Weekly Arizona journal-miner., 1905-10-18
COPPER CONTINUES VERY FIR IN
 PRICE.
(From Saturdays Daily.)

Copper continues very firm. Lake and electrolytic are selling at 1615 to 16A cents per pound. While it is now generally conceded that consider able sales of the best grade of Lake have been made quite recently at F cents per pound for immediate deliv- cry, there is no desire to strain the point, and call this the market price. Copper ready for immediate delivery can be sold at almost any price up to IT cents. Nearly all of the business now being done is for November and December deliveries, and prices run from 1615 to 1894 cents. No better in- dex to the market can be had than the report of the Greene Consolidated com pany that during September it sold its output of that month for November at an average of 1860 cents per pound. This eompany's copper is refined cleo trolytically, and is not ready for con- sumption until about two months af- ter the ore is smelted. In this com pany's report is found, therefore, con elusive evidence that the present price of copper is above rather than be- low 161a cents, says Geo. L. Walker in the Boston Commercial.
 The largest dealers in copper are not encouraging consumers to buy supplies for next year. Producing and selling interests have not abandoned their eff forts to prevent a runaway market. They are known to privately express fear that the price of copper may go temporarily to a higher level than it has yet reached; but all possible will be done to prevent uneasiness in the trade and the selling agencies will en- deavor to provide all consumers with a reasonable quantity of copper at go- ing market prices. It Is the cOneensus of trade opinion that the average price of copper during the first six months of next year will be at least 16 cents per pound Few care to extend their predictions beyond that time, however, as too much depends on business con- ditions
 A careful investigation of the low quotations and bearish reports put out recently in New York develops the fact that there are certain people who might be financially interested in hay ing actual market conditions misre- presented. While it cannot be stated positively that the misrepresentation of market conditions was intentional, red that it was prompted by mereen- ary motives. it is certain that there has been misrepresentation.
 Foreign business conditions are good and give promise of being much bet ter in the near future. There will con- tinue to be a big foreign market for our copper. Chinese interests will probably be a factor in this market again. They are now making inqui- ries for a large lot of copper for ship ment the first of the year.
 Exports of copper during the first nine months of this year averaged 1ss,751 long tons. This compared with I79,OO9 tons shipped in the correspond ing months of last year. The largest previous export year was 1902, when shipments for the entire 12 months amounted to only 164,451 long tons. The action of the market this week has been such as to confirm the belief held by many of the best judges of copper share speculation that we are only in the initial stages of the biggest kind of a bull movement. It is recalled that the "Lawson disaster advertis- ing" little more than "made dents in the market" each setback being fol lowed by a gradual advance of prices to new high level. Wednesday or this week was a selling day, and the eoppers closed very heavy. To the surprise of almost everybody, how ever, there was no liquidation on Thursday morning, and prices rallied easily A market that acts this way always gives the day-to-day trading element confidence, and growing ae- | tivity naturally results.