Weekly journal-miner., 1908-11-04
BRIGHTER OUTLOOK SMILES LIN RED
 ME TAI MARKET
All Indications Point To Rise Possibly
 To l5 Cents
oFrom sundays DaIlyD

tnpIoi i- ranging SD very close tD II .cu'- pouud that there is no qucs- ,Iuu uf The improvement, says the Mining Record On" of 'hc important factor, iu thr red metal si,uation, in answering 70 query as to why the price id not advance. called attention Co tnr fact that inc sales of copper pro. iuccd in thi. country have, for some t,uc been in excess uf the production.
 Taken in connection with the in ercascs in the consumption of the rcd metal in the country. we can readily see that the statements made to the cfcct that there K no surplus of stock copper on hand in the United States arc well founded. In standardization of this is the report that the General Electric company purcnased during the past week several million pounds of copper. calling for delivery next year Here, also, we find another indication of the general trend of business. No large corporation. such as the General Electric, is going to buy m those quan- titles unless there is proof that busi ness will itself become better. There have also been several tentative or dcrs placed pending the outcome of the election This has given rise to strength in the price of copper.
 Of course there is some agitation regarding probable tarih rcvisions, hut trc-c are lu,j. so far %, their i'm pur'lr.c q. concerned. when wc con s..cr tUc increasing consumption here and abroad In fine. thc exports for Copper wIi aggregate for October about .5.uuo tons. showing that the healthy rate of buying abroad i, not abating even with the strengthening of the red metal market.
 Taking a look in restrospect we find tha, in the summer the sales, while frequent. were small They were figured by the thousands of pounds and not by the millions. When the first l,O00.OO0 pound sale was made in this country for the year the copper interests began tO take notice, but now that there are evidences of multiple millions it is a sign that there IS really n decided change for the bet ter.
 This has caused the right sort of ef- feet in the copper share market and there has been a change in tone the past few days. Heavy interests are buying and the copper market looks as though it would soon be advancing at a rapid pace.
 The introduction of more cconomi- cal methods and the installation of better equipment have done much to- ward making the mining and rcduc ton of copper more profitable, SO much more so that an advance of I cent n pound means more from an earning basis than it did when higher prices ruled; that is, more is considered with the actual figures at which copper is selling now and was selling tnen. |. cannot he denied that Calumet & flee. Ia has made large sales at ii cents, and is not selling pound below that figure. The sales aggregated an en- tire months output and the copper will be delivered to the purchasers during December. The sales were made to both European and domestic interests.
 Europe has at this time about G per cent of q year actual supply on hand, or about a three weeks production. This stands ont strongly against the % per cent of the worlds supply when the Frencn copper corner was on in 1889. It is stated that consump- ton in this country today is equal to that of 1905. while throughout Flu rope it is ranging about 70 per. cent above what tt was last year. This all goes to prove that there is substance back of the red metal market, and it speaks well for the great industry that was so hard hit in the early days of the paaie.