Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1910-06-12
AMALGAMATEDIS
OPTIMISTIC ON
COPPER MARKET
This Company Lays Great
Stress On the Fact Thai
There Has Been No Visible
Increase IN Worlds Supply.

tbA leo. A. " diktA-
Copper is quiet and firm Lake is
10 to - IA Gems and electrolytie 4
5-S TO Is cents per pound. Ia the
furry OF bdying. which occurred last
week approximately l00,0o0.0oe
pounds was taken. transactions being
made at all Of the prices mentioned
above The Amaleamated interests
have been holding elec-rolyie copper
al Is cents and refusing 10 make con
cessions 10 American consumers
though IL is quite reliably reported
that some has been sold by them in
Europe on the basis Of 70 rs cents.
Some OF the smaller producers sold
cleo. roiytic as low as u SIS cents
last mouth. and lake was sold at
Il IS cents. The Amalgamated PEG
PIE are talking bullish on the metal,
and putting great stress on the fact
that there has been no increase in
in the worlds visible supply in the
past six months. Other American pro
ducers appear TO b. pretty well sold
up 10 date, and some OF them hare
sold their June output There is sin
Considerable copper held by two or
three large European speculative in
terests; but practically all the small
holdings were liquidated a few weeks
ago at a loss
The fact that the worlds copper sur
plus has not increased in the past
six months is indeed cause for much
encouragement The so-called visible
supplies. meaning the copper carried
bv consumers II excess Of their imme-
diate needs. is believed to be a great
deal smaller now than il was in the
closing months of last year. If this
is true. consumption is actually ex-
ceeding production. When the dini-
Guilty OF floating bonds for new rail
road. railway and power construction,
together with the relatively poor de
msnd for electric wire are taken in
TO consideration. it is in a measure /
surprising that the worlds cOnsnmp Z
lion is able to absorb the greatly in |
creased output of the mines al the
present time. II view OF this 1t IS
plain that should The financial and po-
litical situations so change in the
near future as TO make possible large
bond notatious for new constructors
work. the increase in copper cousump-
ton. which would follow Immediately
would quickly absorb the existing
surplus and bring about sharp rally
iu motal prices.
II has recently been stated ia al
financial publication that the average
price OF copper for the las 90 years
has been only Is cents. ! am aware
that Calumet & Hecla officials have
stated that the average price received
Dr. that company TO. the period re
ferred % has been only 10 CT. 8. To
be- absolutely sure. however, have
compiled tee reports of the Quincy
Mining company from 1850 70 1909
Inclusive. period uf 30 years. This
compays yearly price for tha period
averaged about 1856 cents. but going
farther. = uud that iu the las 30 years
Quincy produced aud sold 5s5.G25.26S
rounds or copper FOR S54.5l3.390. an
average 81 1914 cents per pound
This vogid seem 90 make &c plain thar
the real average price of copper for
en- Years has been better thaI u cen
and hat fae metal o. now selling about
a cent q pound below the normal
price. As other commodities in gen
oral are nov selling at approximately
the highe.. prices Of recent years the
abnormal conditions existing In the
metal market are thus emphasized
Copper. Like steel. IS one Of the
netls 81 progress. Whe1 the world
Is going ahead industrially expanding
ana building for the future. The de
maud for copper BE- always very large
but lust now progress has been
checked by a political situation which
has shattered Investment confidence
and made the financing or new enter
prises aud the extension OF old ones
exceedingly difficult Copper con
sumption. therefore IS not Increasing
as A. normally should while produe-
lion is growing more rapidly than
O. has previously IN ten or twelve
years.
The copper situation Is so complex
"a present that IL is exceedingly dih-
icnlt 10 figure out to ones own salts
faction whether prices viii advance
decline. or remain about stationary
during the remaining months Of th'-
year III were asked to advise cor
sumers. however. ! would say Watch
The financial situation. As soon as
Won learn OF the successful sale OF
large isue of railroad bonds. buy
three months. six months OF a years
SUNNY Of copper Big bond sales VIII
he followed BY revival Of bushes
in az lines