Great Falls weekly tribune. [volume] (Great Falls, Mont.) 1894-1???, 1895-05-24

COPPER MARKET BOOMING.

neering and Mining Journal says thu
copper market:
THE market has broadened further
and W have a larger advance to repor'
this week than for some time past. Oul
readers will remember that for weeks
we have commented on the firm market
and the hardening tendency, and if
nevertheless, a great many consumers
find themselves without supplies, it is
surely not the fault of II reports. The
demand for the finer grades of copper
has been very large indeed, and can only
be compared with the tremendous de
mand of 1889 after the collapse of the
French syndicate, when prices came
down from the artificial point of say
about tic to lie. The trade then felt
that a heavy incubus was removed and
prices rapidly advanced, guided only by
demand and supply to l5@lGc, and at
these figures the enormous mula-
ITEMS which then existed were speedily
disposed Of. Today the position is SINH
u ohlt III 'iC PoAbt' ahN lAub ~ Nia
the demand is evidently very much
larger than the supply, and that tho re-
serves that one might fall back upon are
very limited indeed. In Europe only the
visib BILE supplies can be taken into con
to only $4,000 tons, equal to Il five
months consumption in Europe only. In
this country the total stocks are not
,ou %Ir~ o. 900 <~r, ~ %ln ,$r,~,& 400
haps not so much as that, a great deal
of whichh is locked up in electrolytic
works, while consumption now comes
near 5000 tons monthly, SO that we have
only a little more than four months sup.
ply on hand. The advance in prices may
appear somewhat large when we look at
the lowest figures reached during the de-
preston Of the last two years; but leav-
ing this period out of the question, they
are practically as low as at any time
during the preceding ten years, and they
car therefore, not be called high at all.
While We are only too glad to see pro-
ducers get fair profits in consideration of
the great risks which they run, we
should not like to see prices pushed up
too rapidly. as they could not be sus-
tanned for any length Of time, but still
there is very great danger of the actual
stocks shrinking SO much hat a real
famine may come during a time when
the trade will demand larger supplies
than are actually Forthcoming from the
current production. Our advice to con-
sum"rs is therefore to be on their guard
aud not get short OF supplies.
The market for copper was firm all
through and business was restricted on
account Of the high prices asked by
owners and the unwillingness on the part
of consumer to cover. When, however.
the London market showed signs of very
great strength, buyers raised their limits,
and towards the last few days a very
large business was done. For Lake 1Oln
to 1918 was paid for large quantities
and at the close some business took place
at l0l4, Electrolytic copper is no longer
TO be had below 10c. Casting copper
remains somewhat behind. as usual, but
also closes strong at 9}M93a, delivered,
according to brand and quantity. The
tendency remains strong and manufac-
turers report a very satisfactory business.
The market in London has been very
active, and during the week the tran
sactions in copper in London metal ex-
change were perhaps larger than at any
previous time. The transactions on the
second call of the London metal ex-
change yesterday amounted to 1000
tons. q. M. BIS. opened at Gal % Cd. for
spot, and E41 los. 3D.. for three months
prompt, and gradually hardened until
yesterday, when large speculative buy
ing was noticeable, and the market on
one day advanced IL, the closing
quotations today being GA for spot and
ga los. Cd. for three months prompt.
"ltumors are current in London that
deal has again been closed to re-
strict production, but not being in a
position to give more definite inform
alton on the subject, we limit ourselves
to simply mentioning the fact. In view
of the large fluctuations during the week,
we omit our usual quotations for refined
and manufactured. We hear that lake
copper has been selling abroad during
the last few days on the basis of lOc.,
f. o. b. New York, and higher prices are
now asked"
The Boston correspondence of the
same journal contains the following:
"The boom is fairly OF in the copper
stocks. and the market has jumped up
to figures which have not been reached
for a long pcrlod. Everyone has the tip
to buy, and it matters not which one of
the list shall be bought. as they are all
expected to see much higher prices in
the near future. The Montana stocks
take the lead and under the stimulus Of
higher quotations for copper have been
bid up to high rates, and a reaction
would not seem improbable whenever
attempts are made to realize. Boston G.
Montana advanced from $3.50 to SAT- 80,
the highest price being reached today.
Butte T. Boston started at 513a and ad-
vanced rapidly to S15.25, closing at the
latter figure. Sales of these two stocks
aggregated over 10000 shares.
"The market closes strong; Boston G.
Montana touched 548, and the whole list
is in active demand"
After a scalper.
Special to The Tribune.
HELENA, Mont, May l7.-By permits
sion Of Judge Blake, County Attorney
Purcell this morning filed an informa.
ton against j. Burnheim charging him
with unlawfully engaging in the bust
ness Of selling tickets Of a common car