The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1894-10-25

unchanged at $40 from June l to Au-
gust z; at 3.25 from August to IS; at
3.15 from August 20 to September IL;
and at 3.05 from September 13 to Sep
TENDER 26 During June, July and Au-
gust, Congress was debating the tariff,
and prices of lead fiuctuated widely
(3.20 to $50, yet the Official quota
tons remained steady at $40 during
the whole period.
The quotations since September &c
have been added to this table. thus
bringing it up to date. This shows that
the Western Union or official" quo
tations still continue far below the
market
Our correspondents have some ground
for their suspicious about the Western
Union quotations; they do not repre-
sent the actual prices of lead here and
are manipulated.
Most of the lead disposed of in this
market is sold in carload lots of Is to
80 tons; occasionally, indeed, as for
some time past, single carloads have
sold quite as low as lots of 100 or 200
tons, so that the "50-ton limit" has not
meant anything. 1t is undoubtedly
true that these 50-ton sales have been
made on orders to give Official quota
lions. The New York Metal ex-
change, knowing this to be true. some
western Union" prices, stating that
they were misleading, but the actual
spot sales at the exchange are so few
that>a price based on them is also liable
TO be misleading, though it NAV be
quite honest. The actual calls on the
exchange offer a better basis for ar
irving al the market value. The En-
glneering and Mining Journals quota
lions are made up from the actual bust
70 -r-r,rJ
Whether IN large or small lots. and thew
represent as accurately as may be the
actual market price of the metal.
mere should certainly be some con-
celteu acuon among producers to rem
edy the existing state of affairs. Not
so much, perhaps, because producers
90 not get all that the furnaces can
afford to pay, as because every one
wants to feel he is honestly treated.
Is Grained, and is probably true.
that the furnaces pay more for lead
tnan II Is worth to them, but in that
case the proper proceeding is, as our
correspondent suggests. that they
openly make a higher treatment
charge and do not endeavor to attain
thls END by buying on erroneous quo
tatlons, trusting to the ignorance of
the true market price by miners. There
is no miner who would not prefer the
straightforward way to the present
plan even if he got no more for his ore
Copper-The demand has slackenad
SUI more, not because business is Door
on the contrary, it is very fair-but
because of the fact that within a few
weeks one of the largest Lake pro-
ducers will again come into the mar
ket to sell, and most of the brass and
copper manufacturers have plenty of
metal ON hand or to receive to run until
then. AS consequence, prices for Lake
copper have been a shade lower and the
material can now be had at as low as
99s, which is the price that is asked
for prime electrolytic copper, while
casting copper remains steady at $50
to $50.
In London, this week, prices have
gone up and down, but the net result
shows loss from the close last week
OF los, as we have now to quote spot
at f4O Us. 3D. @f40 15s., and futures at
100000 Is. Cd. Other prices are as fol-
lows: English tough, f43 los. @f43 15s !;
best selected, f43 los. OLA 5s; strong
sheets, fol los. @f51 15s.; India sheets.
EAT los. @f47 15s.; yellow metal, 4asd.
In this connection we may note that
the phrase &c. NJ Bs," so often met
in the quotations for copper, means
good merchantable brands
According to the latest statistics the
visible supplies increased 1000 tons
during the first half OF this month, and
this, coupled with matters political, is
accountable for the weakness abroad.
The following figures give the produc-
ton Gin tons Of 2,240 pounds of copper
in the United States, and also by the
chief foreign mines, and the exports
from the United States, for Septem-
Der and the nine months ending Sep
TENDER so: