Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1905-12-25
ALL WORLD WANTS COPPER
Increase In Electric RailroadinE
Boosts Demand and Sends
Prices Upward.

The steady rise in the price Of copper
and In the shares Of the copper producing
companies attracted more attention In
Wall street last week than perhaps any
other topic Copper metal sold for lsa,
cents a pound. an advance for the week Of
cent. Each day saw advance of at
least II OF u cent. and the leading experts
were inclined 20 the belief that no slack
ening of the price was in sight.
The record price for copper WAS made
IN 1890. when 1eA cents was the price for
time. In 1901 the Amslsamated Copper
company formed a pool to hold the price
up to IL cents. but it broke badly and some
OF the participants were nearly ruined.
Copper declined until the bottom was
touched In 1907 at IL cents. The price has
risen steadily since then, and is only Y
cent below the record figure for ten years.
The steadiness Of the rise in the last two
years. with the present high figure. has
brought about a remarkable boom in the
commodity.
John Stanton. one OF the leading authori-
ties on copper. said that consumers are
ordering freely for April delivery. Con-
sumption, he believes, has overtaken pro-
duction and the consumers are so anxious
to get copper that they are not particular
what prices they pay. For spot" copper,
or copper for immediate delivery. 20 cents
a pound has been paid for small lots, said
Mr. Stanton. the Philadelphia mint having
ordered a considerable quantity. The de-
| msnd for the metal is almost as strong
abroad as It Is In New York.
I'm time more mines will be opened up
said Mr. Stanton. land in another year
! production may catch UP with consump-
ton. But that will take time and the year
| 1906 Is sure to be very prosperous one
| for the copper trade. The demand is
legitimate. 1t has grown heavier. as has
the iron and steel business. No one who
really needs the metal will have to go
without It, but he will have TO look around
a good deal and not be in too much of a
hurry for delivery"
Every evidence during the week has
pointed to an increasing demand for copper
for both present and future delivery In
| Europe and this country. One large wire
concern Is said to have been in the market
for 100000 pounds, but able to get only
| 100000 and at prices above the current
| quotations. The main reason for this grea
and general demand Is the tremendous in
crease of electric traction, copper beinI
required for conducting purposes. Th,
building OF trolley lines and the electrical
ton of steam railroads have drained thu
stocks OF copper metal Last year and tn,
early part of 1905 also saw a heavy expor
of copper to China. where it was used 70
recoinage China is still taking copper 70
that purpose, and throughout the entir
far east consumption is heavy as a result
of the war.
The stocks OF the copper producing com
panies have been scarcely less active durin
the week than the metal Amalgamate
crossed par on Tuesday for the first tim
since September, 1901. United Copper ros
q points on the curb, and every coppe
issue was firm. Companies seldom befor
heard of were dragged into prominence il
the curb trading, and copper speculation
in Boston was the feature OF the marke
there A study Of Amalgamsted show
that fluctuations of that stock have 4
general followed those of the metal. Gen
eral interest in the situation was ais
heightened by Mr.. Lawson's announcement
that his s10,0o0,0oo bear copper pool ha
proved a serious failure.--New York Sun.