The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-11-06
MINING.
Copper Circular.

During the month OF October the mar
ket for copper not only held it's own
but improved in tone, notwithstanding
the sale of Calumet and Hecla copper
about the middle OF the month to the
home trade for the balance OF the year at
1Oh cents. Both previous and subse-
quent thereto, other sellers obtained / 0.,
the market meanwhile, during the past.
fortnight, showing much firmer ten.
dency with bids OF 1OK and no offerings
below l cents for balance of the year.
At the close sellers are positively indiifer-
ent about negotiating on business until
after the decision OF the country is rem
dered regarding the momentous event
now in suspense. Buyers, however, man.
ifest more interest in the market, and
copper could be placed at l 1 cents at this
writing. Sales for November and Deem
Der have already been mace within the
past few days at this figure.
In no direction il there any accumula-
ton OF supplies to disturb prices, and
with such scarcity OF raw material
above ground seeking market the cop
per marke. in itself is particularly
healthy. Although production in this
country for the ten months ending Octo-
Der 81 will approximate to about 1885,
$50 tons, being an increase OF about g.
$50 tons over the same period in 1895,
vet the extra shipments to Europe this
year Of about $1,000 tons have really
reduced the available supply in this coun-
try since January l more than 1850
tons, 30 that the statistical position of
copper here is stronger than a year ago.
The international character OF the COP
per market gives American producers a
distinct advantage, so that they are not
dependent on the home demand for mar.
keting more than 10 per cent OF their
output, Europe having taken. up to No
yember /. about go per cent OF the total
American production. Demand here has
been so perfunctory for months past on
account OF financial and political uncer.
tainties, that the prospect OF speedy re-
lief from these disturbing elements will
he welcome boon to trade. A settle.
ment OF the financial agitation by a
sound money victory, and consequent
restoration OF confidence, will undoubt- |
eddy soon resuscitate the market into
more vital action. Brass mills have been |
somewhat more busily employed, but are
still operated considerably below their
normal capacity.
As to the foreign copper situation, ad-
vices from the most reliable sources in
Europe Indicate the undeniably strong
position oil that metal there. With
exports from this country now aQgre.
eating fully 224, 00O, 600 pounds of fine
copper since January 1, to date, these
ennrlous shipments have not only been
asily and promptly absorbed, but stocks
q England and France have been reduced
bout 10000 tons during the same
,eriod. The actual consumption OF con.
yer in Eogland and throughout the con.
inent OF Europe continues to be immense.
md to look tor any diminution OF the
anne is to look for an improbability, az
hings appear now. On the contrary.
With the increasing demand for electric
and the installation of electric
lighting plants, the use OF copper should
,e largely augmented. Consumption OF
Upper In England alone during the first
line months Of this year, az carefully
has averaged about Is. $780,
100 pounds per month. and the total
ua.Ity consumed from January to
sptember 30 exceeds that for the entire