The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1914-05-23

quarter, 1919 ------------------- 39Ibb3Iq- 3,9eS3263
The production OF Lake copper in April increased by about 1000
600 b. and now probably will continue to increase until the normal Of
about 100000 ID. pr month is attained.
During 1913 the refners' production outran the srnelters. which
was exPlainable By the working UP OF an accumulation OF blister cop
-er that was strongly surnised TO exist al the beginning OF 1918 By
the end OF that year. however. the smelers and refners we're supposed
TO have come about into step. which the statistics Tor the first quarter
OF 1914 seem TO indicate. However. what we call the smelters' statistics
are not just that in all respects. some OF the copper. including the Utah,
Chino and Ray. being reported on the basis OF ore. with an allowance
Tor smelling and that ore may not always go through the smelteries at
the same monthly rate as reported. The large increases in the produc-
tons OF March and April, therefore. were probably due in the main to
me working up OF some accumulated intermediate products, and the
large totals for those months were most likely accidental rather than
the porent OF such figures a the regular thing. anyway, il is certain
that the mile figures have not been increasing materially turing the
last six months. We may. therefore, see a relapse in the refinery pro-
duc:on in May or June.
The deliveries OF copper &c Europe continued large in April. al
though the total was less than in March The maintenance OF these
large figures shows that Europe is needing a great deal OF copper and
that its demand is a bulwark OF the market. The talk that was current
some weeks ago about copper being shipped TO Europe on consignment.
and going into invisible supply, was mostly moonsnine. Nobody has
Il able TO produce any evidence OF that sort On the contrary, the
moreover, reports from the copper manufacturers in Europe indicate an
advancing tendency OF their business
The great puzzle is with respect to the domestic consumption Of
copper. The average OF domestic deliveries in 1911 was 59I3+3 800 ID.
per month; in 1912, it was 6S.3o54g6 ID. per month; in 1913, it was
6393S-4So ID. per month. During the first quarter OF 1914, il was 81.
2o5yS9S per month. In 1913 the industrial depression was distinctly re-
Elected especially in the last quarter. During the first quarter OF 1914
the taking OF copper was al only s. per cent OF the rate in 1912: if con
sumption had experienced the normal rate OF increase. the deliveries at
the present time would have been al the rate OF 3 or 50 million pounds
per month. Thus slow has business been during the early part OF 1914
In spite OF this unsatisfactory state OF affairs stocks have been de-
Although Europe and America combined showed an increase
OF about 100000 ID, in April, the total on May was 100000 ID
than on Ian. l. It is probable that there will be no material in
crease in production in the next six months. An average OF about 40
million pounds per month by the american rehners is 10 be expected.
Europe seems TO be requiring about 50 million pounds per month. Let
American demand rise 70 the norma. a sooner or later It must. and We
shall see some snap TO the market. We have learned from past ex-
peuences that sudden changes OF form may happen. {. G. in the fall Of
1911. The statistical position is certainly much stronger now. Carefully
the April returns do not seem TO have weakened il.