Butte semi-weekly miner. [volume] (Butte, Mont.) 1886-1890, 1888-06-20
COPPER IND LEAD.
A Dull Trade Without Guiding In
duences.

The general trade report OF Messrs. Jas.
F. Matthews & Co, of Denver. of date June
Is, states that the general markets are
fi.a and featureless. Iron is yet on the
downward path. Wheat, although on AZ
advance of ~ cents a bushel. is in active.
Sugars are slow, petroleum has tumbled
down to n cents, lin has been extremely
fat. The firancia! condition is satisfac-
tory. The silver outlook is not so bril-
liant as wished, but there is a tendency to-
ward Improvement in New York and Lon
don.
0PPEH
continues 20 run along i'll it's cid rut, and
becomes daily more and o concentrated
in the hands Of the syndicate. Sales for
the week nave been extremely light, and
will not foot up over 400, 600 pounds,
practically all of it at 1850, with occa-
sional variations on small lots to 1856
and 1856, the higher. quotations being for
spots and the lower ones for futures. Thus
far there are very few manufacturers who
either nave not stock or contracts with the
syndicate, SO that outside buying has been
reduced to a minimum. On the general
situation, nothing very new is to be said.
The St. Lawrence mine of the Anaconda
Company, had a cave which extended 500
feet from the 200-foot level, down which
will possibly reduce the output of ore 500
tons per day, or 100000 pounds per
month from that shaft; but the Company
will probably be able to work other shafts
to advantage, and so keep up their totals.
Several of the large lake mines in May pre-
I1naI d ION tens AGAINST Stl) tons. fG
last, and Calumet was only 10 per cent.
sort of last May. Chill bars advanced
sharply from fsI to GS3 Is Sd, with
futures ELS los. Exports last week ran
up to 10000 pounds copper and S00,O00
pounds matte.
Seems to have no friends and tie
market has been hammered unmercifuliy
both East and West until decentralization
has become the order OF the day. At New
| York the sales have been very nearly
| LOCO ions at steadily declining prices
from 4 cents to 3.75. being mostly common
lead and for near by delivery. At St
| Louis a somewhat better range has been
| established, but the price nevertheless lei
away from 4 cents TO 3.75, and Chicago
dropped to $50. For the first time il
many years the st. Louis market was ab
solutely higher than New York, go thai
lead could have been shipped even as fail
back as Pittsburg and Buffalo to advan
tage from New York, and was shipped
quite freely in fact to Boston and Phila
delphia. OF course the automatic action
of prices soon dropped st. Louis, bu
that market still continues to be tn
highest in the country relatively. We can
not find any legitimate ground for this lie
preston other than the reaction from IN
enormous speculation of the early sprin
which piled up a surplus at New York
Spectators got ratified and the pendulur
swung in the other direction and as usua
too far. It must be confessed that tn
Democratic endorsement OF thetariff actio
has had some effect, for the English marke
at the present time permits lead TO be lli
down here in bono at 2.65, and if the dut
is reduced as proposed to 1.25 this wi
permit importation at 1856, and mail ac
vices from Europe offer no eneouragemen
| for believing in any early improvement III
less through influences purely speculetiv
for the stocks on hand there are large en-
in creasing.