Bisbee daily review., 1910-05-08
WHY c. 8 /. HAS
CUT PRICE Of
COPPER TO IS


BosToN.-camr,e, & Hoclas GU
ia the rice OF ,oprec 10 Is cents
has been the overshadowing feature
of the metal situation during the
past week. The price reduction was
made solely for the purpose OF at
tracing business which could not be
secured at figures formerly prevail
ing.
The company had no large stock
OF copper on hand. despite the alb
surd statements Of an anonymous
producer who was quoted as saying
that Calumet was carrying $4,000. 000
pounds of unsold copper on the other
side OF the water Calumet always
carries a stock at various foreign
centers, amounting in the aggregate
to between 100000 and 3.O00.o0
pounds. but beyond this no surplus
whatever is carried abroad.
The company was carrying a small
surplus of unsold copper. amounting
to a few million pounds in this coun-
try. The cut in the price quickly
cleaned up all the company cared to
sell. and the price Immediately ad.
yanced to Is 10 cents. Today it
has on hand no stock of unsold metal
Il is interesting TO note in this
connection that the United Metal
Selling company IS quoting its
electrolytic brands in Paris at fifty
nine pounds fifteen shillines. the
equivalent OF about 1880 cents on
this side
The very unfavorable exhibit made
by the March statement OF the Cop
per Producers association was re-
sponsible for the price concessions
which were made last week by nearly
all the producing interests who have
sold any copper The consumers
have a very clear understanding OF
the present situation and the s'g-
nificance Of an increasing copper sur
plus They don't have 10 be told
that prices caano tcoutinue TO ad-
thar prices cannot continue adj
are producing more than the manu-
lecturers are melting
In a broad way il may be said
thar at the present time-and this
holds true for the period covering
he fifteen months from Jan I, 1909
10 April J.. 19OiO.-the world is pro
lucing between five per cent and
Ten percent more than il is putting
into consumption. The Undercon
is mainly attributed 10 the
relatively poor wire business. I'm
der normal conditions. anywhere
rom fifty per cent to sixty percent
Of the production of copper is manu-
iactured into wire bars" the shape
used exclusively by the makers OF
copper wire.
This situation is directly trace
able 10 the lack OF demand from
power tranmlssion companies. It isl
however. as deferred bus
mess, and some day these companies
will come into the market with a
rush Nevertheless, during the past
few months the wire bar demand has
been considerably below par. so that
today the wire industry Is consum-
ing less that forty-five percent OF
our output.
The much heralded restriction Of
output is a myth except for one or
two notable exceptions. Calumet &
Hecla ccntiues 10 limit refined cop
per output 10 100000 pounds
month against a normal output of
Z 000090 pounds. The mines OF the
Co. also low cost pro
ducers. are restricting to a greater
or less extent. but the other produ-
GERS who have been so loudly clamoT-
ing for a general curtaiiment by all
the producers. are apparently doing
nothing 10 alleviate the situation. but
on the other hand are producing to
the limit as only by so doing can
they make anything Ike fair show
ing CT cost
The DOrphyry producers seem quite
content With their position as low
cost operators. and are working their
mills and smelters 10 the utmost ca
pactity.
Some days things will be different
and the consumption OF copper will
the output. but today it can
not be denied that from the stand
point OF the producing interests the
situation is very unsatisfactory. It
is well to bear in mind. however. that
for period OF 50 years the average
price Of copper has been only ls|
cents per pound