Show COPPER how a leading consumer views present market conditions the following comment on the copper situation has been received by joseph gallgher manager of alie utah mining machinery and supply company from one of the biggest copper consumers in the country buyers had become accustomed to quotations of 2212 2 to 23 tor some time before the new schedule of copper prices was made by the larger interests while the principal producers were maintaining a nominal price of 2514 4 recently there were sellers anxious to do business for much less money and an unhealthy situation surrounded the whole market which greatly interfered with the exercise of complete confidence in acte market reliability and steadiness could not find a favorable soil for their development under such contrary conditions and buyers generally were contuse over the outlook although the wide price discrepancies no longer exist there is however a number of features exerting their influence to encourage a spirit of hesitation among buyers which will require many sound arguments to fully dispel there is probably considerable copper in the hands of consumers carried aver from old contracts and t ne apathy of some of the prominent manufacturers would seem to confirm the belief that supplies of raw material are by no means exhausted the effect of the recent reduction in prices has served to encourage outside offers in this country anil europe below the official price lately announced these cheap otters lead buyers to adhere to the hand to mouth policy of buying and tend to still further confuse the minas of the trade the situation la not without its bright features notwithstanding th presence of certain conditions which have tendency to rein in enterprise for tho time being business is get ting down on a more normal plane and the disposition to embark upon rash ventures has received a wholesome check the ideas of the financial and industrial world are not quite BO inflated as they were and people are beginning to realize that there Is a limit to expansion methods the kernel of the situation as we understand it lies in the present unsatisfactory condition of the money and boad markets no permanent improvement can be looked for until it becomes possible to finance new enterprises with greater facility than can be done at present the trouble Is not with alie price of copper per se but the root of the difficulty Is traceable to the inability of various utility corporations to secure the necessary funds against bonds whereby the money can bo raised for executing contemplated improvements A curtailment tail ment of business would send money into other channels and investment funds would gradually become available tor purchase of bonds and with a ready market for the latter work already mapped out could be aiken up and carried through successfully |