The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-07-19
Influences Governing Market.

ton in the report sent out, which reads
! as follows:
influences Governing Market.
| While there has been no large sales of
copper since the price was reduced to %
and % cents for Calumet lake and cleo
| trolytic respectively, we understand that
the United Metals Selling company, dur
| ing the past two weeks, has sold between
| 100000 and 100000 pounds in small
| lots to such consumers as are taking
| their supplies on a hand to mouth basis.
| The Calumet & Hecla company, which
| produces and sells less than one-sixth of
the amount annually sold by the United
Metals Selling company. has probably dis
and abroad The Copper Range company
recently sold 100000 pounds at % cents,
which represents its apportiOned allotment
| of the sales of the United Metals Selling
company.
The Metals Selling company has notified
buyers that they need not expect any
| further reduction in price, or at least
| this company would not take the initia-
tive. of course if the Quincy company,
| for instance, which is an important trade
| factor, should find itself in need of cash
! it might decide to reduce its price to q
cents, in which event the other large
| sellers would be compelled to meet the
market.
Small Producers Cut Ice.
| During the next three or four months
poTtant factor in the metal market. for
they have it in their power by price
cutting and further sales to disturb a
situation already nervous and unsettled.
| Charles +, Brocker has not yet bought
beyond his immediate requirements, and
says he will not do so until the stua-
| ton looks more clear. The United Metals
! Selling company is disposed to view the
present price reduction wholly I'M
necessary and a step which had needless
/ ly thrown the industry into confusion.
An interest affiliated with that company
says:
ct would be utter foolishness to at
tempt to forecast the immediate future
/ of the copper metal market. All that
| can be said is that the production of cop
per in the country at present, is below
| the production a year ago"
| Sales of electrolytic copper have been
/ made in Europe at 2l1a cents, which is
under the recently announced quotation
of the United Metals Selling company.
| Business abroad is by no means active
and the amount taken for export since
/ Tuesday of last week, when copper prices
were reduced, is comparatively small.
Lake copper is selling for 2212 cents a
pound, but transactions are light.
Production and Consumption.
! A preliminary report on the production
of copper for the year 1906 has just been
| compiled and issued by L. c. Grafton, of
| the geological survey. In view of what
is now happening in the copper metal
/
some interesting figures are found in this
report. The entire production Of the
| United States was 500, 59f, 947 pounds. Re-
fined and classified into the different
brands the report gives the total at $751;
56S, 23T pounds. 1t is then interestingly
shown what becomes of it all in the fol-
lowing table:
Total domestic refined
! copper produced in
/ 1906 .... SIS, 56S, 237
Imports for consump-
ton, foreign origin. .215, 402, S4
Stock at refineries Jan.
! !, 1906 .--.....-.-..-.--.-1lS,2440
Total available sup.
ply $50. ,.......... 1,216, 215, JOG
Stock at refineries Jan.
| ], 1907 .....--.........-. G,4lO,(gZ
| Total withdrawn
from supply $3.50. SO, 2s1 500
Apparent consumption. 676, 1893, SOB
| Those Who Use the Copper.
But this copper story would not be
| complete without using the following
| from q recent issue of the Boston News
| Bureau, to show who the big consum-
ers of copper in this country are:
| There are less than twenty-five large
/ buyers of copper in the United States.
1 Five concerns purchase and consume
over 5c0,OOO,OOo pounds per annum, as fol-
/ IONSs
! American Brass Co ....-.........25 $50 600 900
Roebling & Sons Co ....-....... .100, 600 900
| General Electric Co -........-.... 70 00o. 900
American Steel & Wire Co 49,. 10000, 900
| National Conduit Co .........--... 50,000, 900
Total pounds ....-............ .s25, 900 OOe
J Other large consumers are the Stand
ard Underground Cable Co, Pittsburg,
Pa; Detroit Brass & Copper Co, De-
troit. Mich: Rome Brass & Copper Co,
Rome. N. Y; Seymour Manufacturing
Co., Seymour. Conn; Bridgeport Brass
| Co. Bridgeport Conn: Scoville Manufac-
turing Co, Waterbury, Conn; Plum &
| Atwood Co. Thomaston. Conn: Chase
Rolling Mills. Waterbury, Conn; Ameri-
can Tube Works, Co, Boston, Mass:
Winchester Repeating Arms Co.; Ansonia
Electric Co, Ansonia, Conn.
The above concerns consume the bulk
of the American copper production. The
Western Electric Co and the Westing-
house companies, large consumers of wire
and casting copper, are not included. as
they seldom buy their copper direct. They
buy 1t in the manufactured form and a
good portion of their requirements, es-