Weekly Arizona journal-miner., 1906-06-13
Larger Consumers Have
Contracted Well
Ahead
Companies Are Making
More Money Than
Ever

Copper continues very strong win
foreign and domestic prices showing
decided tendency TO harden. Lake ~
held at ls7s to 10 cents per pound, ell
il 1855 10 1sa, cents, casting |
is isIs to lsas cents per pound. In some |
instances clcctroly,ic and casting cop |
per are quoted n shade higher than the
above mentioned prices. There is very
little copper available now for dcliv'
cry before September The active
foreign buying during the week past
has pretty well cleared up the supplies
for August. There il some concern
regarding possible advance now in
prices for August delivery, says Geo.
l.. Walker in the Boston Commercial
One of the largest producers, whose
copper is well sold up into September,
says that with continuation Of any
thing like the present demand for the
metal. their entire production will be
absorbed for many months ahead. They
were offered, last week, he said. an or
der for 100000 pounds Of clectrolytie
for delivery in August, but were un'
able to oil il. and do not believe that
prices will 60 below the present level
this year.
The anticipated demand for the me;
tai by foreign consumers set in with
a rush this week, and some large or
dcrs were placed at full prices for Au'
gust delivery. Sales were also ncgotiat'
ed for delivery in September.
Metal interests state that indica
tions point % sustained activity on
the part Of foreign buyers through
the month Of June, and that from now
on exports OF copper to Europe will
show considerable increase.
Foreign consumers, they say, have
been holding aloof for several months
and buying sparingly. in the belief that
: prices would decline below the pre-
sent level. The genuine strength il
the position of the metal has been 81
: clearly demonstrated that they are nov
, Fastening to arrange for sufficient sup
plies TO take care Of their incrcasin,
requirements.
The domestic situation is quiet a
the moment. The largest consumer
4 generally have contracted for their cop
per well ahesd. Several consumer
l have engaged supplies well into tn
' fall months, not wishing to tax
chances on possible greater shortag
I Of copper later in the year. The Chi
: ncsc copper available for export is be
u lievcd 20 be exhausted.
There are unmistakable signs of
a boom in the building Of long distanc
+ high speed interurban electric railway
= in several sections Of the United State
n Canada and Mexico. In some few il
stances they are planned to compel
r, with the steam roads, but in the mi
N jority Of cases they are being hui
* through new and rich country and wi
'r act as valuable feeders to the larg,
4 steam roads especially in the matt
" Of freight.
f. The long distance electric roads ha,
v been especially prosperous in the mort
west, where there IL great activity
mining and agricultural pursuit
They have not been able 10 take care
the business offered them, and in sc
ch eral eases they are being extend
ne as rapidly as surplus earnings a,
~ new capital will permit II would
We difficult TO estimate correctly the i,
m mcnsc amount Of copper that will
cd consumed in this direction alone 4,
'rs ing the next five years.
IN Manufacturers of motors and vario
IRA kinds Of electrical machinery repc
u.s. that they are way behind in the
nd livery of orders, notwithstanding I
ed facts that they are working their plar
over time.
There is no evidence Of weakn,
anywhere In the position of the meta
ok, In the long run conditions will I,
ire. All conditions in the copper market ,
9TH favorable. The companies are maxi
on more money than ever before, and p,
the ing larger dividends than ever befo
nee A continuance Of the prosperity
the months TO come 10 assured.
nee "