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Show such a covin1?. The necessity for curtailment cur-tailment In copper production is glaringly glar-ingly apparent, nnd unlestt th i r'in-edy r'in-edy Is applied the F.tupendus mistake of unchecked production will be. felt even more keenly than at present." Boston Financial News. CURTAILMENT OF RED METAL DEEMED WISE Messrs. Houston & Co. say: "Recent "Re-cent changes in the copper market have been In the nature of more ad-vantagtous ad-vantagtous opportunities for buvers. and a fairly large amount of business was transacted In June on the hasls of concessions which holders were In dJccd to make Prices fluctuated between be-tween 121 -Iff? 12 7-Sc for electrolytic, with the tone at the close easv at 12 1-17'12 l-2c. "Productive energies at the mines have been exceedingly effective In keeping down market values for a pro-, longed period. Copper being produced pro-duced In excess of the world's capacity capa-city to consume it, prices have su fcred accordingly.' If it were not for the circumstances existing in the raining rain-ing districts in Montana, Arizoua and Utah, the depressed condition of the market would soon be replaced by strength and activity. "It Is a most remarkable fact that, with all the recovery In trade and 1 Industry during the past two years, the markets for copper, both here and in Lonlon, recently have been very close to the panic prices of 1 107. The, reasons 'for this condition of affairs are overproduction and a heavy accumulation accu-mulation of the metal In first hands. The statistical position, therefore, constitutes a serious obstacle to market mar-ket betterment. Until the actual situation situ-ation undergoes u change for the Letter Let-ter it is impossible to see how the market can become fundamentally sound and strong. "And yet with the bald and unpleasant unpleas-ant truth of the depressing situation to contemplate, there is no justification justifica-tion for throwing copper away at the present prices. It Is too valuable an article to sacrifice for a pittance of profit. To glut the market further, however, with "a superfluous output, and which later might easily become a source of splendid revenue. Is a policy out of harmony with the genius of enlightened management Let any other natural product be lreat?d the way copper hns been recently and where It will land commercially? Every market of the globe feels the effects of an unusual over supply, and the demonstration of the ability to flood consumers with any of the raw materials will act In but one way. A unhersal lack vt confidence follows |
