Bisbee daily review., 1905-12-03

ond place on the list of copper pro- cucing countries in 1904, the United States taking the lead with 361 .9SO tons. and the worlds production being 651 900 tons.
 A London Opinion.
 H. R. Merton & Co.,, of London. write under date of Nov. II: The shipments from New York. PhiIadel- phia and Baltimore for the week end ing the 11th of November, are cabled as S663 tons. of which 200 tons are for the Far East.
 The liquidation of speculative hold. ing which was in progress during the previous week having ceased, and cer- tain elements of weakness having been removed thereby, the market has been able to dissociate itself entirly from all outside influences. and it's in herent strength has again come to the surface with even more intensity than on previous occasions.
 When in August last the notorious Boston operator frightened the cop per trade by his prediction of an i'm bending break in values, consumers suspended their purchases, specula- | tors threw their holdings overheard. ! and large bear sales of standard cop per were made by parties who had faith in the absurd statements given out at the time. The conseuuence was serious fall in prices. but the market has now entirely recovered i from this and every subsequent at tack, thanks to the wonderful absorb | ing power of the copper trade and 1 during the present week standard | copper has reached it's highest level for period of five years, namely, e73 | los.
 ! The over-old condition of the specu- lative market, to which we have re- | ferred in previous reports, has been distinctly revealed during the past lew days, when bears showed the keenest anxiety to cover their con- mitments. being obliged to pay advan- cing prices on almost every transac- ton. There has been great activity
 with good demand for standard cop
 per for three months delivery, the price for which at one time touched
 4dl IFS Cd, but the bulk of the busi-
 ness was done for nearer date for
 which an improvement of 3Os on the
 week IS to be noted, closing values
 being E73 5s cash. e71 5s three
 months.
 The total transactions during the l week amounted to about 5000 tons The hrst impetus to the fresh un- ward movement was given by suI- Phate or copper makers who have e,- Rerienced an increasing inquiry for thelr product, and have hasteped m provide themselves with material nao. ! esSary for the manufacture of san,a Heavy premiums were paid for the Lavorite brands of Chin bars and practically the entire stock and all tba |, copper on the way from Cbi1i have been disposed of to consumers
 The scarcity of the metal is now be. coming a very serious motter iroe inuch as practically all the leading etouucers Tn Europe and the United states are absolutely sold out for thls years delivery. whilst consum. CTS are onl y partially provided against tne'r requirements, and stocks are ar d lower level than they have ever oeeh before. The demand from all consuming centres of refined conner IS exceedingly brisk with a large bus. mess moving in electrolytic conner TOT January-February delivery. whist dealings for December have been greatly restricted owing to the diff. culty Of supplying the necessary ma. terial.
 Prices in all directions are higher and even the Amalgamated Conner company, who are reluctant 10 let prices go higher, have been obliged to raise their demands against con. sumers owing to the enormous quanti. ties asked for. Some business in Japanese copper has been possible at last. but high prices had to be con- ceded for some of the best brands.
 Our representative who has visited the most important industrial centres of the United States cabIed us during the week that consumption every. where is on very large scale, wiCh a tendency to expand further owing to the favorable prospects generally, that prices, although high, are likely to advance further, that stocks of cop per. tin and other metals are practi- cally exhausted, and material for near delivery difficult to obtain. and that the present condition of affairs is not due to speculation but to legitimate business. Wellinformed people give It as their opinion that the conditions are such that no decline in values is to be feared, unless very adverse cir cumstanceS should intervene. before the middle of next year when crop con ditons will decide the further march of events.
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