New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-24
Sl25,O0O,OOO Of
COPPER In ONE
WAR CONTRACT
The Largest Single Com
modify Order in History
Of Modern Industry.

what is believed 10 be the largest
single order ever placed for single
commodity in the history of the world
was officially announced yesterday.
This was a contract calling for deliv-
cry Of 44s,OOO,oOO pounds, or 100000
long tons, of copper to Great Britain,
France, Russia and Italy during the
first six months Of 1917 The sellers
are leading American producers repre-
scented by the United Metals Selling
Company and the American Smelling
and Refining Company.
The cost of the metal will be APP
proximately S125,O0O,OOO. The price
agreed upon was between PC and 27
cents q pound, which is little under
the open market quotations for 1917
copper. The contract has been under
negotiation since the early summer.
Men in the trade declared yesterday
that if it had been consummated few
months ago Great Britain, who is act
ing in the transaction for the Allies,
could have obtained the copper several
cents per pound cheaper.
The placing Of the order not only
spells further prosperity for the lead
ing copper companies of the country,
but also means that corresponding de-
mands will be made upon industries
such as steel, nickel and zinc, all Of
which are used in the manufacture of
shells.
The order will call for % per cent Of
the country's entire refining output
from January to July, 1917, and will
make copper metal much scarcer so far
as domestic needs are concerned. Dur
ing the six months period up to June
! Of this year the purchases Of Eng
land, France and Russia in this mar
ket totalled approximately 450.0OO000
pounds, according to figures compiled
by Dow, Jones & CO. In that period
two single orders one for 100000 600
pounds, the other for 100000 pounds
were placed
These figures indicate that the total
copper purchases Of the Allies in this
country since the first of the year have
aggregated 9OO,OOO.OOO pounds, involv-
ing an expenditure Of some S23O,O00,-
0OO
Some interesting facts on the copper
refining capacity Of the country are
PRESENTED in the current number Of
The Engineering and Mining Journal"
II says:
II 10 well known that the production NJ
crude copper has increased in 1915 to a
larger extent than has that Of refined cop
per. pointing out that the log in the lat
ter has been due 10 inability to increase
quickly the refining capacity which
throughout the year has been taxed 10 the
utmost. On January 4. 1915. according
IN this authority. the electrolytc rcfnera
Of the United States reported an aggrc-
gate capacity at the rate Of l,S1,,ooo.0oo
pOuidS on copper per aHuuuf CIT """"b
I56 ono, 600 pounds per month Adding
10000. 600 pounds per month for the cop
per that is refined otherwise and for what
Is marketed as pig, total capacity for the
production of refined copper WAS placed at
~. 100000 pounds per month. On Sep
TENDER f. 1916. the refne-s reported an
aggregate capacity Of 2.l13,ooo.00o pounds
per annum, and at that date there was
construction going ON at four rcdneries
which was figured as adding about 22o.-
GOO 900 pound year 10 the capacity Of
the United States.
Shares of the leading copper COM
panles listed on the stock Exchange,
buoyant of late on reports that rec
ord contract was pending, showed fur
Their advances yesterday. Utah and
Anaconda were the leaders in the rise,
with gains of 81 and 2ls points, re-
spectiyely. Both reached new high rec
ord prices