The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1923-06-28
Marketing Lead--New York and St. Louis
Most Important Base Points

Press.)
In the United States pig lead is
usually sold by the mining or smelt-
ing companies directly to the con-
sumer The smallest quantity sold is
a minimum car. Before the world
war the standard lot was considered
25 tons, and monthly sales were often
reported as so many cars of lead. As
the capacity of the standard box cor
increased there was an effort ON tie
part of some of the producers to in
crease the standard minimum, and IN
1918 many sales of 80 tons We're ef-
fected. When the United States en-
tered the war and transportation be-
came difficult. the government.
through the railroad board, endeavor-
ed to increase the loading of box cars.
With the cooperation of the lead pro-
ducers. shipments were increased to
a minimum of 33 tons. The benefits
of loading box cars 10 per cent above
the marked capacity were evident, and
the practice has been continued since
the war in the majority of shipments.
Single car sales of lead today are usu-
ally made in lots of 3S. 45 or SO to 5S
tons (20OO pounds)
In every large city in the United
States there are metal houses that
make a practice of retailing lead. This
is sometimes done by makers of lead
pipe and by secondary smelters, and
often by houses that carry a general
line of nOn-ferrous metals and whose
principal business is that of retailing
metals. These houses also care for
the local water companies carload
business and often sell to the cities and
towns. The practice of the smelling
companies of making prices for ac-
ceptance before 500 p. m. on the day
that the quotation is made prevents
them from submitting sealed bids to
cities and to contractors bidding on
water pipe lines.
Sales of wholesale lots of pig lead at
fixed prices are usually made by tele-
phone or telegraph on account of the |
changeable market. The general |
practice is to offer lead about 2 p. m. |
for wire acceptance on the same day, |
and when the market is active, offers |
are often made for acceptance with
in the hour. One seldom hears of Of
fers subject to prior sale" as such
an offer to an out of town buyer has
not much value.
In st. Louis, lead is sometimes Of
fered subject to no change in the Of
fetal price," referring to the price on
which the American Smelling & Re
filming company bases its ore pur-
chases and sales of refined lead.
Contracts or memoranda of sales
are written by the vendor, and usually
name the brand or grade, the position
or the month during which shipment
is to be made, and the terms and con-
clude with a force majeure" clause.
When lead is offered the position is
always mentioned, for instance spot"
lead already in city of de-
livery, prompt" for shipment within
three or four days, or January lead
for shipment from refinery
during the month of January. On a
falling market the position is usually
rigidiy enforced, and if January lead
is not shipped until February, the
vendee sometimes insists that it shall
be billed at the February and not the
January price. Delayed shipments
may force the vendee to buy spot"
cad at a premium to keep his factory
IN operation. The arrival of the lead
s always at the buyers risk; if the
metal leaves the refinery on time it is !
a good delivery.
In cases of loss in transit the VEN s
Tor usually allows the vendee the {
value of the missing metal and in {
urn collects from the transportation T
Retailers of lead usually {
make delivered prices and include the
rueking charge. I
Prices are quoted by the producers {
IN the basis of 100 pounds-iea 720 /
means 1920 per 100 pounds {
Pittsburgh On some occa- 7
,ions prices are quoted in fractions, J
Is rs, but usually $7S7k. The nor {
nal variation in price is 2hc, and one S
seldom hears of price of 1896; it is c
,735 or $7S7B. Z
The standard terms of payment are a
ash on arrival. This usually means @
Iraft attached to documents payable
IN arrival of car at destination. AS ,
natter of convenience, however every s
arge seller has a list of customers in t
rood standing to whom lead is con- {
igned direct. Even in these cases a
he lead is supposed to be paid for on C
trivial, and a buyer usually is remov- e
ID from the list if he fails to remit as v
Don as the car arrives. Arrival dates !
ire checked up through the railroads.
Routing is usually left to the ven y
lor with the exception of the deliv- n
ring line. Tracing is done by both 1
-endor and vendee. Shipping, rout- F
ng and tracing are services which k
he vendor has to offer. and he would a
ather in every case give the prefer Z