Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1904-11-16
THE COPPER MARKET.
Higher Prices DO Not cheek buying the
Least Degree.

Discussing the copper market which
has shown appreclab,o gains the past
day or SO, recent issue OF the New
York Commercial says.
with their accumulatQns reduced al
most u the vanishing point ana their
curren, output contracted tof well INTO
the first quarter OF next year the latg-
est copper producing interests boosted
prices again yesterday IN view OF the
increasing demands OF domestic and
foreign consumcIe. The advance, which
amounted 10 We on all grades nude
the average quotation on lake H8lhc
per pound. while elecpOlytio was ned
firmly az li12Hc Under a new ava
lanche Of orders from buyers rendered
desperate for sufficient supplies, the
market became 80 excited that II was
occasionally impossible TO quote any
price on the metal
While a large proportion Of the busi-
ness In American copper undoubtedly
comes from the Chinese and japanese
consumers. who find themselves shut of
from their usual source Of supplies
from the japanese mines, most Of the
orders are written by European, espe-
cially English and German brass found
ers and manufacturers. who are OPP
Grating their plants and factories day
and night In making electrical equip
ments and war supplies, SO great has
been the recent growth OF the electro
cal industries abroad that II Is now be-
leyed that the future demand for these
enterprises will continue TO increase
throughout the coming year AS the
production Is already proving smaller
than the current inquiry, i5-oent cop
per Ia expected within a few days and
no lower prices can be expected for
the next two years
The export shipments to Germany.
England, Holland Italy, Russia,
France China ana Japan In the first
nine days Of this month aggregate 50lS
tons, and It is freely predicted that the
total exports for the entire month VIII
exceed $4,000 tons.
II Is also estimated that export taxi
ings FOR all Of 1905 viii average moro
than 10000 tons a month. AS there
was little copper available for ship
ment before next March, the foreign
consumers were compelled yesterday to
content themselves with small tom
nages for forward deliveries The ma
jorlty Of the producers, moreover.
were 10th to dispose Of their output
even at the present high prices as they
are confident Of further advance be-
fore the end OF the month.
All former price records for the year
were again exceeded In the London
market yesterday but this is becom.
ing OF such frequent occurrence amid
the present wild trading that II Is
hardly deserving Of mention. Net adj
yances OF Is Sd In spot and IS In near
by deliveries OF standard warrants sent
these prices 10 e6A 12s Cd and e65, res
pectlvely while best selections scared
81 to SIS 5s. The cost to import Am.
erican copper was generally quoted by
the most prominent interests at CSC.
Total transactions abroad Included
200 tons OF spot and 900 tons Of future
warrants.
Anthony was again excited yester-
Jay as almost all the largest accumu-
lotlons were held by the Cookson Co.
Of London, which has now virtually
cornered the market. without sufficient
supplies TO meet the demands Of con-
sumers, local dealers held their small
offerings at prohibltlye figures. Cook.
sons brand being quoted at S.S5 Hal.
let's at $50 and all other grades al
S.Slla per pound, while London opera
tors advanced their asking price on
Hnlletts TO G35, and on the ordinary
brands to ESQ per ton.