The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1913-12-18
PRESENT QUOTATIONS
LEAD, COPPER, ZINC.
OPINIONS DIFFER As TO CAUSE
OF Low PRICES AND HOW
LONG WILL CONTINUE.

The decline In the prices OF lead,
"copper" and zinc continues to be mat
ter OF anxiety to the Occur d'Alene
mine operators and to all dependent
upon these industries. The market
price of these metals Is now danger
ously near the line between profit and
loss when applied to some Of the mines
of this district. Men who give care
full thought to the varying quotations
are not wholly agreed as to the cause
Of the depression in the metal market.
Some confidently look forward to a
business revival throughout the coun-
try with the passage Of the currency
bill, and with It prices Of the metals
to be restored Others. however. and
they are the large majority. do not an
ticipate a change so quickly. They
regard the currency question as only
one Of the elements responsible for
the slowing up of business. The new
mimstration toward big business and
the railroads, It Is believed, are more
directly responsible for conditions than
the unsettled currency question, and
therefore the industries of the country
will experience only slight II any re-
lief by the passage of the bill. The
last issue Of the Engineering and Min
ing Journal has the following comment
on the copper and zinc situation,
which is at least interesting:
Copper Statistics.
1.-THE report Of the Copper PRODUCE
ers' association for November, show
ing an increase of about 10000 900
pounds In the stock, was about what
was expected. The production was
materially smaller than in the previ.
GUS month. but still was not very much
short Of what the smelters, as distinct
from the refiners, have been reporting
on the average. Foreign deliveries in
creased a little, but domestic deliver
les fell off largely.
"The domestic deliveries reflect the
filling of old contracts, and the falling
off in their aggregate shows how those
contracts are running out It has never
been at any time supposed that they
ran extensively into December, and at
this writing the sales books Of the
producers are believed to be pretty
nearly bare. If no large buying move
ment should develop between now and
the end of this month, the next report
OF the association might be expected
to show domestic deliveries very small
indeed. The great concern is as to
just how long their previous oyer-an-
ticipation of requirements is going to
carry the copper manufacturers along
The mere fact that manufacturers
nave been able to stay out of the mar
ket for so long implies the probability
OF some buying movement soon unless
the contraction in real consumption is
much greater than anybody now sup
poses.
The statistics of foreign deliveries
do not tell very much. There is sus-
H'"fon that some of the copper that
has been shipped abroad has gone on
consignment, |. e., that 1t has not been
sold for consumption. but has been
shipped by the producers to European
warehouses to be available subse.
quently when needed. The last statis-
teal report from Europe showed an
Increase in the stock over there How.
ever, none of our statistics include the
copper afloat between America and
Europe, nor do they indicate the in
visible supply into which copper sent
abroad on consignment sometimes
goes.
Tho Situation in spsiter.
"All of the metals have been weak,
owing to the slackening in the demand
for them, while In the case of copper,
certainly, and In the case Of lead prob
ably, production continues undimin-
ished Somewhat different conditions
prevail in spelter, which is rather more
sensitive to changes in the market
than are either copper or lead. The
recession in the brass and galvaniz-
ing industries has of course reduced
the consumption Of spelter. For some
time past, the largest buyers have
been conspicuous in the market by
their absence. In the meanwhile. tho
unsold stock in the hands Of shelters
has Increased materially. Several in
terests have apparently uncomfortable
accumulations.
Conditions are, however, being cor
rected in a natural and salutary way.
The price has come down to a point