The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1908-05-25

bus lON, May Z3.-lL was uul
copper metal market during the pasi
week. with prices shading a small
fraction. In face of improved senti.
ment. business conditions and q
buoyant stock market copper alone
has failed to show any activity.
Frequently comment has been
made on this situation, all more OIL
less unenlightening. Production has
not as yet increased materially, and
there are no large blocks of the
metal overhanging the market.
Probably a fear that the much talk
ed of new production of the Ely camp
will mean large overproduction is
a potent factor in keeping consumers
out of the market
With copper metal ruling slightly
under 10 cents, the apparent profit
to the producer is very small. 1t has
been asserted that it is possible for
some mines to produce copper at
about S12 cents per pound, but in
the greater majority of cases the
cost is much above this figure.
The cost of laying the product
down in the market is but slightly
below the present selling price. So
il the metal is to go lower. the de-
mand must be filled by these cheap
producing companies, as there has
been no important accumulation of
stocks, mainly due to the large export
movement.
Ii is probable that the chief pro-
ducers, rather than sell the metal
much lower than the present price,
which would entail an actual loss,
would again shut down their mines.
Therefore, it would reasonably seem
that the metal market is scraping on
bottom.
j. X. Stanton has the following to
say on Saturday, regarding copper
trade and market conditions, to a
representative of the Boston Finan-
cial News:
Conditions are practically I'M
changed from those of some time
past. The same reluctance to buy is
evidenced by consumers. While the
market is somewhat heavy in tone,
light offerings are the rule. The
sagnation is therefore more due to
the light demand than to any un-
healthy condition of stocks. There
were some fair sales of Electrolytic
during the week, through Lake was
neglected. The product of two or
three small mines, smelling at the
Quincy. is pressed for immediate
sale A slightly better demand was
reported in commercial lines for
manufac gured products 1t is ex-
pected that the railroads will short
ly resume the identification of their
lines. In the case of the New York
Central alone, a large amount of this
work was left uncompleted. feel
that it is simply question of time,
and probably a short one, when the
turn will come. When it does come
it will come quickly, and much cop
per will be found in sight"
In connection with the present con
ditions in the metal market it is in
teresting to note that for the first
time in fifteen years the world S
production of copper in 1907 showed
a decline amounting per cent short
of the preceding year. The curious
fact to be noted in this connection is
that while the worlds copper pro-
duction was 5000 tons short of the
figures of 1906 the United States
production showed a decrease over
that year of 10000 tons. The de-
cline in consumption amounting to
sc per cent, mostly due to the fall
ing off in the demand in this country
Consumption in the United States in
1907 is estimated at 232 800 tons as
against 29S,600 tons in 1906, a de-
crease of 22.1 per cent
This decrease according to the
statisticians has no parallel, either il
actual figures or in percentages il
any one of the preceding years.
At the end of 1907 it is figured
that the stock of copper on hand il
the United States amounted to 80,
0O0, 900 pounds, which has been con
siderably reduced by sales for eX
port and for domestic consumption
while the production during the 81
months of 1908 has not shown an
increase to speak of.
There are some interesting dat
on copper production and consumI
ton in der Metallgesellscraft un
der Metallugschin Geselschaft.
In computing the worlds cor
sumption for the year, when the IL
crease in the visible stock stored
Europe and the estimate of 1890
tons for the stocks in the Unite
States are taken as basis, the 70
lowing figures are arrived at:
1904. 1906. 1906. 1907.
$4,000 $4,000 723,000 $500
The production on the other han
is estimated as follows for the world
1904. 1905. 1906. 1907.
647.90O sos 900 1880 712.S0
Average London Price.
1904. 1905. 1906. 1907.
f59 cd $50 LIS fS7 S. Cd fs7 Is s
Average United States Price.
1904. 1905. 1906. 1907.
13.O1c. 1880. 19.616c 20.004'
Commenting on conditions elst
where than in the United States thi
paper says:
"Germany's copper statistics 70
1907 show only unimportant change
when compared with those of tn
proceeding year. The production @
$1,000 tons remains about 400 ton
- rRraanndinU