Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1912-12-10
WALKER. SEES
COPPER FIRM
Saws Lake Is Now Selling for
1874 TO Is Cents, But
Decrease in Exports
Causes Concern
NO DECLINE EXPECTED

The following is an extract rom
Walkers Weekly Letter published in
the Boston Commercial:
Copper is quiet and firm Lake is
II 81 10 Is cents and electrolytic is
Il 0-S to IL "a cents a pound No
considerable amount of copper can ne
purchased for less than IL "a cents
Foreigners have been unsuccessfully
bidding 17-l-2 cents for a very large
tonnage OF copper in this country Tor
two weeks past. 1t has been rumor-
ed that some of the small brokers and
dealers were acting for large selling
agencies and producers when they Of
fered copper at II IL cents a few
weeks ago. These rumOrs have eaus-
ed many consumers to hesitate about
placing new orders and they are re-
sponsihle Tor the present attitude Of
foreign buyers.
The only unfavorable feature of
the metal market al present is found
in the decreased exports. These are
due in part TO the recent financial
panics in the various financial centers
Of Europe, inability 10 borrow readily
having caused consumers there 10
draw on the surplus supplies which
they accumulated when the price Of
the metal was much lower. Another
important factor is the very heavy
export movement OF other commodi-
ties, which has made il extremely
difficult 10 obtain shipping facilities
for copper, which, because OF its com
pact form and great weight, com
mands a lower freight rate than most
other materials exported. Rates on
copper have been advanced recently
and il is expected that this will cause
il TO receive more preference from
ship owners in the future.
In three out OF the past four months
there have been reported consider
able increases in the American sur
plus supplies OF copper; but in only
two out OF the past seven months
has there failed 10 be decrease in
the foreign visible supplies. The &
port movement Of this month has con.
tinUed light and il is not improbable
that a still further increase in the
American surplus may be reported
for November. In the near future,
however. there must be a strong re-
cul ence Of the heavy exports of cop
per which have characterized the mar
ket during the past three years. For
eign consumption is reported to be
showing no falling OF; but the re-
quirements are being taken care OF
temporarily from private stocks AMI
those in public warehouses.
During the month of October the
combined production Of Utah Copper
and Nevada Consolidated showed a
decrease of 14.00O,000 10 100000
rounds. This naturally will show us
refinery output in the Copper Pro
ducers' statement for December, Jan
uary and February. These companies
have not entirely recovered from the
effects of recent labor troubles and
their production is unlikely 10 be
back TO normal before January. II Is
probable that their production Will
suffer q total loss altogether OF 20
O00.00 to 30,000000 pounds.
Producers are endeavoring 10 sup
ply the current demand for copper
without further advance in price.
While copper sells around II "a cents
il is unlikely that the price will cause
any material curtailment of consump-
ton Much higher quotations natuT-
ally would encourage the use OF sub
stitutes wherever possible. Unless
there Is a severe business reaction,
either in this country or Europe. how
ever. IL is reasonably certain that
the growth Of consumption viii con-
tinue to increase more rapidly than
production and that eventually there