The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-01-12

gone etFiOue utplctiou iu' Port N"N''S
months. The year 1897 opens with
Frightening prospects for American man-
ufacturers, and its advent finds them
preparing for trade on much larger
scale. With the expansion Il business
there should be constantly growing de-
mand for copper, both in this country
and Europe, TO meet the extended intro
duction OF electrical proi eUs. aud the
more extensive use OF this metal for other
purposes. Diminished stocks will have
20 be replenished, and with the anticipa-
ton of reasonably higher prices bet9een
now aud spring, the necessity and ineen-
tive or purchasing will no doubt operate
TO produce much greater activity. lodi
cations on the horizon iore~hadow the
return oil much better times for copper
and copper mining sharee, and the pecu-
liarly excellent position OF the metal GER
tainly furnishes a solid basis for vigor-
Gus and active movement in both.
The market review OF the year 1896
opened with Lake copper easy at 10
cents Further signs OF weakness, bow
ever, appearing, the market declined TO
81 about the middle OF January. This
was the lowest point for theyear. There
was a recovery shortly afterwards, and
at the close of January the rally Was
sufficient 10 place The market at 1OA.
February came in at 10Y, the course OF
the market steadily Improving through
out the month, until TX was reached.
During the early part of March values
ruled firm at liz, but the tone soon
changing. prices reeeded 10 10i April
ushered 10 a slight Improvement with
quotations of 10% a IL cents, but the
market soon fell back TO 10% Spot rop-
Der gained d cent per pound. May
huctuated between 10a and 11S About
the middle of this month the Calumet
and Hecla made a sale OF about 10000
900 pounds at ii cents. after which the
market advanced q \ to 4 per pound.
with considerable business thereat. June
opened up firm at liz. and advanced
nominalIy 10 II cents, and closed at liz
July was very dull month. opening at
liz and winding up at IL cents. The
market during August ranged between
1880 and IL Is. September was re-
markedly steady at from 10z a ii cents,
excepting for an export sale reported at
the equivalent OF about 10.52h The
month OF October opened at 104, sold
down TO 10Y and closed at IL cents.
November opened firm at IL cent?, de-
clined to 1915, and advanced to liz
after the presidential election. There was
a large business done both for home and
export account. At the beginning OF
December the market quoted liz a liz
for Lake copper, eased off to liz a liz
but during the last week OF the month
frmer tone vas develo bed with an ad-
vancing tendency. After considerable
BUSINESS had been done at liz, the year
closed with liz "a liz the quotation.
The foreign situation on copper is re-
markably strong. The demand through
out Europe has grown wonderfully the
past year, and the prospect for It's cor
tinuance il excellent. Notwithstanding
the enormous imports OF copper into
Europe, deliveries nave exceeded the to-
tai supplies going for ward, and European
visible supply OF copper January l, 1897,
was 10, 800 tons less than on January /,
1896, aud 10, 1873 tons less than on jan
uary, l, 1895.
Consumption OF copper in England
from January l to December /. 1896, nc-
cording to carefully prepared estimates,
was at the rate OF 7 ,306 tons per month.
and exceeded the total European produc-
ton during the same period by 1.6S3
tons. The increase in British consump-
ton OF copper during the first eleven
months OF last year was at the rate Of
40 per cent compared with that OF 1895.
German consumption had increased up
to last returns 80 per cent, and that OF
France "a per cent. The consumption in
these three countries Is estimated at the
rate OF 394. 0O7 ,O4O pounds per annum,
or an increase of $4,000, 900 pounds
over 1895 Ia addition thereto there
was exported to other European coun-
tries from the United States during the
first ten months OF 1896 total of o..
032 SIS pounds Of fine copper, or al.
$40 ,676 pounds more than was shipped
during the corresponding period in 1895
for the same destination. The position
OF copper 10 Europe. and the unprece
dented foreign demand, is altogether
phenomenal. Stocks of Chilli copper in
Liverpool and Swansea have been re
duced 10 CAT tons during the past year
The lowest and highest prices for LAX,
copper at New York during December
1896, were II 25 and 11.50 cents pei
pound; % 900 pounds Lake were report
ed as sold late in December mt IL Gt
cents The highest price Tor 6. M. b