The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-07-13
METAL EXPORTS
SINCE JANUARY
Figures Show That Shipments
Abroad Have Helped the
Home Market.

When general business at home is neces-
sarily quiet. due partly to unsettled fl
nancial conditions such as have been ex-
perienced since last fall, or to pend
ing presidential election, or 10 other
causes with economic influence, then pro
ducers-in this case the mining industry
learn the wisdom of seeking an outlet
for their surplus stock other than the
regular channel. says Saturdays Mining
World.
For time domestic prices may be cut
10 encourage buying. but the wise pro-
Queer or dealer in the commercial metals
silver. copper, lead, spelter, etc.-does
not wait long to gamble away his profits
on the possibility OF reviving the home
demand. but studies and works to in
crease his prestige In foreign markets.
The result often is that the primary
source OF supply-the mine and inciden-
tally the metallurgical works-mdy con-
.lnue in operation, while less fortunate
properties are compelled to close down.
Were IL not for the fact that foreign
countries, India especially, purchase the
bulk OF the worlds supply of silver tof
which the United States contributes about
one-third). whether the metal is for hoard
ing, coming or use In the arts, many
OF the mines on the American continent
would be shut down.
True, our government minis bought
nearly 100000 ounces of silver during
the first five months this year. and there
have been purchases by silversmiths and
others. but to a smaller degree than be-
fore the chill was given to prosperity by
last October's money scare.
Silver and Copper Exports.
BY comparing domestic orders with
those for export there is a wide margin
In favor of tho latter. AS nearly as can
be estimated the exports of silver from
January to May inclusive amounted to
37.05s.30 fine ounces. part of which was
won from bullion, ETC., imported from
Maxfa nd -f,n do
nestle supply comes from Colorado. Mon
tana. Utah, Idaho and Nevada, and it is
worthy OF re mark that an appreciable
quantity of silver is obtained in smelt-
ing copper and other ores. The recov-
cry of the precious metals at a profit
will frequently meet the cost of pro-
ducing the copper contained In the ore.
The exports of silver this year are sur
prisingly larger than for the early months
OF 1907. the result of the reduction in
market price The extreme quotations
for the current year are 81 cents low. In
May. and 5S@s cents high. in January,
months of 5000 cents per fine ounce. as
against 67257 cents in 1907. The high
est monthly average price this year was
5s.oI1 cents. in February. and the lowest
81. 795 cents, in May.
Early in July there was a slight re-
covery in the price of silver, due to the
better situation of crops and finances in
India.
this year. which. by the way, have helped
materially to reduce stocks that in fu-
ture would have kept prices at low level.
For the first five months the exports of
copper. refined and metal contained in
ore and matte. amounted to 139 463 long
tons. which compares with 81. Gle tons for
the same period in 1907. Germany. France
and Great Britain were the largest buy
ers. China this year received 6.127 tons
Of American copper. which is just that
much more than was purchased in 1907.
Comparative Copper Prices.
Between the highest and lowest prices
quoted for copper this year there is a
difference of about IL cents per pound
rather small considering the dullness of
the domestic market. Comparing current
prices with those of a year ago. however,
there Is shown falling off of about
1ois cents per pound. Quotations on July
g. this year, were: Lake. 12Ss to l2a4
cents per pound: electrolytic. 12N to 12ss
cents: casting. 12is TO 122s cents. For the
first half this year the extreme monthly
average prices were: Lake copper, 12.SS
cents high, in January, and 12.S1 cents
low. In May, making a six months aver
age Of 1908 cents. which compares with
1859 cents for the corresponding period
in 1907. Electrolytic metal. IA cents high.
m January, and Il cents low, in Febru-
airy. while the average for the first half
OF this year vas 1854 cents, as against
24303 cents In 1907. Better prices are
looked for during the closing months OF