The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-05-05
Copper.

The following is taken from the month
ly copper circular issued by ID. Houston
X Co., the metal brokers, of % Plat
street, New York:
Taken altogether the month of Apri
closely resembIed March IN the dull condi
ton OF business. The market for Lake
copper at the beginning and end OF the
month ruled practically at the same tig
ures, viz: l0sMll cents During the
past thirty days the range OF fluctuations
have been mostly within the limit of a
quarter of cent per pound. Transac-
lions for the most part were confined 70
moderate sized parcels, with lew sales
outside OF the narrow routine, cons mers
generally speaking, pOstponing the plac'
Ing o. heavy orders.
Foreign shipments OF copper to Eng
land and the continent, however, continue
to be the leading feature, and these are
of such remarkable magnitude that sup
plies are prevented from accommodating in
n manner that would imperll values.
The enormous exports of American cop
per have been sufficient in themselves TO
maintain the present level OF prices in the
absence OF free local buying, notwith-
standing diminished consumption and
lack of active home demand. The fact
that some OF the leading manufacturing
concerns have been running on reduced
time emphasizes the dull state of trade.
1t is probable that consumption is now
down to the low basis OF 1891. Slow
trade in manufactured goods temporar-
lily lessened the demand for the raw ma
terial among the home consumers. But
Nj 10 N nf INIff nf
hand, these conditions are liable TO give
place to more favorable ones. There will
undoubtedly be recovery from the pres
ent state OF depression directly the two
great parties in the country declare un-
unequivocal terms for sound money.
Statistical estimates furnish data in
dicating thaC Eogland with its 10000
900 population actually consumed more
copper during the first quarter of this
year than the Unitet States with its TO-
100000. English consumptCn alone for
the period named is g 654 tons greater
than for the first quarter last year, while
European deliveries the first three
months OF 1896 were u 900 tons The
deliveries in England and France alone
reached total Of II, 5SS tons, against
80, 462 tons last year. The check tocon-
NOuuiIa lhurl Dt
ed az only temporary. The foreign de-
mand is expected TO continue good, and
with consumption here at normal safe
equilibrium could be maintained between
supply and demand.
Exports OF copper from the United
States for the first four months of this
year are equivalent to the entire output
of the Anaconda aud Calumet and Hecla
companies since January |, aud amount
TO over 1000 900 pounds of fine copper.
These exports exceed all former records,
and Europe has absorbed them in an as
tonishing manner. The public stocks
abroad decreasing IN the face of these
heavy shipments Verify, this country
has proved itself the lions provider and
the natural results will be seen later.
Lowest and highest prices OF copper
during April, 1896, were 1915 and IL
cents per pound for Lake copper at New
York, and Gil % Cd and Gl5 LIS Cd p r
gross ton for g. NJ. b. SPOT copper at
London. One sale was reported at 10y,
which, however, was an exceptional case.
London sales of G.. VI. B. copper in April
a mounted to Is, 225 tons.
Cooper pro iuction, in tors OF 2,24O
pounds a. follows;
March