The semi-weekly miner. [volume] (Butte, Mont.) 1882-1886, 1885-06-27
TEE copPxR MARKET.

Our special correspondent at New York,
under date OF June 10, sends us the follow
ing report Of the condition OF the copper
market on that date. These reports will
! be made to The MINER s~emi-monthly, and
| oftener when the condition OF the market
may warrant. Our correspondent says:
The copper market Tor the week ending
to-day was again exceedingly quiet and dull.
| The Calumet & Hecla, with it's tremendous
| production, provides amply Tor the little
amount OF material the consumers need at
| present, and a revival Of trade is not to be
| expected before fall. Strange as it appears,
/ our consumption is smaller than last year,
/. Notwithstanding the ~cheapness OF the raw
| material, and the increased outlet OF cop
| per for different purposes, formerly
| filled by other metals. just look at our
new street cars, where all the ratings are
made of brass; hinges on doors, in private
! as well az in public houses; the fashion re-
roofs and lots of other appliances; the in
creased inquiries for copper wire, etc. 1t is
a fact that manufacturers who formerly
laid. in 5000, 900 to loo, OOO,O 900 pounds
ahead, buy now by the cask OF 1000
pounds, and keep no raw material on hand.
This is cas- enough to understand. be-
cause for Jour years manufacturers
have been getting the copper con.
stantly cheaper; the longer they waited
to fiji their requirements. They may, per-
haps, be deceived one fine day, il they per-
severe in this method.
Other brands of copper were neglected
very much, while Lake brought
cents. Baltimore and Oxford brands were
offered at 1OA cents per pound, with buy
ers at 100000. Even Baltimore copper
(made OF Arizona pure ores) was
offered at 10Y cents. Electrolythlc
copper is, SO far, not in iav0r
and can only be quoted nominalIy 1919
to IL per pound. The reasons for such a
difference in the price between Lake and
other brands are no doubt to be found in
the bad management OF one OF our largest
refineries. Formerly refineries did not sell
direct to manufacturers all over the cOun-
try, but to dealers. In this way. they could
dispose OF their entire production at once
at a firm price, a little below the market,
and were thus in condition to pay to the
mines and shelters a firm price for their
ores or furnace material. Since two years
they were not contented with making tolls,
but thought they could dispose OF the re-
fined copper without the assistance OF the
dealers and pocket the latters' small COM
mission themselves. They forgot that it
required a very large amount OF capital to
become a dealer, who paid cash to the re-
tinery and allowed thirty to sixty days
credit to the manufacturers. The refinery
could not stand it a very long time in dis
through their agencies in different
places, especially as they encountered the
silent but still more powerful competition
OF the dealers, who sold their customers
copper on credit as before. This vir-
tually threw out Baltimore brands from
quarters which at present work only on
Lake. and is one OF the secret causes OF
their recent failure.
Beyond any doubt, the refinery's bad
and the subsequent falling out
with dealers led also to the rapid decline of
the price Of refined copper, at least it is one
of the various cases. 1t is generally
known that the United States consumes
only so per cent. OF it's entire production,
and the balance has to be exported; at the
same time the worlds production has not
materially, in excess OF the
consumption. Hence the decline in
the worlds price OF copper is not due only
to our over-production, but to the bad man.
agement Of our refiners, aud our larger
mining concerns, in disposing of their pro-
ducts, have certainly a share in it.
The stock OF copper is a very limited one
the new organized Baltimore refining works
find it very difficult to obtain furnace ma
terial for reasons already mentioned. The
II OAll1u VOAAO NVV Jill !
from Montana. The Baltimore capacity is
Is, 900, 600 pounds fine copper per annum;
the Orford's about one-third OF it.
1t will pay to export matte ores to
Europe in preference to refining them here,
though Chill bari are down again in Lon
don to $44 los. The contract for the ex-
port of refined copper (Arizona) runs out
month, but shipments OF lake copper
will not come to a stand still before March,
1885. This contract based on the
price of Chill bars, stands in the
way OF a thorough improvement
in prices OF Chill. The purchasers of
the Anaconda matter do not have to a
ipulate the market in London; the French
Lake Syndicate seems to take proper care
of it. The recent communication, that a
syndicate lin which the house of Roths-
child was a member), has purchased the
California mines, is incorrect: In
the first instance TIT house OF hOthschild is I
not interested andSdoes not invest in cop
per mines. The Rothschilds w quick
mines, very true, but nave made it a
rule not to touch any other mines. Pro
Secundo, owners ofEisman & Cons, have not
sold the Lower California mines, but SIM
ply granted an extension OF the bond
against a cash payment Of rs, 200 for each
half of the mines.
Late advices from Europe indicate that
valuable as the mine may be, the large
OF capital required to work the
to advantage will not prove a draw
pack, but the Mexican mining laws, the
fighting of the Yaki Indians, and
asst, not least, the sudden decline in the
prices of copper whenever these mines
'hould be worked to any extent, are feared.
1t is claimed that the pound of fine cop
yer from those quarters, could be laid
lown at 6 to Z cents per pound in England.
we are protected by animport
luty of 3 cents per pound and the Calu-
,nly " to X cents per pound.
Nevertheless, should the sale to a power
I'll concern become perfect, these Lower
california mines, would bring forth an
'ther and lasting decline of the copper
rice in this market, and the result would
Ne, that this LoweHCalifornia concern would
ee it's imaginary profits, if any, materially