Daily Arizona silver belt., 1907-05-31
GEO. WALKER 0N
 COPPER PRICES
Metal Is Still Being Held High by Some of the Largest Producers-No Cop per Less than Fifteen Gents in This Generation-Copper Share Market.

Ncoise h. NaiheE oays III HIS cVPPci letter in the Boston Commercial:
 Copper is dull, and, so far as posi- tive information can be secured, there is no change in price. Lake is held al 26 cents by the largest producers, and Eleetrolytic at 25h cents per pound Consumers are holding aloof and wait ing They are not fully satisfied that they will be obliged to pay quoted prices for their July and August cop per. The expected strong demand from abroad has so far failed to put in its appearance. It seems that consumers must come into the market soon, how ever, and it is known that there is no accumulated surplus which can be used to depress prices.
 Three important producing interests who were seen this week stated that the market was inactive. They were holding their copper for future deliv- cries at 25H and 26 cents for Electro lytie and Lake; they are all sold ahead well into next month and are deliver ing their production to consumers as rapidly as it is refined; but they admit. ted that they were getting no bids for copper; that they were not even having inquiries from consumers.
 This situation is not difficult one to understand. All of the important consumers were buyers two or three months ago, and they bought their May and June supplies of copper at that time. The metal is coming to them now as rapidly as they need it, and be- cause of the unsettlement in the fnan- eial world they evidently have deter mined that for a while, at least, they will adopt what is known as the hand to-mouth practice of buying. This means that they will not contract for copper except for immediate or nearby delivery, and will take no chance of being caught in declining market with large stocks of metal on hand.
 One important copper producing in terest says he does not expect to see any material increase in production this year. He declares that the present gen eration will not see another 15-eent cop per market.
 A representative of the interests who are charged with being responsible for the low quotations that are being put out by certain New York trade paper says; "I see no change in conditions. Some large round lots of Electrolytie copper can be had at 24 cents in this country, and copper can be bought at the equivalent of this price on the Lon don Metal Exchange. hear that wire makers are less active, and in some few cases consumers have asked to have deliveries deferred month. Consum- CTS will have to come into the market within the next ten days for their July copper, and it is hard to make predic- tions on the future of the market until they reveal their attitude on future con tracts.
 The unfavorable crop reports, decin- ing security markets and the practical impossibility to sell bonds and raise new money for railroad and industrial expansion are factors that must be reckoned with. If we are to have considerable reaction in general busi- ness the prices of all commodities, in- eluding copper, will undoubtedly decline somewhat. There is unlikely to be any thing of the nature of break in cop per prices. If consumers adopt the hand mouth practice of buying, prices will probably remain at their present level for two or three months and then recede gradually to about 22 cents, and possibly to 20 cents at the end of the year. It must not be forgotten, how ever, that some of the highest authori- ties in the trade express the stronges; that the market will not drop below 25 cents this year.
 The Copper Share Market
 Bearish factors have predominated in the financial world, and prices of cop per shares have declined this week. The extreme advance in the price of wheat, though probably very largely the result of manipulation, has impress ed the public that this year is to be one