The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-08-07
THE SUPPLY OF COPPER.
NO PRESENT MORE THAT n WILL
oUICKLY EoULL DEAA"D.

increase IN Production Ihis teNr bo" An"'
4 Per Cent, Increase In Demand 70
Consumption Nearly so Fer Ccnt.-Ever
Advance in Electrical Science Greater
Greater Demand for tho Metai-Higi
Price Rcopens Old Mines and Calls Il
Scrap Copper. but Doesn't Bring Relief
Copper brokers. copper sinsIterS and copper
miners who have been scon by THE sun re
porter the pnst week all agree that the mar
vellous increase In the demands for copper
metal that has developed tho last year Is going
TO continue. There Is M the present time nr
actual scarcity OF ths metal The mines
OF the world are not producing anywhere
near as much copper "a is needed &c
carry on the tremendous electrical i'm
provements that nro In process, Inc
United States IL tho great copper produc-
ing country 81 the world The average pro-
ductlon OF the United states for some years
past has been in the ncighborhool OF 2ooOJ
tons per month At tho present time there isnot
ton Of free copper In tho country. That is to
say. all the copper that has been produced M
to the present time s now in tho process OF
manufacture This in spite OF the fact that the
mines in the country produced during the
first six months Of the year l2+. 4ST tons.
In Europe the entire stock ct present is in
the neighborhood Of 10000 tons. or less than
two-thirds OF single months production in
this country. This In spite OF the fact that.
since January. this country has exported to
Europe S3. 400 tons. and in the Inst two months
has sent there nearly l7.0OO tons. and in spite
OF the fact, too. TINT European mines have
Themselves produced $1,000 tons in six
months. This 10000 tons OF copper is all the
copper there is to he had.
Correr to-day is selling for from ls', to 10
I,i,,n cplJ for
cents n pound. Five years ago 1t cost to pro-
duce copper in the best mines in the neiRhbor-
hood Of cents pound. delivered in New
York to-day in the best mines il costs little
more than cents pound TO produce 1t and
deliver IT. SO that the profit tho copper
mine owners are making to-day is something
over 10 cents pound more than in lS'+.
The men who are familiar win conner husl-
: ness IN all It's branches say that the demand
for copper In these years-or. rather since tho
present boom started-has Increased 90 per
cent. In that time tn" customary 10 por cent.
annual increase in production has not been
kept IN. and this present year. instead OF the
10 per cent. increase in the amount OF the
copper taken from the mines that copper
users expected. there has been less than
per cent. This is not because anybody has
tried to limit the production. because
all the workable mines have been worked
almost to their limit, There IS not and has
not been sine" IN" demand Tor copper began TO
rise anything approaching corner IN copper.
There ms h""n no attempt 10 corner copper
Inc demand Tor the metal mas been surh thht
IL mas occupied AL the energies OF everybody
Interested In tho metal In tho production oil 1t.
Tho increase in price has been the result OF
the working OF tho law OF supply and demand
vi course II IL customary IN times ike these.
when the supply OF an article does not reach
the demand and IN" price goes way up. to say
that the commonly Is being cornered. or II
many sources OF production are in the hands
OF one concern that the combination is limit
ing production to boost up prices, But prices
have gone up so high in this case that they
enable owners OF mines long since abandoned
because the ore could not be taken out at a
profit. to resume operations and compete with
any com bination. no matter how big u NAV be"
10 put hematter In ano'her form, the owners
OF big mines which may be in com animation
can produce their ore at u. and cents
pound. There are many old mines that cant
produce ore for less than II. IL or IA cents
pound and as long as the copper stays at IL
cents pound no combination can ever con-
troll the production unless 1t gets in all the
mines in the country.
The story OF tn" rise in the price OF copper is
tric'ty. The two have gone hand in hand
Every improvement in tn" electric line has
brought ont fresh demand for copper: every
Improvement that IL made nowadays brings
out new demand for copper. Hardly city OF
any importance in this country to-day hut has
Its electric railroad. its telephone system. ts
electric lighting plant To every one Of those
Industries copper In large quantities is essen
tinl. In Europe electricity has not advanced
anything like 1t has here. but to-day Europe
Is following tn" United states In the
Introduction Of electric railroads partc-
ularly. In England and other countries they
are putting in overhead trolIeys In France
and Germany and all the other countries cleo
tricity is coming NOR" and more into use. and
II is matter OF very few years when 1t will
be In as general use in all parts Of tn" world as
II Is in the United States to-day. and with it
must OF necessity come further increase in
the demand for copper In the meantime in
this country its use is being extended more
and more each week and each month
II has come to the point in the copper bust
ness where old copper Is being broken up and
melted anew. That is 10 saw in former years