The copper era. (Clifton, Graham County, Ariz.) 1899-1911, 1907-01-24
Walkers Weekly Copper Letter,

HuihCI UCOhIy OOPPCl LSIIIi'
Copper prices continue to advance.
Lake and electrolytic for immediate
delivery are said to have sold as high
as 234 cents per pound this week. 1t
is difficult to secure quotations, how
eyer, as there are no sellers, pro-
ducers grnerally being out of the
market. One of the largest pro-
ducing interests reports that it has
sold electrolytic for delivery as far
ahead as May for 244 cents per pound.
A representative of several large
producers says: "We can get any
price for copper we choose to ask. "
The market is absolutely bare of
supplies and manufacturers who
have not taken care of their require
ment already must either find some
one who will resell a lot bought at
lower prices or go without.
A gentleman, who from his position
in the electrical field, is better able
to speak than almost anyone else, is
quoted as follows: 1.-The develop
ment and expansion of the use of
electricity can only be measured at
present by the ability to get the
metal, "copper" I have believed for
years that this stage would be reach
ed sooner or later, but did not realize
it was at hand. 1t is plain, however,
that it is the constantly growing de-
mand for ele ctric power that is alb
sorbing every pound of available cop
per, as substitutes for the metal are
being used in practically every other
line.
Copper is coming to be direct
competitor of coal. The world is
using mechanical power in a con-
stantly increasing ratio. Every ad-
vance in the wages of the coal min
ers, every increase in the cost OF
mining supplies and in other mining
expenses increases the price of coal
and, therefore, advances the cost of
creating power.
On the other hand, there have been
most decided advances in the science
of electrical generation and trans
mission, and in many places cleo
tricity, generated by waterpower, is
entering into competition with the
isolated steampower plant. Where
opportunities exist for the creation
of electricity by waterpower copper
at 81 per pound is cheaper than coal
at 81 per ton. Now that electrical
power can be transmitted 500 miles
or more without any appreciable loss,
waterpower privileges are advancing
in price: and the question as to
whether it is cheaper to generate
electricity at the coal mines and
transmit it across country by wire or
to ship the coal to local steam plants,
as is done now, is being Considered by
power economists.
The work of equiping steam rail
roads with electricity is going ahead
much more rapidly than most people
realize, and the prospect now is that
it will continue as rapidly as is con-
sistent with a reasonable price for
and supply of copper.
1t is estimated by high authority
that the worlds production of cop
per increased only per cent. last
year, Notwithstanding the tre-
mendous impetus given to the trade
by the abnormally high ruling prices
for the product. 1t has been ex-
planned in these letters often that
copper production cannot be in
creased rapidly and at will, as can
iron and coal production. Statistics
are presented, for instance, to show
that the output of pig iron has in
creased about 53 per cent. in the past
two years, while copper production
in the same period has increased less
than 20 per cent. If electrical pro-
gress is to continue at its present
rate, therefore, it must do so on high
priced copper.