The sun., 1916-01-24
BRITAIN CAN'T STOP.
COPPER'S ADVANCE
War Bureaus Effort to Check
Rise in Metals Proves
a Failure.

,bs c-orts made By the British Mu.
,,,or Department to check the advance
~ copper, lead and spelter have proved
s,,,-e' The limit placed upon prices
=, London, while governing trading on
,he English exchange. has been unavail-
,ns IN influencing prices at which Ameri-
can prcl,rers have been able to secure
soreisn. as well as domesto, business
Tho embargo on shipments Of metal into
x.w England has assisted rather than
checked tho advance in prices of spot
ccrs,er. lead and speiter. Tho ingenuity
a, the trade has developed ways and
means Of making deliveries In Maasachu-
se,,s and Connecticut although II has
necessarily added to the cost Of the
consumer.
Additional light thrown on the statis-
bcaI position OF copper has encouraged
holding interests and assisted the ad.
vance OF about I cent 4 pound on future
deliveries OF electrolytic. Tho exports
Of copper In December. based upon Gov
.rnn,en, returns through the custom
house. were 42,i26 tons. equivalent to
s5,0?I2io pounds. This foreign move-
men, WAS exceeded only in March, 1918.
when Government returns were l2,42S
tons There Is reason to believe. how
ever. that revised reports may show
that the December. 1915. exports wers
the largest in the history Of the in.
dustry.
Ths exports TO France In 1915 were
ie2.4&o tone. or 10 per cent greater than
49, III a. t. a. -
that Great Britain took only s0,ss5 tons
IN 1915. which Is nearly 1000 tons iess
than In 1914. Germany of course Is,
er was the largest importer Of Ameri-
can copper and In 1918 took 10000
tors These heavy shipments to Ger.
many. In the light Of recent events, indi-
cate Teutonic preparations for emergen.
clos. II Is also Significant that Russia
took only :o.+5S tons Of American copper
last year. Yet in 1914 the Cars coun-
try took only &25 tons Of the metal ex.
ported from United States
The total exports Of copper IN 1915
we're 276.344 tons. equivalent to 6ls,0lo,-
$50 pounds. This was "a decrease Of
2S3 per cent. compared with tho ex-
ports OF 1914. The heaviest yearly ex-
ports, however. were in 1913. when 3s2,-
Slo tons were shipped abroad.
The Geological Survey, as previously
noted. reported 1.s2o. 900, 900 pounds Of
copper available In 1915. Deducting ex-
ports OF 6l9.0oo.0oO pounds. there would
Ne available for domestic consumption
l:Oo,ooO.0o0 pounds. 1t Is understood,
however, that approximately $4,000, 900
ID mas n.xI.l
At the close Of the year. While spec
ulative syndicates are reported TO hold
approximately 100000. 900 pounds. part
OF this metal may have been already
disposed Of. At least 1000. 900 900
rounds. II Is believed. have gone into
domestic consumption. II is this heavy
melting which has proved the backbone
o' the Industry during a time when pro-
suction was never 80 great.
Last week prices Of copper advanced
~ leaps and bounds. Second hands.
after selling at 23is to ~ cents and later
a. FAX to ?4i. cents for prompt ship
ment, retired from the market Pro-
ducing interests, after securing moderate
orders from domestic consumers at "a
TO ?ii5 cents and from foreign interests
a, e4ia cents on Friday. advanced their
.sking prices to a5t. cents FOR April
and 20 cents for May. and some busi-
ness on this basis was reported. Con-
surers were at sea. at the close Of the
week, as far as nearby deliveries are
'oncerned. but the wild reports from Bos-
ION OF sales Of spot metal at rs to 80
cents per pound were not credited and
even ridiculed by large producers. Sales
~ March delivery were made at e&i. to
2S cents by hrst hands according to re-
ports received on Saturday.
A strong tone prevailed for tin
throughout the week. prices advancing
sharply on all positions both here and
broad. but there was very little bust
7"ss transacted In the local market
>not at the close OF the week was held
4, Na, cents TO 4l7s cents. as against
81 cents "A week ago. Future deliveries
idvanted from l., cent to q cent. tin
4Host being hold at as cents and May
and June arrivals at AZ. cents. The
advance at London was f5 los. on spot
straits. while standard advanced "a 5s.
on futures to 10 Js. on spot. The Singa-
pore market was maintained AT a pre-
mium over the English price until late In
the week A further rise is expected to-
day.
Sehned speiter was active, strong and
t'sher. Nearby deliveries sold at an
tIvsnce o' ! cent a. pound, spo, being
held at isa, cents TO i9 cents and Feb
runry AZ 1874 cents to 1871 cents at the
c'oee ~ the week. Future deliveries
aHr, also stronger. March selling at
l''s ,cn's to I77s cents. against lSls
cents 10 l6a- cents week ago. Sales
A" second quarters were made at 15a.
o'nts, after sales OF l4S cents early in
ne week The London market was UP
~ on spot and "a on futures.
Lad was heavy and weak. with second
h.nds pressing sales early In the week
'o.lowed by an active demand for foreign
shipment and al advance OF - ton by
me American Smelling and Refining
Company, From the lowest to the high
49, poit the advance was 50 "A ton. AZ
ne close spot was held AT 6.10 cents at
"" York and 6.o2i. cents at East st.
'ou!s London was up fc on spot and
~ l0e on future positions.