The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-10-10

Silver touched the high water mark
of the year yesterday, when the quota
ton of 67$4 cents was received from the
New York exchange. This continual
climbing on the part of the white
metal has BEEN a cause of gratifying
surprise to the talent, but there is
general opinion among the well posted
that reaction will come within the
next few days, although a still further
advance would be received with much
rejoicing by the miners of the terri
tory and the general west. 1t would
be in the regular course of events,
however, for the metal to take a
tumble of several points, then recover
about half as many and again fall
number of rounds until a point just
above that from which the advance
commenced is reached, where stop
is usually made for some time There
is a good reason for this advance,
however, and those on the inside IN
cline to the opinion that the improve
ment in price will be permanent, or ait
least last as long as does the present
increased demand for silver. Some
heavy shipments of coined dollars and
silver bullion are just now being made
from San Francisco to the orient and
the movements from the Atlantic
ports are also unusually heavy, the
demand for the white metal being very
great in London just now. Mexico is
also making heavy exports of the
metal to foreign countries, mostly to
the orient and England.
On the first Of the present month,
the white metal opened at an even 81
cents, where it stood for four success
sive days and then moved up one point
or to 671k cents On the day following
another point was gained and so on up
to yesterday when the highest point
for the whole year was reached. In
April, 6T1a cents went to the credit of
the metal, but from the day it went
down until in July the quotations We're
about 60 cents.
Lead has known no change for sew
eral months, the quotation at which
smelter settlements are made being
S3.15.
Copper Also Improving.
Recent improvements in the copper
situation have also been very marked
OF the market, the Engineering and
Mining Journal has the following:
There has been a decided improve
ment in the market, stimulated mostly
! by the higher prices cabled from Lon
| don, and necessitated also by the re-
( duced stocks in manufacturers hands
which shrunk quite considerably dur
! ing the period of dizziness which we
experienced during the last four OF
five weeks. Considerable business has
resulted, and if somewhat lower prices
have in some instances been accepted
the market on the whole has a very
| healthy aspect. Several hundred thGl
sand pounds of Lake copper have beer
sold from first hands at 12c, but the
larger companies have refused to NEE
that price. Electrolytic copper, alsc
has been obtainable at a slight con
cession, and some business has re
suited at about 115sc.. the exact term!
not having been reported. For cast
ing copper we have still to quote 113
Ollie, with a good consumers de
mand. Arizona copper is held above
the market, the prices asked being
| 105s @102c.
The foreign market has been yer.
strong, and Chile bars closed at tn,
best at EAT Is. Cd. 0f47 los. for spot ant
f47 15s. @f47 It's. Sd. for three months
prompt. For refined and manufactur
ed we quote: English tough, $50 los
@f51; best selected, f51@f51 los; stront
sheets, f57 los; India sheets, f54@
f54 S.; yellow metal 4$4d. Consumer
abroad have bought more freely, AM
reports to hand all show that the con
sumption is very satisfactory. TIL,
statistics for the second half of Sep
TENDER have decreased LOO tons
mostly on small shipments from thi
side.