Bisbee daily review., 1912-09-22
COPPER HOLDING FIRM AT TOP

In his Copper letter for the current week MT. Walker of the Boston Com mercial says
 Copper is holding firm at top prices. Practical all ot the sales for many weeks past, aggregating 10O,O0OOG0 pounds or more, have been booked at 17 3-4 cents. This is still the price and 1t is likely to be maintained dur ing the remainder of the year. Pro- ducers will not permit prices to ad- vance if they can prevent If pro- duCtive operations are not interrupted by labor troubles the demand can probably be supplied at around the current price for several months to come
 Labor troubles. by the way. which occurred in the Anne rican Smelling company's refinery several months ago. were reflected in the Copper Pro ducer's statement that appeared this week. The figures were the largest ever recorded. production, that is, refinery output, being over 20,GOO. .0OO pounds above the average of the pre- ceding months of this year. The un- refined bullion which accumulated dur ing the labor troubles referred 70 has since been in process and it made its appearance in the report for last month. The production item was pro bably larger as a result than it will be again in a year.
 Deliveries, domestic and foreign, showed such a tremendous increase that they more than offset this tempo raTy expansion Of production. and there was a decrease of 3579O47 pounds in the American surplus dur. ing August
 Actual mine and smelter produc. ton has been increased Co the extent of the growing output of Utah Cop per and the new copper from Ray Miami and Chino. A few of the old CT mines have been able to augment their production 10 some slight eZ. tent. but that of many others has de. clined 4 moderate tonnage Of cop per is being shipped from the Braden, in Chile, and some, but not a large amount, from the Bonanza mine in Alaska. A few small mines have re- sumed shipments of copper ores; but these. in the aggregate, do not con stitute an important factor.
 The labor scarcity in the various
 
 regulate itself in a perfectly natural way A great many common laborers from southern Europe are employed in all these districts and the assur. ance of continuous employment at good wages is causing them to invite their friends at home to come on and enjoy the prosperity They are al ready beginning to arrive. Eventual ly this will materially increase pro duction and 1t may serve to prevent a runaway market in the metal
 The price of copper is not sufficient. ly high to restrict consumption. On the other hand. it is tremendously en. couraging production. l called al. tention about a year ago to the fact that higher prices for the metal would lead producing mining companies to draw more heavily on their lower grade ores. and that the filling up Of mill and smelter capacity with such material would have a tendency to decrease the actual number of pounds Of copper produced This is one ol the most important factors that are now responsible for the failure of many of the older mines to equal or exceed last years production figures. Arrangements are struggling between two strong forces, the one urging them to increase their production and the other to mine and treat at a good profit now material which al last ears low metal prices vas practical ly valueless.