The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1915-06-26
ADVANCES IN
LEAD PRICES

Interest mas hdtuIdly btch dAVoSSe
in mining circles by the recent marked
advance in the price of lead, which has
jumped from a quoted price of about 4
cents to 8 cents within a short time.
Particularly within the past three
weeks has this advance been most cod
spicuous and the rise has been attribu-
ted to a number of causes. The SUB
iect is discussed editorially by the En-
cheering and Mining Journal as fol
lows: fl
During the last fortnight lead, ordi-
narily the most quiet of the major
metals, has experienced an advance in
price nothing less than spectacular.
Wall Street early had the tip that it
was going promptly to 6 cents, and
SPECTATORS had visions of a repetition
of the performances in spelter. Recent
events have taught that anything is
possible in the metal markets during
this time of war. With regard to the
situation in lead and the conditions
tfat started the advance, certain things
stand out as facts, but other things are
shrouded in mystery.
The lead market has been strong for
a considerable time, while the leading
interest was maintaining its price at
40 cents, as was shown by a higher
price being realized by independent pro
dueers, buyers being willing to pay
what they asked. The Missouri produo-
cls had increased their output to the
rate of a year ago, or nearly thereto.
Ga the other hand the producers of the
Occur d'Alene and of Utah and Colo
RADIO had failed to increase their pro-
duction to the former rate.
A reason advanced for the first adj
vance lin price from the lovel of 4.20
cents, was the desire to stimulate the
PRODUCTION of the mines, an increased
demand for lead in the second half OF
1915 being foreseen. In order to do
that, however, no such advance as /
cent per pound within ten days was
necessary. The advance of a mere frae-
ton thereof would have done all the
stimulating that would have been desir-
able. Upon the advance a large volume
of business was done. The increases
that were made from day TO day were
III conformity with the ord srs received.
The buying orders were to 2 eonsid-
- H1o okrrk -. -
or ammunition, and to a considerable
extent were ostensibly orders for ex-
port. In some of the lattc- buying,
however, it was thought that there
could be detected the hand of a specu-
lative pool that was contemplating the
same kind of an operation which was
SO successfully conducted IN the early
days Of the advance in copper.
The probability is that the advance
was started by the buying for ammu-
milton land that some speculative in
terests interviewed, producing a COM
petition that enabled sellers to make
their own terms. A matter of much
Anlcicob III LHlS COuHeCLlOu Is the guam |
tity of accumulated stocks in the hands
of the lead producers. This is ever u
subject of mystery. For a long series
OF years the position of lead stocks has
been nothing but surmise and guess in
SO far as the public is concerned and
indeed the Independent producers them
selves. At the present time there is no
doubt some unsold stock of lead on
hand. Certain persons of good informa-
tion believe it to be rather small. The
extremes of the two views might be
represented by the figures of $4,000 60
$1,000 TONS. We have no idea whether
either of those figures is anything near
the truth. We are inclined to believe,
however, that the lead stock is not
very large.