The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1915-07-15
LEAD, sPELTER, COPPER
As VIEWED IN new YORK
LONDON NO LONGER CENTER OF
COPPER MARkET-oUTLook
FOR LEAD SPELTER GOOD.

the past week and copper sentiment
was better. Producers of copper. how
ever, did not look for actual improve
ment in sales until after the holidays,
Lead prices stiffened from a recent
low level of 8 u cents a pound to
about $50 cents, although the Ameri-
can Smelling and Refining company
did not raise its price about ga
cents, which has been the company's
quotation for alb out three weeks, says
the New York Sun.
| Spot sales of spelter were effected
lat Fl cents pound, with later offer
ings one cent a pound higher Futures
We're several cents a pound lower.
Sales calling for delivery through De-
cember were booked at 10 cents a
pound.
London and the Copper Market.
The copper market of London has
ceased to be criterion for the cop
per markets of the world. according to
one of the very best posted men on in
ternational metal trade conditions He
said that the British government had
caused this change in conditions
through a strictly enforced order
which states that copper once landed
on the British Isles can not be export
ed without the consent of the British
government. This condition has not
become generally known outside of
the copper trade.
Against a normal capacity of $780,
600 tons of spelter per annum, the
zinc shelters of the country within
the next nine months will have in
creased their facilities to such an ex
tent that capacity will run ahead of
100000 tons. The United States Steel
corporation will erect a plant capable
of turning out 10000 tons of spelter a
year.
The extraordinary demand for spell
ter and the accompanying high prices
have combined to bring about this
great increase. At the end of 1914
there were in this country 1884 re-
torts in existence, having a normal
capacity of 100000 tons annually. Con-
ditions never warranted the attain
ment of capacity in actual operations
until early this year.
New Zinc Shelters.
There were in the course of con-
struction on January last 1912 new
retorts, adding $4,000 tons to capacity.
With every zinc mine In the country
now shipping and with the influx of
concentrates from Australia, the
smelters have found 1t necessary to
for still greater capacity. and
plans have been made for 10000 addi-
tional retorts with $4,000 tons more
capacity, making a total of 10000 tons
new capacity to be fired up during
1915.
The English lead syndicate, which
for number of years has been able
to control prices in Great Britain as
well as continental Europe, has been
dissolved, according to advice received
by New York metal houses from their
London correspondents. This will de-
tract considerably from the position
held in the foreign lead market here
tofore by Henry r. Merton & Co.
which firm handled the sales of syn
1icate members.
Controlled All But American Lead.
The syndicate controlled the output |
rom Austrian mines, from the mines
IF Spain and also the bonded lead !,
which passed through the United |
States. The Metallgesellschaft of |
Germany and Henry r. Merton & Co. |
If London were the leading European !
METAL interests, while their represen-
ative in this country, the American
Metal company, was also interested so
ar as its bonded lead was concerned
rhe Mexican lead treated by the Am
'rican Smelling and Refining COM
'any In bond in the United States was |,
.lso handled by the syndicate.
Advices differ as to what brought |.
bout the dissolution of the syndicate.
me cable stating that the American
smelling and Refining company had
eceded, while another cable received 4
" large metal firm indicated that (
he trouble was due to dissension in
4ondon.
The working agreement among the
nembers of the syndicate expired by
imitation on July 1.