The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-24
THE COPPER MARKET

Some further new business was done
yestcrday AZ /. cents a pound in electro
lyt!c copper Producers sharing in the
sales have been able 10 reduce somewhat
their accumulated holdings, but not TO the
extent thpy desire. However, the buying
by domestic manufacturers has been the
most encouraging factor OF tho market
Export demand was again noted, with
English representatives seeking further
quantities. Germany, 10y reason or indbil-
ity to got tine copper 70 home ports, mas
dlsapp,ar,I from tho market hut pro
ducers with GrrmAn connections Intimate
that the Mansfield mine has been worked
at full capac'ty IA an effort TO mako up
for the loss of metal usually imported.
Tho National conduit and Gable Com
pany. using - large amount 81 copper
annually. says IN It's current monthly trade
letter:
While the copper situation is undo
mainly ouict as regards large market
,noyemeuts, IL 4, crafty ing to note thAt
prIcc generalization received entcuNe
oulctus 10y tho timely acton :" curtain
rrodurtiou Extraordinary conditions pre-
vau af prcscut owing to tho dlsorSah4AA-
ton Of all foreign markets. as coI.se
ouerce Of the Unparalleled European war
now raging.
"Tne world demand for copper has sur,
fcrcd a suddsn slump since August L. "'u
many foreign outlets for the metal nave
a,tst decreased NEARLY 30 per cent com.
,orcd with those IN July. and international
reouirrncnt. are bound TO show large
,hrinlStce 40 long as war places On en-
forced embargo on shipments abroad
"Tho I'u.tcd states IS now tine lhrSes,
CONSUME, of cooper aud this country WIN
undoubtedly continue I'm that position Tor u
long time 10 come. Domestic manufac-
tuners at present, however. arc operating
hollow normal capacity, and no very pro-
uouuced increase IN demand Is cNpt''en
until there is less uncertainty regarding
the general business outlook. NJ the same
time there U.s. ~ steady delivery of cop
Der taking piace for home consumption
and local requirements arc In sufficient
volume to keep mills fairy busy.
"In order TO ueutrAlizc the effect of the
falling OF M export orders the producers
Of copper wisely adopted programme
Of ,urtlilulent Al leading mining dis
tricts OUTPUT has been reduced from -
per cent to % per cent, and this prompt
notion Will consc uuently prevent surplus
hupplics from reaching the dangerous d.
mansions they otherwise would. Mine
output e now on a safer and better basis
end In due time the Curtai'ment NJ rri'
mary sources VIII also show up I'm - much
more restricted refinery production. For-
o!gn producers have Joined IN tho move
ment to curtdil output. The pro- c3S OF
adjusting supplies to demand Is now
widely IL force, and the result wiz he
sppalept n a moro healthy ana sound
copper sl-uatou.
''The copper Industry ot the world has
grown to VAT proportions, and there IL
mos' vital aud sensitive relation be.
tween II ana the great manufacturing m
terests engaged IN wording over the raw
metal into numerous products. Manufac
TURING expansion AWAY means stimulated
rctivity at the mines. ana any great for
ward movement in business is favorabls
rejected in both producing and conEum
ilg circles. IN inflated market IL 4
handicap 20 manufacturing enterprise, an,
an ab0ormal!y depressed market also bar
satisfactory progress, Both OF these dep
recatcd evils often arise wncn supphe
are out Of proportion to demand, To
the foregoing rcasons tho TRADE shoul,
welcome Whatever tends 20 keep sunni.
snd demand ~ 4 normal basis"