Arizona republican., 1917-03-04
6bo MINES of ARIZONA

[ of copper products which is bound to greatlr increse and which must exert large influence upon the cop | per metal. market during many
 months, and perhaps years after the end of the wal and the attendant de- | mand for metal with which to re establish fnn fighting efficiency on both land and sea. A 90 cent copper | bet under all of these conditions does { not seem as wlG as q prophecy of SC cent copper looked the first months of 1915
 The stock roof floors of copper i consuml0ers in this country are prac ] tically bare. Recently there have l been frequent reports of shipments ! of the metal over long distrnces hy l express to meet the urgent immediate needs of manufacturers. while from ; the northwest there have been ship i ments by express of matte and even : of crude ore to refineries selected by consumers under agreements for im ] mediate delivery of the refined prod i net. This condition is due in the i main. however. tC the congestion which prevails on the railroads and 1 which haS led. to freight emhargoes. 1 But with all Of the favor extended : by every present condition to the l expectations of those who believe i that copper will go much higher. the big producer is not made immediately 1 happy The bulk of the satisfaction ! at the time is the property of those
 who arc developing copper mines anC ! have reasonab blc ground for the be- ] lief that they will soon be Tn the producing game whether on large or small scale. To these the situation | is pfegnent with pig promise. They 1 will come in on a high metal market 1 faeq al ltar rt-hf. f.h parentlN excellent business judgment dictated the accordance of few | months ago at well under the present
 metal price.
 1 While copper has sold as high az
 37 cents for spot delivery of small
 arders in New York this week. and
 has been much sought upwards of 3a certs. the big producers are deliver irg on contracts made late in the fall
 at around - cents. When this figure
 was made it was commented upon as
 a wise move on the part of the large producers, both as to profit involved
 and, as preparedness measure 1 against runaWay market conditions.
 IL appears that world developments
 have walked away with the plans and specifications of beth of these fore
 casts. Arizona producers are re-
 ceiving around e7 cents the pound
 on their contracts. while the market quota tions are around 36 cents. r.
 IS on the average price realized upon copper sales through each month
 whether in small lots or large. that ! the miner looks to see his wages
 based and that the shareholders in
 copper producers anticipate that their
 dividend checks will be based. Most 1 of the large producers are booked uu
 to July on 27 cent contracts; some of [ t4Hz
 year Meantime all of their supplies continue to mount steadily in cost
 This Is startlingly true as to the
 chemicals necessary in refining and
 laboratory practice: also markedly true of fuel timters and steel Calu-
 met and Hecla has just disclosed another higher cost factor. its report
 showing that 3 cents the pound abovo
 normal is being paid for the trans
 portation of it's metal to the con- | tracted f. 0. b. French delivery port The C. H. contract was made follow
 ing the custom Of f 0. b. delivery.
 Since then the advance in shipping rates and marine insurance have add ed that additional cents. How many other producers with foreign con- tracts are in the same fix and there fore actually receiving for their cop per 24 gents instead of 27 cents. is not known.
 II While this n measure bear argument on the shares of producers and strong bull talk on the side of those who are hoping to have pro- ducers before long. a situation indeed that should Dut the money and steam behind development of near produc- CTS as never before. 1t is nevertheless to be remembered that even under the most disadvantageous of contract and costs circumstances now pre- valent to the misfortune of the large producers. the latter are still in posi- | ton to earn returns for their share holders that a few wears back would have been looked upon as very grati- flying and that justly higher market values than in most instances are now prevalent.