The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-01-18
Car lot wheat arrivals az Northwestern
points were:
THE COPPER MARKET.

An encouraging recovery In copper
prices took place during the last week
under the stimulus Of an improved de-
inand for the metal and additional sales
Against cash transactions booked below
the fourteen cent level on Monday the
market recovered TO n Arm l4&M1ii,
cent level mt the close of the week. For
eign visible supply OF copper showed a
heavy drop during the fortnight which
ended January 10, according to cabled
statistics, the falling of being to "A great
extent "A distinct surprise to the large
producers here. Owing to- heavy exports
during the month To date they had antici-
pated an increase In stocks abroad rather
than the showing as revealed.
The foreign visible supply dropped I, sag
. tons in the first two weeks of the year
to 19.li2 tons. this figure representing
the English and French warehouse sup
plies and amounts aiioat to those coun-
tries. The Continental warehouse cities
reported a net Increase of 2iO tons in
supplies, although but one city. Hamburg,
reported "A gain. the amount being 3O2
, tons. The offset was n 80 ton decrease
reported 10y Bremen and unchanged stocks
at Rotterdasl
The new competition In the German
copper market inaugurated recently hv
/ the opening OF direct branch at Berlin
by the United Metals Selling Company
became an interesting factor as hereto
largely by the American smelling and
Refining Company. which opened an Of
flee there several years ago. The asking
prices of these two agencies in Berlin, ~
I privately reported from day to day 10y
cable. showed spread. with the Anal
ganated agent asking the higher price ~
a general thing. ON Thursday the quota
I ton Of the Amdlg1mated Copper was 1872
marks, while that of the American Smelt-
( ing aud Refining Company was l3l
marks. In general upward movement
on Friday both Of these interests raised
prices to 1874 marks.
! One ~ the most persistent bidders for
copper during the week was Henry X
Merton q Co. the biggest metal dealers
I in the world. They cabled daily bids
here 10 producers and succeeded in get
ting some copper, although their quota
tons were not always up TO the mark
set 10y the leading producing interests.
! II has been u good indication OF better
I times for the metal market when the
Mer;ons have been buvng copper here
openly. as this repeated occurrence has
proved. and the past weeks entrance OF
the firm was favorabiy regarded in the
/ trade
There was some talk OF "A renewal
Of labor troubles at the Rio Tntos
, property in Spain. but the strike
, situation at Lake superior did not de-
put at work at some of the properties.
but M new property started To- ship rock.
/ Indictment Of union officials at Iloughtun.
: Mich. late In the week on the general
charge " conspiracy was regarded as one
OF the final steps to be taken before the
strike itself could he actually called at
ar end
! Consumers In this country, So far az
can b" ascertainrd have not bought
very much copper Tor next months
u.s.. As result the chief demand
In the past Few DAYS has been for Feb
ruury copper. ~ the same time
There has been call for spot copper
and where available premium has been
/ commanded. March copper has been
I bought sparingly on this side. although
some OF tho producers early in the week
received bids for copper as far ahead
~ June from abroad. None Of the pro-
duccrs Will. however. contract for the
frst half OF the year at this time They
4 predict nj least Is cent copper before
/ the month ends hut at the same time
they would favor 1h2 cent market
could there he stability TO that price
Fluctuations, they point out I'm copper
metal do more 20 injure n, consump,.vc
demand than any other factor II is
NOT 50 much the price Itself as the ability
I" maintain an even keel IN this respect
that the consumers desire. Twenty cent
. copper could stability at that level be
assured would satisfy manufacturers
more than market tuctuHtlng between
u ana 10 cents. according to their own
statements. for they in turn could base
thcir prices On the raw metal quotations
ana not be forced To change their own
. price 'Chrdule daily as is now the casa
The only new copper production looked
Tor in the near future Is that to be sup
/ Piled by the Hidden Creek mine of the
Granny Consolidated Mining. Smelling
ana Power Company Before the end Of
La Ala.