Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-03-07
Especial Star, Bulletin cOrrespondence)


are said to vary from 100000, 900 Il
coo. 900, coo pounds. says Copper, Curl
and Mining Outlook. This copper /.
to fill the requirements of the English
government and the Allies, including
France, Russia and Italy, for the las
half of this year. The first half year!
| requirements are already filled, as
was told at the time the last big bust
ness was done in the closing months
OF 1916. That amount was $4,000. 0O0
pounds of copper for which the Allies
! paid about % cents q pound. 1t was
the largest individual block Of copper
ever figuring in one transaction, but
IL the contemplated purchase actually
results in business; as there is every
reason to believe win happen, 1t will
far outshine all that has gone before
Takes Years Output H.. g.
The main thing to remember in this
connection Is, however, that such a
big sale of copper by American produc
ers would place them in position oil
having done in comparatively short
time enough business to call for their
full output for the entire year 1917
This, of course, is taking into consid.
| Grafton the rush to buy on the part OF
| American manufacturers just as soon
as they get wind OF the closing of such
gigantic deal. The domestic buying
that would come along with any such
big export buying movement would
simply stagger the producing element
In the copper trade. "
There has been a good comeback to
copper prices from the low levels Of a
fortnight ago. This was stimulated
largely by the knowledge of the big
business pending from abroad. There
was some business done on the sliding
scale when manufacturers and small
producers were anxious sellers, down
to about ,26 cents a pound. Now the
market is back again, still on small
volume of business, to around 20 cents
pound. - s,-..,... ........
Big Profits Realized 49,. .....,,
There is no question but that the
English government is to pay the price
asked by the American producers. The
worlds copper requirements are COM
ing from mines under control of Amer
lean capital. There is no competition
to speak of from without and the re-
suit Is that the Yankee mine owners
and their stockholders are reaping the
benefits as shown ft dividends which
are constantly coming to light. The
day Is past when the English buyer or
the buyers from elsewhere In Europe
can force prices down under specula.
tive tactics and theH come in and pay
his own price for American copper.
That day is gone, and, II indications
count for anything, gone for good.
The American producers are, with the
aid of the Webb bill now before Con-
gress, to be able TO combine in their
efforts to sell their products in for
eign lands. They may be able to main
tain prices on export business and
thereby combat the buying cartels for
Germany latter the war) and such 9TH
er combinations which were formed
for getting the best of the American
mine owners and which succeeded
well for number OF years.
Hard to Meet Deliveries
The American mills are all working
at full tilt on copper. They are using
more metal than ever before. The
producers are hard put to 1t to meet
all deliveries. The plant CT one refin-
ing company in New Jersey has been
c-osed down by strike and with
/ 100000 pounds of copper daily there
by withdrawn from production the sit
uation is still further embarrassed.
Labor is at work among refineries as
well as among the mines and the high
prices at which copper has been sell
ing for the past year are the natural
targets for the labos agitators.
Not for month at least, 1t Is said,
is il expected that the negotiations,
started early in December in behalf
of the British government for copper
OF England and her Al !
lies, covering the last half of the year,
will have resolved into actual business.
The feelers which have been put out
In this country I'M behalf of the for- /
eigners indicate that half billion
pounds will be needed to meet the re- :
quirements of England, France, Rus
STA and Italy through the end OF 1917. !
The last big purchase will care for !
demands up to the first of July. Cop i
per men conversant with the situation
state that as soon as the prospective !
British loan has been arranged it will !,
be followed not only by the purchase
Of large tonnages of copper, but by :,
some big steel orders as well. Copper i
producers have only to figure on MIR
keting their probable output for the
last six months of the year as they
we're long ago sold out foF the first
six months Of 1917. Some sales have
been made through next December
but these have been the exception
rather than the rule. A glance at the
sales sheet of one producer shows
to the year end at 35 cents
/ pound. Regardless of whether fu-
.ure orders for munitions come to the
United States or Canada the world de- !,
lends upon this country for its copper
requirements 49,
Tendency Is To Hold
II is stated that only very limited
OTIS of first quarter metal can be pur-
biased with the tendency among the
sellers to hold on to what they have,
wing to the advancing prices and the
act that the demand is in excess OF
he, supply. With regard to second
quarter copper the dealers say that
while the demand is not extraordi-
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