The sun., 1915-06-06
1O0,OOO,O0O POUNDS
OF COPPER SOUGHT
Consumers' Inquiries Send
Price Of Metal TO High
est Since 1907.
SPELTER LEADS MARKET

Consumers are seeking 100.0oo.oo0
pouras Of copper. according 10 the esu-
mate yesterday Of one Of the large pro-
6,,cera This includes all Of the known
inquiries. with this a. basis produce
srs felt justinsd in putting up their
prices durfne the past few daya
II was learned rust before the o,ore Of
business yesterday that the Ams'ga-
mated Copper Company had raised its
price from isN to isM cents q pound.
This 10 the highest pr,cs rscorded since
1901 and was ths frst subvtantial ad-
vance made IN copper pricss Ancs the
closing days Of April. whsn ths last pre-
vious buyine movement subsidized Al
that time the metal was advanced 30 ~
cents Other producers are expected TO
follow suit In the raising Of prfces TO-
morrow morning.
II was freely predictsd that the Lon
DON cables Tomorrow morning would
bring sdvices Of big advances in copper
prices IN mat market. Tho last known
quotation Of American producers In Lon
don was fs1. named Friday.
demand there has been q great volume
Of business done during the past week.
Well posted mon estimate that sales
were a. least $4,000, 900 pounds. Buying
wls for srpoTt and for homo account
sDsl<sr higher Than OoIDer.
ooypsr dso not hold the centre Of sfs
metal market stAge, howevef. for the
advance IN 6oth speiter and lead prices
continued. A. It's top Of $50 cents New
York. had has advanced . fun cent
a pound IN q week 10 the highest figure
since 1907. 6pslter at 30 cents for
Juno delivery reached tho highest price
II sver touched. AZ current price levels
spelter u also above copper for the FIRST
time ever known.
The following qu0tassons ~ forth
briefly the strength Of me prime West
sfn sps,ter market June delivery. 20
osnts; July. ~ cents: August. 20 oents.
These are ~ subjeot TO quick change,
however. BNss specials nom!nally may
b reGArded at from 81 to - cents q
pound
Tho big demand IN speitsr has now
swung more largely into prime Western
rades II had been chiefly in brass
speciale The almost prohibitivs prices
have made tho ordinary grades moro
desirable at me moment
BuySrs for Duroptan Governments
have been receiving the blame for tfe
present condition Of the spelter market
BY some Of the largo smeiter operators.
Illustrating his point. one Of the most
active seilsrs said: These men repre-
sentins foreign Governments a. buyers
Of spelter have no conception Of values
or OF market conditiona They come
to us with statements a. TO how much
they want A price u named and. re-
gardless of how far above previous
sales. the buyer says: All right
Tho domestic users OF spelter win b
the real sufferers. They must MI theiI
requirements on orders which they may
have booked when spelter was mucf
lower. and II they have not made ar
rangements for their raw supplies thsy
must pay the price and stand to undergI
. severe loss"
A serious shortage has developed 1,
spelser. which may be attributed TO th'
extremely high prices now prevailing
According 10 figures prepared yesterday
this shortage now amounts TO about 400,
600 tons, II extended over a full year.
The shutting of Of shipments OF Au.
trailian ores 70 German and Belgial
smelters was the principal cause Of IN,
great decline In production. aGains
which condition the unprecedented de
mand for spelter for war purposes ha
made the strain all the more severel,
felt In manufacturing circles
The following figures give the stor,
a. q glance Chased on 1918 operations
which were more nearly normal an,
which also included a large carry-ove
from the preceding year,:
,sc. ,sc.