The copper era and Morenci leader., 1922-03-31
Concentrates
ARIZONA MINING JOURNAL) REVIEW OF THE COPPER SITIATION-

the copper situation, that March 15th would see a buying movement of cop per underway, has proven correct Sales of copper during March have been extremely satisfactory While figures are not yet available, March sales will undoubtedly be the largest monthly sales of the metal since November, when 195, 100000 pounds were sold. February sales totaled 100.O00.000 pounds and the average price received by the producers was 12.S6& cents. March sales will aver age better than thirteen cents in spite of the fact that some copper was sold early in the month at 12.5O
 Reports from the trade indicate re ceipts Of important orders by makers of brass goods and sheet products several middle western manufactur- CTS report 100%o capacity of operation, while eastern brass and wire works report much increased placing of orders by the ultimate consumers Taken as a whole, there seems to be somewhat the same improvement m the manufacturing end of the copper and brass industry as is being noted by the steel corporation.
 Thirteen of the 23 companies that stopped work, have resumed and six more start on April 1st. The refinery output of metal for the first six months Of 1922 should be between 55O,0O0.- GOO and GOO 0,000.000 while the sale. during that same period will reach 750,000, coo thus placing copper in ar excellent statistical position by July 1St
 Another favorable factor in the copper situation is that stocks of scrap copper are now at ar extremely low figure. During 1919 and 1920, plants in this country treating cop per and brass material recovered the enournlous total of 1,199, ,300,0 ,0GG pounds or about 50,000, 900 per month. However copper producers from now on will have no ocaSsion to feel con cerned over secondary copper pro- duction. as the Government stocks are practically liquidated.
 The foreign demand for copper picked up "arly in March During the first ten days of A!a ''-h. between 5000 0D9 and 6.000 900 daily were sold to European purchasers. Ger many. France England and Italy were principal buyers in the order named The fact that the Japanese mpanies cannot produce the metal for less than 15 cents is believed to be responsible for the pressure being brought to bear in Japan for a high import taN on copper.
 All factors point to substantial increase in the price of copper by the latter part of April and it is believed by some authorities that this increase will see copper close to F cents.
 Copper sales during March promise to exceed those of November which was the banner month of last year, with sales at 195, 100000 Foreign move ments Of copper have been active during the early part of the month and the expiration of price contracts for foreign copper the end of March will probably see an increase in both the foreign. and domestic prices. Tn fact, it is freely predicted that cop per will hit 15 cents by the end At April
 ,SUPERIOR-A meeting of tbe stockholders of the Magma Copper Company is being held March 2Sth for the purpose of increasing their 000,00 bond issue to build a mill
 
 build a smelter
 AJO-AsSeSsmen work on the Copper Ridge Mining Company .ad joining the New Cornelia showed ore containing IS to 2SeS copper with substantial values in gold and silver These results were taken from ca: lot shipments. Development work is planned.
 TOMBSTONE-Contracts have been awarded three Ieasers in the Tomb stone district to furnish from 300 to GOO tons of highly sihceous ore dur ing the next thirty days to the Calumet end Arizona Shelter at Douglas These shipments average % ounces silver.
 JERCME-Suit has been brought against officers of the. Calumet and Jerome Mine alleging the affairs oi the company are being grossly mis- conducted. < receiver is asked hy the stockholders making the complaint also cancellation Of stock.
 OATMAN-DiamOnd drill work is tc be started shortly at the AmaI~a- mated Mining Company property. Tn success 0f the Oatna1 Tinted in drilling has started diamond drill opera tiors in the district to be pro posed All present csIUipment has been overhauled.
 SILVER CITY Manganese ores have heen contracted for from Bos- ton Hill properties to supply the Colorado Fuel and Iron Company al their Pueblo plant Operations are planned tc- start within the neyt thirty days, F. A Perrault is ia charge.
 FURLEY-The first hopeful sig,. coming from the Chino Copper Com panv, is the placing of some men to wort at Hurley. This does not indicate im-n ediate resumption. however. as they are extracting ere from thu property for experimental purposes only
 PHOEYlX- Twenty three of the large copper mines Of the United States shut down last Auril Most Of these will have been started again by April 1st of this year except the M0renci Branch of the Phelps Dodge Corporation; leaving only the four .iSckiJEg properties to be heard from