Butte semi-weekly miner. [volume] (Butte, Mont.) 1886-1890, 1886-07-07
THE COPPER MARKET.
A Big Mistake by the Calumet &
Hecla...A Better Feeling.

| ncClAsssA OtJtCT EtC11uks
There is decidedly better feeling in thi
market, says the Engineering and Mnin
Journal Ut last Saturday, and thougl
prices are nomipally unchanged, there is
pretty general impression that they vii
improve-or rather, that Calumet & Heel.
will not put the price as low as 10 cent
when it sells again.
| In our report last week, in one place tn
types made US say 1000, 900 pounds
while it should have been 10000 OO(
pounds as the estimated amount OF tn
Calumet 4 Hecla foreign sales. The typo
graphical error, though zero, was quite i'm
portant, or would have been, had We no
in the next paragraph put the total sale:
at 25,0OO,OOO pounds, using the corree
| figure Of ten instead OF one.
1t appears certain that this COMPANY hae
| sold outfits stock at least to August I, anC
| is, therefore. not at present an important
| factor. The other companies have, for til.
most part, declined to sell much at the 10
cent rate, and We believe the FUTURE Nii
f1emonstsate til ness OF the eimFees
sion that q price @ low as 10 cents wal
unnecessary. Every one knows it has
done great injury to other producers, both
OF Lake and Western coppers,
AC AC" ctIlhC vi IlC1 OIS Ill Ale AlIOucZ
mine, though important, cannot have any
material influence on the copper market
for months to come, assuming. it to be as
important as stated. The strike is not in
the Calumet conglomerate bed, as stated
in some reports, but simply rich place in
the AllOuez bed. where several such finds
have heretofore been made.
The London market for Chill Bars dur
ing the week fuctuated from f39 12s. Sd.
to f4O 5s.. which they touched on the
twcnty-third, receding again to f39 1Ss.
3D., as quoted to day in cables to the Metal
Exchange. Best Selected is quoted f44
Ores and Matte are quoted 8s.@ IS. Sd. per
unit. Here we quote Lake 1O@ 1Ohc, and
other brands 9@9sc. Oxford, Baltimore,
and P. S. c. Arizona 96 per cent. pig cooper,
$40 SIC. per pound.
There were exported during the week, old
copper, 3,27i pounds; copper, 268, ,S5G
pounds; copper matte. $50. 800 pounds !;
and there were imported and warehoused,
42s, 51O'pounds copper (Chili Bars). This
lot is not likely to come on our market.
AN ENGLISH REPORT.
Messrs. Vivian, Younger & Bond report
June 8, as follows:
The fluctuations in the price of Chill Bars
during May were moderate, closing at a
fall OF sos. for the month. The general de-
mand has been very slight; but making
every allowance for that, it is difficult to
explain how, with o. reduction in imports
for the first five months OF 6726 tons, and
an increase in exports for the same period
OF 625 tons, the stocks show an increase of
1929 tons, unless We come to the conclu-
sion that the tendency OF the market has
been SO discouragins to the whole OF ithe
trade that it has made it's sales recently
out OF it's normal stock, and is now wait
ing to replace the reduction in the hope OF
lower figures in the future. So far as we
are able to obtain any information, we
come to the conclusion that the low price
OF copper is having decided influence in
deterring the development OF new mines;
and in the main, it may be said
that no copper is produced at present at
any adequate profit, and very large guam
tity is brought into market at a very seri-
GUS loss. On the other hand, the general
dullness OF trade, SO far as it affects the
copper, is perhaps as much owing to the
among manufacturers, through
their Increased powers OF production, as be-
ause there is any absolute reduction in the
quantity OF copper employed. But the ar
tlcle has increased enormously in volume !
hiring the past few years. As rule, those
engaged in the trade are rich, and it is likely !
chat any material change will be work o.
time; but everything points |
% the worst having been past SO far as
ow prices are concerned.
Sales OF / 900 tons OF Anaconda matte |
% arrive are noted at 8s. I'd. per unit.