Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-05-07
Walkers Copper Letter.

Walkers Copper Letter in Saturdays
Boston Commercial will say: Copper is
dull and prices are sagginS slightly. Lake
is l27s to 10 cents and electrolytic is l2as 10
1855 cents per pound. The report of the
Copper Producers association for the
month of April, which will probably ap.
pear as usual next Tuesday, the 10th, IS
expected to show a considerable increase
in the surplus. Exports last month. l3.nl
tons, were smaller than those of any pre-,
ceding month since May 1907 The total
exports of the first four months this year,
however, were aS62 tons. comparing WIN
.233 tons in the corresponding perloa
last year Foreign advices state that
German and British copper consumptoh
are increasing. but indications are tnat
in France there will be slight decrease sSs
during the coming few months. me
general business reaction. which appears
to be under way in this country, propa'
bly, means slight decline in the Amer-
can consumption also. A.,
Unless something happens soon 10 sum,
nlate consumption the price of copper VIII
probably be marked down to u cents
The history of the trade shows coI,
clusively that whenever copper has peen
available at Il cents or lower inc s So,i
sumption has enormously increased, potn
in this country and abroad In only eisns
years out of the past 30 has the price %, or
copper failed to average over II cents -
pound, and the low prices occurred iv'
lowing the collapse of the Secretah s, ho
|
business panic extending from lS2 70 i'i ~
| The Amalgamated corner coliapseu ~
1901 with approximately as large SUI. ,at
plus of copper as there is at present i ys.
the average price in 1907 was ABOUT
cents and 13A cents in 1903. ,r
The trouble at present is that 9 .ho
plus of copper accumulated DURING ~,
1907 panic period. and since then pio ranId
ton has increased in little more rs XXI
ratio than consumption. Although ..i nr
country is using about as much c ceIIry
as at any previous time in its hlsl9saii,
consumption has not increased as fap' mo
as it would have had it not been LOT ~.
ambition of leading politicians 10 iee'
late the country's business. sor
Efforts to effect an agreement ~ ~
curtaiment of output by the iargssts ~ ~
ducerS We're begun last year. anu ,o rs
time some progress was made: Dut . N
Gently the negotiations were brought 10 10
an abrupt termination.l unders.anu 10 roe
Anaconda and the most of the othel ar ra
producers are now arranging 70 nnear
their monthly output. II Wo41nu app and
Phelps. Dodge & Co. are SUI. n ia in.
some what The large and TapiuaS and
creasing production of Utah S i,nnor.
Nevada Consolidated Is tne 'ii Thasa Two
companies. including Boston nunduned in
and Cumberland Ely, have pIoon ,raa.sr
the past three years by iaI W. Sdn,res
portion of the copper Which '''" "e
If tn the nrire of copper drops to u cents I,i
believe there will be heavy Iorelsn, orer
ing. and that consumption the :. "o ,.;m soon
viii so largely increase that Il WIN mt St the
market in much stronger statlsti 20,
p pa'p nnsshle that the average prize, h %
copper will be as high as u Genus asct i
year; but the expanding Dus.ne Continued
inc Increase e' in the worlds output Of ma gSat
and good crops, should make IS, an, ,.'1 from
for ali Of the copper that viii y c conts or
the mines in 1911 and 1917 at - TS te''' Copper
metal market is undergoing severe severe ,e1 or
which is likely to continue Tor ,"o
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