Show I I i I RECOVERY RECO IS RAPID SAYS D. D C. C JACUN f Improvement Is Nearly Neally as Marked as Was Vas Downward Trend in Panic WHY BONDS WERE NEEDED Utah Copper Manager Ex Explains Explains Explains Ex- Ex plains Necessity for foi Large Working V Capital Improvement In general conditions In tho the Ea EaSt t during tho the last 30 to 45 days das according to D. D C. C general general gen gen- eral mana manager er of ot the Utah Copper company com corn pany who has hag Just returned from Now New York has been almost as rapid as ns was tho the downward downard tr trend nd for some time prior to that period The financial 1 situation Is particularly particularly easy he said sallI There Thoro IK is plenty of or mone money for tor all legitimate uses In Investors Investors In- In continue somewhat w r wary so soI that recovery In the tho Industries has not kept pace with that of or finances but things are gradually settling to a n. more I I uniform basis basl Ever Every one who ought ough to bo In position to know is decided decidedly of oC the opinion that while boom times time mn may not be expected for some time to come the worst Is Isor vor or and norma normal conditions will soon prevail Little Lithe Politic In It It n I Is perhaps true truo that on account of the panic pt having haring como come at a particularly particularly particularly inopportune time lime with relation to an approaching presidential election elec elec- tion politics may cut a n. figure thure In re retarding retarding to- to tho the complete recovery But that there has hns been or will be an anything anything any any- thing like concerted action on the part of large Interests to prolong tho the d de ile- ile n for tor the Influence It It might have on the election ejection I do not bell believe ve There are too man many Indications that thai those sometimes suspected Interests are are- pushing aa ns hard as to bring back the tile time old activity In regard to Utah h Copper at affairs Mr Jackling pleaded that there was nothing nothing- now new He lie dl did however howe elaborate elaborate dab dab- orate to some extent upon the tho reason for tor tho the recent bond issue of ot 1500 There may maybe be be some he ha explained who do o not understand wh why the company com corn pany should nee need so large a a. working capital Just at the time when It Is approaching a paying dividend basis Wo We have had hae heretofore construction and development funds but no working work worl- workIng Ing Ins fund It is needed for the reason that from four fO to five tl months Is r required re required re- re qui red to realize cash from our OUI finIshed finIshed finished fin fin- product It takes about three months to deliver dellver the copper after the tho concentrates concentrates' go o to the while another month Is consumed in completing ing settlement It will seen therefore that producing pro- pro pounds pounds of of copper a a. month as us wo we shall be doing with our plant running at full tull capacity and with tho the cost of production 7 cents a pound we shall ea easily lb have tied up In the metal before returns begin In to come cOlne in Mr Jackling confirms what already has hns been given Ivon out in regard to hurr hurrying hur hur- r tying into commission tile the remaining four tour sections of the big concentrator It is expected to havo have the ninth section I In operation by the end of tile the the present present month and the complete plant running running running run run- ning within 90 days when the tile compan company com corn pany pan will be handling a n total of tons of ot ore a n. day |