The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1909-09-29
Markets, MINING AND METALS
COPPER METAL SITUATION.
The National Conduit & Gable Co
says W

The National Conduit & Cable Co.
says: 81.
The features of the copper market
during the last 80 days were the
cautions and conservative attitude OF
manufacturers, an easier tendency
and fresh evidences of an adverse
statistical position. Although there
has been a good, healthy demand
from regular consumers of copper fol
several months, nevertheless, trade
opinion seemingly does not regard
the present market as a satisfactory
one.
Manufacturers have taken careful
observations Of the situation, and
they view with a good deal of con-
Germ II not apprehension, the present
from the copper r%efineries of the
country. The great load of produc-
ton which is being imposed upon the
market month after month has an
unsettling influence, and is n of
the most active factors in creating
depressing sentiment regarding cop
per. On account of the oversupply
any effort to stimulate the market
is short lived and disappointing, and
we have therefore to face the pros
pect of a prolonged period OF
suspense while demand struggles to
catch up with production.
The unchecked rate of production
is seen in the official figures for
August which exceeded all previous
records. During that month there
was produced from domestic and
foreign sources 120,597,234 pounds
of marketable copper, as compared
112,135,2OO pounds in January and
103, 700,817 pounds in February
Last months output from American
refineries is at the rate of 1,447,166,.
sos pounds per annum, or than
double the estimated United States
consumption. In the face of such an
enormous production is it surprising
that the market remains in its pres
ent puzzling condition?
Prices varied little during the last
half of August, and the first week In
September, excepting for some out
side holdings for prompt delivery
which were reported at 12% for ell
ectrolytic. The larger market quotes
10 @ 13A for e~lectrolytic wirebars
The larger market has had months
of fairly good home consumption II
it's favor, but all the trade improve
ment realized since the first of the
year has been unavailing in getting
the market back again to the Janu
airy basis. The publication of the
| Producers statement OF the 1Otf
| inst, showing an increase in do
nestle stocks of copper on September
1, amounting to 2,600,323 pounds
| gave sentiment a bad chill. TIT
| market has been called upon to bea'
the strain of a heavy copper accumu
lation for some time, and with tn
surplus holdings in both Europe ant
this country becoming larger Their
is nothing to look forward to but al
Indefinite prolongation of the un
| satisfactory conditions which hay'
| afflicted the market ever since pro
| duction has been rushed far beyon'
the ability of consumption to utilz'
| it. AS we said a month ago, con
| ditions from the manufacturers
| standpoint have improved steadily Q
late, and are nov or a very promis
ing basis. But while prepared to re
| iterate that statement, we canno
| close u eyes to the patent fact tina
| with copper output showing large
| totals than ever before the recover.
| of trade will have to be far greater
than at present to assimulate the yer!
! large production sent to market ever,
, month.