The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-11-15
HAYDEN, STONE & CO.'S
GOSSIP OF The C0PPERS
OPTIMISTIC VIEW is TAKEN OF
CONDITIONS BY BROKERS.

The report Of the Copper Producer
Association, published early in tn
week, cannot be construed otherwis
than most favorable.
Production for October is placed q
126,4G9264 pounds, figures only eN
ccoded twice, June and Aug, since tn
organization OF the Copper Producer
Association was perfected. 1t goe
without saying. therefore, that thi
rate Of production is considerable.
above the average monthly figures
also that the restriction of mining op
erations caused no shrinkage what
ever in the October refinery returns.
The curtailment of ore shipment
commenced at some OF the mines Aug
ust /. and before the month eXpire'
the move in this direction became
quite general throughout the various
mining districts Allowing ninety
DAYS for turning out "a finished pro-
duct. IL will be seen that the August
copper output should undergo the
process Of refining during the current
month.
From the above Il will be seen that
the statement OF the copper producers
as OF December ] will show a greatly
reduced production, in all probability
$4,000. 900 pounds less than for October
With the exception Of those foI
January and April, the domestic de-
Iivcries were the largest for the year
while the export shipments were eX-
ceeded only in January; and Septem-
Der.
The available supplies of marketable
copper IN this country as Of Noyem-
Der are placed at 139,261.914 pounds
The foreign surplus on this date was
reported at 193.6S1.GOO making the
worlds surplus 332.94S.514 pounds.
on October the worlds surplus
corner was reported at 959,266. 1854
pounds, showing a total decrease In
the worlds supplies for the month fol-
lowing Of 26,322,S4O pounds. equal to
about 1000. 600 pounds for each work.
ing day The next three months, at
creased production, while, on the other
bend. the recent enormous sales Of
copper furnish assurance Of n contin-
uance for this period Of such volume
of deliveries as will make heavy in
roads into the worlds surplus. the
proportions Of which, due in part TO
the more favorable general business
cut look, are no longer causing any
unrest.
October Production.
We are advised that one Of the lead
ing copper refneries had been behind
i'm it's work for some little time. and
that this was caught up in October.
for which month an unusually heavy
output was reported. The unexpected
increase in the October production, as
shown by the figures Of tho Producers
Association. is thus accounted Tor
The condition above referred 20 ac-
counts. In n measure for the extreme
" light production for July and sept
embcr, that for the latter month being
over 100000 pounds less than for
August.
The Unexpectedly large showing Of
production for October has caused a
widespread erroneous impression, par
tlcularly abroad. that there has been
no recent interruption 10 a maximum
scale Of mining operations. We are
also advised that the refinery figures
Of production for November will quite
accurately reflect the volume Of cop
per received at these plants for the
period, In the event Of which a heavy
decrease IS positively assured.
Old Dominion.
We have IL on the best of authority
that the developments IN the United
Globe end Of the mine are giving ex-
cellent results. At one point on the
14th level, an ore body 80 feet wide
and running high In copper values had
been developed.
It is the expectation of the local
management that the body Of ore
nearly, If not quite, the equal Of that
developed In the Old Dominion mine
proper will be opened up in United
Globe ground.
This is a matter Of great importance
from the shareholders standpoint. for
what the old Dominion would seem to
need rs a larger volume OF production.
In the ten months ended October
3lst. the smeltcr output was 22.937.-
900 pounds. as against 3O.OOO.O00 in
1909; 81 GS8OOO i'm 1908, and 29.32S 900
in 1907
The new management has eliminat-
ed the Improbable smelling contracts
and done away with the treatment OF
the Stag. so that the company's falling
off In production Is more seeming than
real; in fact. the decided reduction In
costs effected by the new management
makes IL probable that the company
will earn more this year. on q smeltcr
production Of about $4,000 900 pounds,
than IL earned in previous years, with
an output Of 100000 to 10000. 900
pounds larger.
However. even II the company has
succeeded in lowering it's cost to 10
cents a pound. which is most cred
table performance. on account Of this
volume it's earnings on 13-cent met
al market would still be less than So
n share.