United States Investor Volume 17, No. 40 (Paperback)

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1906 edition. Excerpt: ...the market must, under the present conditions of national financial organization, he resorted to, the secretary has undoubtedly acted wisely in not waiting for THE YRODUOTION OI1 COPPER. Information of considerable interest was aflorded recently by Mr. John D. Ryan, managing director for the Amalgamated Copper Company, in an interview relative to the production of copper. According to Mr. Ryan, the mines he represents have not only no surplus on hand, but they have sold their product far in advance through the United Metals Selling Company of New York. The same'condition prevails, according to other authorities, in most of the large mining districts, not only of the United States, but of the world. It is stated positively that no surplus supplies that can be thrown upon the market are stored anywhere or are available for use in affecting the market.. Vithout putting too absolute a faith in the statement of Mr. Ryan, it is an evident fact that the copper industry has plainly settled to a much more stable basis than hitherto, and that it may be considered, so far as the actual question of production goes, to be fairly upon the plane of regular nonspeculative undertakings. How far the manipulation of copper stocks may extend is another matter, and one which is independent of the industrial position of the business. It is certain, however, that as the market for the metal becomes more stable, and as the conditions of production grow more regular and less speculative, the day of exploitation and manipulation of shares will gradually pass by. There are several factors which are tending to give stability to the industry in the way referred to, independent of the great demand for copper itself. Of these, one of the chief is.ound in the growing...