International., 1925-09-21

and Cattle" and the greaCeSL oA
these is Copper. The Great War
disturbed the equilibrium Of all
things from morals to philosophy,
from scientist to ploughman, and
disturbed the equilibrium OF all
kinds and descriptions. quite
naturally copper was attected.
However, the noble red metal is
corning back to normalcy surely,
which means much for the newly
launched Nogales enterprise, 1.-The
Eino Copper Company, and va
varions other concerns with min
eral holdings in the historic and
far famed suburb of the Ire Guy
the Patagonia Mining DlsfElcf.,
Read what the Arizona weekly
Copper Review says Of the sta
tistical position of Arizona's mosC
precious heritage:
tThe copper market has remain
ed ouiet for the last week, the
price quotation continuing at
IA 3-4 cents. Thls condlCloh =
considered natural as copper pro
ducers are we'll sold ahead Tor
Sentember and October deliveries
and the market is merely reflcctlng
the delivery price of the metal "A
cautious buying attitude is oelng
maintained abroad, but there IS no
tendency on the part of producers
to force the market because OF the
acknowledged low stocks.
"The usual dullness Of the sum-
mer has not been in evidence this
wear as business has held up well.
The Improvement in the price has
NAen due to this factor, together
With the curtailed production, con-
tinued high consumption for DOM
estic purposes and the large I'M
provement in foreign consump-
ton.
"Consumption of copper has
shown consistent increase since
the resumption of operations in
1921 with 537,197 tons during
that year; 788,829 tons during
1922. 1,163,885 cons during 1928,
1.3O0.332 tons during 1924, and
and 779,2O6 tons during the First
seven months of 1925. or rate OF
1,335,780 tons.
"Shipments have shown the same
consistent growth with 589,996
tons in 1921, 907, ,405 tons in 1922,
1.157,393 tons in 1928, 1919
784 tons in 1924 and 1852 tons
in the first seven months Of 1925,
or a rate Of 1,418,796 tons in the
wear. The excess shipments over
production has been uniform over
long periods, but the monthly fluc-
tuations have been the price up
setting feature.
'"The European condition shows
little change. At no time since the
war has there been any question
about the potential demand for
copper from the European coun-
tries for the electrical expansion
planned has been enormous and
promised to use very large guam
titles of the metal ard since that
program is getting under way a
continued demand may be expec-
ted from these countries.
During the first seven months
of this year the United Kingdom
imported 1920 tons of copper as
the monthly average against the
monthly average Of 1928 of 6848
tons and 10,162 tons for 1924.
An even greater increase is noted
in the imports for Germany, re-
ports covering the first six months
of 1925. They show a monthly
average of 2O,498 tons for this
year against 1926 for 1923 and
8059 for 1924. For France the
monthly average for the first six
months of this year is 9347 tons
against zoos for 1923 and II. .281
for 1924. Shipments to Italy are
practically the same as for last
year, but show a thousand-ton in
crease over 1923.
ga recent issue Of the Wall
Street Journal sums up the copper
market as follows:
Taken as a whole the situation
is the best that the copper indus
try has seen for several years, and
it seems not improbable that
toward the end of the year a high
Of Is 1-2 cents pound delivered
will be reached. Much, however,
depends upon how we'll producers
keep production down in the next
few months. Too early an in
crease in production will tend to
toko tho confidence ont of +bo b,,xy