Elk City mining news. (Elk City, Idaho) 1903-1913, 1912-04-11
Metal Prices Advance.

A revival or prosperous cOnulClOnS
throughout the country, and especially
in the mining industry, is Indicated by
the general advance of metal prices.
1t is impossible to place any other in
depreciation upon the conditions in the
trade. During the last week lake and
electrolytic copper have advanced to 16
cents pound the highest price since
the fall of 1907; lead has recovered
from it's recent decline and spelter has
sold at cents a pound. Silver, while
not so high as few weeks ago, con-
tinues to average well above the best
price of 1910 Taken together, these
facts give great deal of hope, not
only to the mining fraternity, but to
business interests in other lines. The
metals are an excellent barometer of
trade. In the iron and steel trade
better prices are ruling as the warm
season opens. 49,.
For several months past the worlds
stocks of copper have been steadily de-
clining as result of an increased de-
mand, both at home and abroad The
significance of this is strengthened by
the knowledge that the red metal pro-
duction of the world in 1911 showed an
increase which is generally estimated
at about 40,00O,O00 pounds 1t has
been apparently easy for the large
selling agencies in New York to mark
up the price of electrolytic copper,
which holds firm at Is cents. The
large copper interests of the United
States ard abroad are exercising an
unmist akable control over the market,
and in connection with this the infer
ence is held out that the price will not
be permitted to advance beyond nor
nal figure. The conditions are now
such that many producers hitherto
operating on extremely small margins
should be able to show profits and in
creased outputs may be expected.
Preparations for increased production
have been such that there is no doubt
of the ability Of the mines to take care
of a much better trade than has yet
developed. The restraint that has
been exercised during the last eigh-
teen months may now be recalled as a
source of confidence in the improved
prices and the enlarging output
Quite as satisfying to the business
man is the evidence of great strength
in the spelser market. Not in many
years has the metal sold as high as 7
cents pound. The recent advance
has been due to the depletion of visible
supplies in America and abroad, ac-
companied by the knowledge that the
production has not been as great as the
needs of the worlds industries have re-
quired. That the price has probably
reached its maximum and will probably
be held down in the future is an opinion
supported by the increasing smelter
capacity in Oklahoma and Illinois and
the better mine output in the west,
which has been stimulated by the
tariff.
1t is not easy to account for the fluc-
tuations in the price of lead, which is
under limited control. During the re-
cent decline in tie ''trust" price, as
cribed by some to desire to influence
the attitude of the west toward the
proposed tariff legislation and by other.
to desire to clear Up surplus stocks
of the metal, purchases of lead wer,
greatly stimulated, and the present lie
covery is not surprising.
Little change has been noted in III,
price of silver during the last month
but it is gratifying to note it continue
at the best levels recorded since 1908
Mining Science.