at below cost to nan nany of or the producer producers he will be bevery bevery CT very much mistaken Boston Loston dispatch said that Calumet and Hecla Heclo would wool within a n few lys make maUo sales 6 of or copper H L k t 11 or v. v yoa- yoa oB hUI n I il 1 01 In f li at 1 lJ 1 cents Calumet and I Hecla Copper Itan ro o and 1101 other lake Ink companies B have havo vary ory or metal on mad land It Is said s Whatever hato er metal there Is seems t t to be In the hands of oC the tho soil soil- ng companies and they have havo reduced their ng holdings to such luch an extent that he hey are arc not disposed to fill 11 large criers or- or lers JerR vcr very freely Mr Mi- Ir Newhouse in giving out the Guggenheim Gug- Gug Gug Gug- genheim letter leter added that his his' friends I n In Il Europe were beginning be to seo see a abright aright aright right bright light on tho the horizon The They ave a advised me me he saId paid to get out ill iii 11 the copper I can cn and have It I ready reach or the tho better heter prices that arc are sure to prevail within a short time IN Out Omit Copper That Mr Ir Is following this Is Indicated Indicted b by the active prep prep- under way for Cor placing the Boston Consolidated company's compans 11 big concentrator In operation by hy tho pro- pro that Is being made n-made by the thu I Cactus actus mine mimIc The rhe Cactus it Is believed be- be will wil report for Cor December th the production It has ever maceI made mace I tore More oro than 60 50 cars of hh grade grale rdo ore ind 20 O cars of or concentrates have havo been beel shipped hipped to the Garfield smelter thua thus far ar tho yield from which will wil be upwards upwards up- up wards of pounds of or copper It I goes without saying that an up upward upward up- up war ward gOCR turn In tho the copper market must mustO 10 ic O b by bettor heter prices for or lead leati leal nd nd silver so that it Is possible that the he period of or closed mines in Utah camps will wil be short short Mr Ir Newhouse a avs ays s 's that one of or the tho best evidences that tho the country Is to return tg t tl normal normal noral nor nor nor- mal al conditions is the fact that the tho hl big companies are ordering heavier healer equipment nt and thousands of tons of or steel rails rais for extensions of th th-lr lines citing the resumption of work on Improvements Im in- 10 ro planned b by tho the Union Pacific Pacific Pa Pa- prior to the tho mone money panic anie as 1 an nn example of what Is on these those Improvements Including track double in ing of its Is main line lne Did not the tho railroad com companies panics ha have absolute confidence in the future of ot the tile great Industries of ot this country countr L Including mining he said they would not be planning vast Improvements and expending money for equipment to handle handl a largely Increased business s. s nF ISI n. n Iloth Production Consumption for fir 1 fOU Tho The revision of copper statistics for forthe forthe the tho year yer nOG 1906 just completed by time the United States geological survey and ano which estimates tho thu production of or ro- ro fined copper In itt this country In 1006 t pounds smelter production production tion rattler rather than 17 pounds pounds ton tho the earlier estimate was duo ue to an all In Increased Increased Increased In- In creased production being granted the state of Montana h by the survey or om from pounds the Tul es estimate es- es to pounds The Tile government at al the tho same samo time raises It its estimate of tho time amount of ot copper con consumed sum oil from pounds In 1906 to pounds pound O Of this amount approximately CO 50 0 per percent percent per cent went Into tho the electrical Industry Tho The copper con consumption was divided as ns follows In n pounds Electrical Industry Brass manufacture onn oon Copper sheets sheds etc etc Castings 8 etc Total consumption The worl worlds world's production as estimated ly by tho the leolo geological survey survoy to I pounds The Thc average prices for tor refined copier copper copper cop cop- per ier during the year er r were Cents Lake Lako 1955 E Electrolytic 1 30 Casting 1910 no DOWN AT Nl l Many New Sev Inu ro for lor l n t of 01 Cud uN CN Samuel and Lafayette return returned t yesterday from tho the Cactus mine lOhie Beyond admitting that production at nt the pr present ent 11 ligh Kh rate would be le continued and that do ments In the to mine are arc highly satisfactory 1 tory from over every standpoint thc they d I da-I da- da x- x dined to discuss cusa affairs In connection with the tile bl big property Mr r. r Ne hom Newhouse e evinced winced a lively Interest however In Inthe Inthe the new opera house that has hUB just been leon completed at the camp In ill tho tile einor- einor guncy gency hospital for or s and In the tile new school house houM for their benefit A II now hotel and other Improvements of ot Importance to tho community aro are also I under way i 44 o |