Arizona weekly citizen., 1888-01-21
Copper and Lead Market.

CoPPRR.-The merket has exhibited considerable fluctuations during the past week. After the publication of our last issue the prices for pot and Jan uary declined to l6 25 and for February to l6 50, out in the middle of the week a better tone wss observed and prices quickly rallied from 9 to 90 points, with very large transactions each day, partly ou account of spectators and partly on account of the trade. At the Second Exchange on Thursday, quotations, how ever, agsln gave way slightly on the re- ceipt of cable advices from Europe, quoting lower prices for Chili bars, which had remained almost stationary since Christmas at about eS5. On Thursday the price fell to eS3 l5s, and on Thursdsy opened at fS3, and shortly after fell to esI l5s and at the Second Exchange fell 10 eS0 l2s, 6i. At the same time private cable adylces from the other side report that the French syndicate IS depressing Chili bars while at the same time they are buying large quantities of all other kinds of copper. It has also trsnspired that during the last few days ths syndicate has bought up the whole production of the Rio Tinto O.. for the next three years, (which our readers are aware amounts tO about 25,0O0 long tons per snhun); and ii IS also said they have secured the entire produce of Mason < Barry. and also O. the Arizona Copper Company, of Edinbro', or coarse all these reports require confirmation, bat there certainly appears to be some foundation for them. It might easily happen that the syudi- cate now find 1t to their interest to de- press the price of hili bars to 8 figure even much lower than the present, but considering the condition of our market this need not alarm holders of Lake copper or other fine descriptions, as 1t has been clear to anybody that the ststs of affairs existing during the last few weeks has been d. together anomalous. During all this time Lake copper could be delivered m Europe eS0. Best selected sold at a few pounds less, and casting copper at. con siderable less. We have all the time been sounding the note of warning about the present range of high prices, and our opinion is shat they are not justified by the state of trade or the general po- sitiop; but in view of the existing arge interests in sustaining prices, we should be rather surprised to sec any serious collapse for some time to come. This feeling seems also to prevail on the Metal Exchange here, as although to- day CFridayJ the tone was dull, with lit tie desire 70 do any anything. quotation. have shown very little alteration, and nothing was done to depress prices. Il is evident that there gre numerous buy CTS at slightly lower prices. We quote Lake copper. spot, 1920 February. 1925 March, 16:45; April. 16:60, and casting brands 2, to 1 cent less.
 Lead has be'D very dull, and sale have been effected with difficulty Con sumers continue to hold of, while frs hands have not been eager 10 sell; ou thIs morning the article wss offered down to 4l5c for spot, without fndin' buyers. An opinion finds some currenc that consumers must come into the mar kei in January and February, and mean while are buying to depress prices Il order that they may be able to bu, cheaper; but it is difficult to say whethe this IS so or not. In London the maj ket IS dull. at Gl5 for spanish and El5 D for English. Mining and Engineerin | Journal.