The sun., 1912-05-26
BUlL|SH OUTLOOK
N COPPER MARKET
l,port Indications That May
Clcaranccs Will Run Up to
10000. 900 Pounds or Over.
LARGE VISIBLE DECREASE
Total Foreign Visible 03.+l3,
900 Pounds and stocks
86,O06.OO0.

'rItratloNs ot exports for the month
t.to led 30 the belief that Clearances for
Ma vii ran lp To about 40 .ooo.U pounds.
1-,stuccrs' shipments may even exceed
,...s a.,i-es as there was several million
rounds held over into May at Baltimore.
fte l.rupean leader OF the rise in copper
rs,.' prices. Henry Il. Merton 4 60. Of
i,..,n. j. >tiil bullsh on the metal situa-
ton. a md icated by the following private
oahr-ram received here
"uur weekly report shows that during
,s- frst halt OF May visible supplies Of
.oprsr were depleted 1850 tons, which con-
.'l.utes a record figure for such a period.
resulting IN total reserves held III hands
nr the entire world OF S,,:Gp tons. year
ago stocks were ouhe this amount,
in view of tho unprecedented activity
~ the copper Industry in all countries,
tr's .itga'lon would be positively alarming
ueie We Tot assured that soon the long
Yr,utIs,u addition 10 the American output
~ll te forthcoming. 80 tar this increase
"a. trca di,appuiu'insly small, with ne
s.L- ui immediate relief Tho trade mus'
therefore, prepare itself for a temporary
scarcity 81 good quality copper."
Decrease IN Visible OF approXima tsiy
5000 oru rounds on she first half OF MAY
aAd he deere. =. in stocks oi Zoo. .ooO pounds
we're s.rvii~.Hgly good. as II had heer
cared that iuIei.u copper CONSUMERS
would draw in their horns in view c' III,
hich price or the metal here and abroad.
The total foreign visible Is now iO3 t+3. .:ot
rounds aut foreign stocks S6. no. .ooo pounds
.'tls assunled that American stocks have
.hpNu no decrease since May |. the world ,
'l~,ble stocks Of copper. not counting the
estimated sicchs At Rotterdam and Ham
,.r. are now net NOR. than l5l 900 Oo'
rounds or approximately one and hfth
months production by this country. taking
80. trril output a. the basis of calculation
The strong advance in copper metal prices
whi'h has bcep under way for some time
n7l,si durir : the past week ~ is'. cents ii
i,und This WAS The first time at which IT.,
.',l sold ~ the level since the middle o'
a.. bu. az that time. i, should be renlem
erred. ropper prices we're on the tohoggan n
'-oin the 2e cent high record figure for ths
rear
The huge buying orders which emanated
both from home suc foreign source, rolled
gp huge total approxlmatinS coo, 600 oot
hounds Heavy buying did not actually
ear. until tho day following the announce
men. OF the copper producers April state
r,ent For the ensuing ten Gays page afte
rage Of producers order books wac rapid,
n'led Export purchases were made throusl
september. while 70 domestic trade Angus
rCoEe were CpeIeu
About midweeh 4 llll came upon th
market. but this was only TO be expected
following the enormous Ouving movement
With this cessation OF purchases prices wer
ehaded by small dealers ard producer r
to 49,. cents Second hands sold coppe
down 10 49,. cents. The cheaper sales
however. wer. not regarded As =ignincsnc
o! weakness.
Labor troubles a. Baltimore. which at III
outset Affected dock laborers AZ The tmeri
oan smelling 4 RAsnins COMPANY rlsn
IN that CITY aud which were first told 10 III
copper trade by TIE Sun, spread 20 en,
cloyeea IN the ulant itself and this natural
retarded production from tina, quarter
N addition experts o. the metal from Baltl
more AGAIN became negligible cuanti'y
Last months copper producers staterlen
was affected as 20 exports hy reason OF ~
aa!,imcrs strike he current month
statement viii be Affected bNh as 10 ca
po-'e ana PRODUCTION
Ire Gursenheins havins sold about w
--on-hs ahead were necessarily forced I
cave the market a. 4 seller owing par'l
.? -ne uncertainty Of the Baltimore situs
'lcn
The following tahula-ion shows the move
oaent O. foreign statistics for tins ear ,
.-a,e and tor preceding three years