The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-07-04
lead AND SPELTER
MOVING UPWARD
Copper Expected to Advance
After HOlidays-Scnti-
mpnt Better.
MERTON SYNDICATE ENDS

Lead and spclter improved during
nc past week and copper sentiment
~as better. Producers of copper how
aver did not look for actual improve
mon, In sales until after the holidays.
Load prices stiffened from a recent low
level Of by cents a pound to about
go cents, although the American
Smelling and Refining Company did not
raise It's price above ga cents, which
has been the company's quotation for
about three weeks.
spo, sales of spelter were effected
., II cents a pound. with later offer
ings on, cent "A pound higher. Futures
we're several cents a pound lower. Sales
calling for delivery through December
we're booked at 10 cents a pound.
The copper market Of London has
ceased to he a criterion for the copper
markNts Of the world. according to one
Of the very best posted men on inter-
national metal trade conditions. He
said that the British Government had
caused this change in conditions
through a strictly enforced order which
states thai copper once landed on the
british Isles cannot he exported with
ou, the consent of the British Govern
ment. This condition has not become
generally known outside of the copper
trade.
Against a normal capacity OF 500,-
200 tons of spelter per annum. the Yin
shelters of the country within the next
nine months will have increased their
facilities to such an extent that ca
pacity will run ahead OF $4,000 tons
The United States Stee, Corporation
will erect a plant capable OF turning
out 40, 900 tons of spelter a year.
The extraordinary demand for spelter
and the accompanying high prices have
combined to bring about this great in
crease. At the end OF 1914 there were
in this country 1854 retorts in ex-
%,s,ence, having a normal capacity OF
10000 tons annually. Conditions
never warranted the attainment of ca
paclty In actual operations until early
this year.
There were In the course Of con.
s,r1ction on January 1 last 1912 new
re,orts, adding As. 900 tons to capacity
With every zinc mine In the countr!
now shipping and with the influx OF
concentrates from Australia. the smelt
. ers have found II necessary to arrang'
for still greater capacity and plani
have been made for 10000 additions
retorts with $4,000 toni moro capacity
making q total of 10000 tons new ca
pacity to be fired up during 1915.
The English lead syndicate which 70
4 number OF year0 has been Ado 10 con
troll prices In Great Britain a. we'll a.
continental Europe, has been dissolved
according TO advice received by New
York metal houses from their Londol
correspondents. This will detract con
ederably from the position held IN IN
foresn lead market heretofore b.
Henry r. Merton 4 CO. which hrr
handled thu sales Of syndioate memberi
The syndicate controlled thS outpu
from Austrian mines, from the Minis
Of Spain and also the bonded lead who
Posed through the United States. tn
Netalieeseliechaft Of Germany an
Henry r. Merton q Co. Of London wer
the leading European metal INTEREST
while their representative in this cour
tn, the American Metal Company. va
also interested 90 far "a Its bonded lea
vas concerned. The Mexican lea
treated by the American 0mefefng an
Rsnnins company In bond In the Unite
states wNn also handled By the synd
cate.
Adv9oes dffSse - 20 what orousl
about tho dissolution Of b syndicat
ono cable stating that che AInsrica
Smelling and Refining Company ha
seeded, while another cable receive
by q large metal arm indicated that II
trouble wa due to ascension IN Loi
DON
Tho working agreement among men
bsrs Of the syndicate expired b. limit
\ ton on July I.