Bisbee daily review., 1908-07-17
MINING INDUSTRY
LOOKING ABROAD
For an Outlet Aside From the
Regular Channels in Which
Sales Have Been Running.

necessarily quiet, due partly to uu-
isettled financial conditions such as
have been experienced since last fall,
Tor to a pending presidential election,
or to other causes with economic In
ifiuence. then producers-in this case
1.-THE mining industry-learn the WIS
dom of seeking an outlet for their
Isurplus stock other than the regular
channel
For a time domestic prices may be
cut to encourage buying, but the wise
producer or dealer in the commercial
lmetals-silver, copper, lead, spelter,
\ etc-does not wait long to gamble
AWAY his profits on the possibility Of
lreviving the home demand, but stud
les and works to increase his pres
ltige in foreign markets. The result
often is that the primary source OF
lsupply-tlae mine and incidently the
Imetallurgical works-may continue
lin operation, while less fortunate
properties are compelled to cIVse
down.
Were it not for the fact that fort
eign countries, India especially, pur-
chase the bulk of the worlds supply
of silver fof which the United States
contributes about one-thiTd). wheJues
the metal is for boarding, coming or
use in the arts, many of the mines on
| the American continent would be shut
down
| True. our government mines bought
NEARLY 100000 ounces of silver dur
| ing the first five months tlis year.
and there have been purchases by sit
lversmiths and others. but to a small
er degree than before the chill was
given to prosperity by last OctobeT's
money scare. BY comparing doiues
! tic orders with those for export there
| is a wide margin in favor of the lat
| ter. As nearly as can be estimated
! the exports of silver from January to
I May inclusive amounted to 37,0TS,030
fine ounces, part of which was won
; from bullion. etc, imported from
| Mexico and Canada. The largest do
Imestic supply comes from Colorado,
Montana. Utah. Idaho and Nevada.
and il is worthy OF remark that an ap-
Ipreciab'e quantity of silver is Oh
tanned in smelling copper and other
ores. The recovery of the precious
metals at a profit will frequently meet
| the cost of producing the copper con
tanned in the ore.
The exports of silver this year are
Surprisingly larger than for the early
months of 1907, the result of the re-
dUction in market price. The extreme
| Quotations for the current year are
| 80 cents low, in May, and IS 3-S cents
thigh, in January, making an average
| for the first six months of $1,000
cents per fine o.. as against 67.257
cents in 1907. Tie highest monthly
average price this year was 56.011
cents. in February, and the lowest
52.795 cents. in May.
Early in July there was a slight re-
coveTy in the price of silver, due TO
the better situation of crops and f.
nances in India.
| Copper exports show a marked in
crease this year, which, by the way.
have helped materially to reduce
stocks that in future would have
kept prices at low level. For the
| first five months the exports of cop
per, refined and metal contained in
ore and matte, amounted to 129,463
long tons, which compares with Ca
| SIC tons for the same period in 1907.
Germany, France and Great Britain
are the largest buyers. China this
year received 6.127 tons of American
copper, which is just that much mere
than was purchased in 1907.
Between the lowest and highest
lprices quoted for copper this year
there is a difference of about l IL
cents per pound, rather small cOnsid-
lering the dullness of the domestic
market. Comparing current prices
with those of a year ago. however,
there is shown falling of of about
no IL cents per pound. Quotations
on July s. this year, were: Lake,
u SIS to u "a cents per pound; cleo
trOlytic. u 3-S to u SIS cents; casting,
l12 is to u SO cents. For the first
half this year the extreme monthly
leverage prices were. Lake copper,
I13.SS cents high, in January. and
l12.S1 cents low, in May, making six
months average of 1909 cents,
which compares with 24.939 cents TUr.
1.-THE corresponding period in 1917.
iElectrolytic metal. IA cents high. in
January. and IL cents low. in Febru-
larry. while the average for the first
half of tnis year was 1884 cents. do
against 24.303 cents in 1907 Better
prices are looked for during the cIUs-
ling months of the year.
Spelter and zinc ore have both
shown expansion in exports this year.
IOf zinc ore there has been sent
abroad 1868 tons tons for the first
five months this year. as against
lS,071 tons in 1907; and of spelter,
I3I13,O27 pounds. against sos, 1886
pounds in 1907. The zinc mining and
smelling industries have suffered Sc
} veTely from the depression in domes-
tic business and low prices, but the fu-
ture will be brighter. The extreme
Quotations for spelter at New York
this year are 4.S5 cents per pound
high and AS cents low, in February
while the average for the first hall
this year Is 4.617 cents, against 6.5S2
d cents in 1907,
From $50 cents per pound low. iT
p January, the quotation on lead mas
/ gradually risen to 4.55 cents in June
making an average for the six month;
lof 4 cents as against $50 cents for
: 1.-THE same period in 1907. Export
trade has been small, 20,366 pounds
. for the five months ending with May
p las against 36406 pounds in 1907.
The export trade in quicksilver con
: tinues to fall off. owing partly to tat
2 Tighter demand from China and Mex
; leo. During the first five months this
! lyear the exports totaled only S3.SS4
, pounds, as against 223.3 pounds in
1907. Fortunately Cor producers
lprices today are somewhat better thar
l a year ago, although recently a re
! duction was made. At S43.50 pei
flask of IL mounds N n New York