Bisbee daily review., 1908-07-01
ALL WAITING
 ON COPPERS
 ID BRACE UP
Dealers Unwilling Sellers for
 June Deliveries at Anything Under B Cents-JuB and
 August Copper the Keynote.

BOSTON. June SO.-There is m news to be gathered here respectine the copper market beyond the facr tllaE the situation is a waiting one Producers here are holding for 1s cents but admittedly are doing little or no business.
 ne situation as sized up by a New York authority indicates that the market is again approaching a cri- sis.
 While the position of the spot metal Is strong, and dealers unwilling sell- CTS of June delivery at anything un- der lS cents for electrolytic, the po- sluou of the July-August copper is the keynote Of the situation. There mas been something of q buying move ment recently in this delivery, but by no means commensurate with tho large stocks to come forward during those months. Producers are under stood to have more copper on hand lhah they openly admit, and it is hinted in some quarters that the strength of the market at the pres ent time is more apparent than real.
 With the curtailment of the out put of the Great Falls smelter, the September-October delivery of the metal will be affected, and, as it is expected that there will be a gen eral rsumption of buying on the part Of the large companies by that time, this will affect to some degree the August deliveries.
 Consumers, however, seem to think that there is little to fear in the shape of higher prices, despite the present strong position, and are Buy ing only Sucn supplies as arc needed 70 fill orders already in hand. There is. however. q tendency to increase their weekly takings.
 Tho dominant feature of the situa- tion. however, is the large stock Of the metal in the foreign markets This stock, a good part of which is being carried by the American pro ducers, is now heavier than it has ever been.
 Added to this, the Rio Tinto inter ests have a large block of the metal unsOld, which is becoming onerous to carry. It Is thought, however. that could American consumers be in duced to buy even in moderate quan- titles for future delivery. the market could be manipulated to higher prices, in spite of the heavy stocks in Europe.
 Reports from manufacturers on the other side show that there is no i'm provement in the demand for finished material, and as they are pretty well loaded up with tue metal. no further purchases of moment can be expected from this source.
 There is, however, a good specula- tive element in the market, which producers hope to enlarge, and con tiuue carrying the heavy stocks of the metal until the consuming de- maud absOrbS it.
 Another observer of copper mar ket conditions says that the abun- dance and cheapness Of money, aD' seuce of short speculative account and a heavy outstanding long account in standard copper has enabled hold CTS to maintain a firm market for re- fined copper in the face Of less con sumption abroad and smaller meitlnn at nome. The easiness Tn money too facilitates the export ot copper to Europe in excess of both require hments and new sales.
 There has been some moderate buying of elecrolytic by domestic consumers for July. and August snip men+. and in exceptional instances .lI7aT sales for September delivery Some of the consumers. who tested inc market, however, did not buy and all told the business actually n1ared was not over 9 lew hlliioL
 If is evident that while both Iir5 ,, .-n secord hands are demaDGiag fui pTlces they are ready to make ~ ~conces S;cus for any imp rtaEI UCIlls-sS ls+sS, Some of the largest i!'dependei , oonsuuers onsr are especially anxious | Sea IuIy copper although on the SUI @ona +bev are demanding very fui prices. ,-.z;,o.a ina E,,rronaan Doroducers continue 10 a' rnn,nIafe HuITf copper. and witt. the larE CT CT supplies of Australian and Ja!,a I nese the prospect is not bright lo . inc marketing of heavy suPPiie9 U American metal
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