The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-09-05
AGAIN DULL
AFTER GOING HIGHER
Price Concessions Made by
Holders When Trading
Becomes Dull.
BEST. HOWIN IN LEAD

Concessions were again made in the
past week when trading In copper be-
came dull. There were. however. sales
by producers at rs cents, bu they were
small.
Spelter prices were lowered by Offer
ings down to 10 cents n pound for last
quarter delivery. This compared with
high sales a week ago at 1874 cents a
pound for prime Western grades.
Lead maintained more normal prices.
\ new buying movement started a
fortnight ago. but 1t proved "A hurry.
one of the producers said: IL believe
that ultimately copper prices will work
higher and that the former high point
Of 2OH to 20h cents may be passed,
yet cannot help calling attention to
the fact that much of the large copper
tonnage bought last tune in that never
to be forgotten scramble Is not yet de-
livered. This. to my mind, means that
the domestic buying Of copper cannot be
very heavy at this time unless the con-
sumers should be stampeded Into the idea
that prices will be rushed considerably
higher.
Manufactures. Well Cared For.
Some Of the consumers l know Will
not have to buy much, IL any. copper
for delivery before the enc OF the year.
The largest brass manufacturers are
quite well cared for as to 1915 require
ments. Just what Europe may do Ia OF
course an enigma, for 1t Is Impossible
to learn with exactness about stocks
across tho Atlantic"
The future OF copper after the war
promises to be exceptionally bright. ac-
cording to some of the producing fac
tors with close foreign connections. A
well posted seller said:
while many industries in the United
States will suffer by comparison from
their present record breaking business,
the future Of copper seems to me TO
be exceptionally bright. The principal
reason for this statement In that our
former best customer@Gs
then be In position to get copper through
to her borders and, l believe, that early
orders from that country will run up 10
between 100000 and 100000 tons.
There has been some buying Of copper
for German account during the past
year. particularly at the lowest prices
Of 1914. for delivery after the war,
but the total so purchased has not been
extraordinarily heavy.
In normal times Germany was the
best customer that the American pro-
ducers of copper had. and the absence
Of this buying during the past year
could be no better shown than in the
extremely heavy drop Of 10000 900
pounds in the amount OF metal exported
during the fiscal period ended June 80.
as compared with the preceding twelve
months"
Lead Exports Break Record.
There was exported from the United
States in the year ended June 30 last
a total Of 256,O0O.OOO pounds OF lead
This broke all records.
The domestic lead exported was val
ued at S7.s26.6o4. while the foreign
lead that passed through this country
had a value OF s1.954,s47.
Little II any lead was ever exported
from the United states until late ir
1914. Shipments OF lead in bond dur.
ing the preceding year totalled 1850
672 pounds. valued at Sl.459. 26i.
Five cents a pound was paid for lead
In tho New York market early in III,
week, although this price did not becom,
general. on the advanc In prices from
~ cents to 40 cents a pound, whici
the American Smelling and Refninl
Company named last week. there was Z
good volume of buying by domestic con
sumers.
The tonnage in the buying movemcn
Of the past week il estimated To hav,
ranged from 5000 to 30. 900 tons.
In addition to the home business Al
export inquiry has developed. Russi;
was lately In the market for a fair ton
rage and there was also demand from
Japan totalling $500 tons.