Douglas daily dispatch., 1926-12-14
COPPER QUIET,
THOUGH ITS USE
IS INCREASING

Extreme quietness marks the cop
per- lead, zinc and silver markets
with prices generally on the down.
ward trend" states the current issue
oil the Mining Journal, "although the
producers seem to feel that the bot
tom has been hit on copper and sill
Yer and that zinc and read are likely
to remain about as they are" Buying
IN all metals is quiet and is expected
to remain slow until after the holt
days, as it is the approach of inven-
tory time and this has generally been
accompanied by slow buying. Zinc
sales are running small with the
sellers ind.sposed to cut prices to
attract business, as they are we'll
sold out on their current production.
But little zinc is sold for January
delivery.
Silver is more steady, due to the
fact that India has been doing some
buying, but it does not help the sit
uation much to feel that there is any
increase in silver in India to be
turned back into the market if the
report of the royal commission is
accepted and the buying of India has
in no way decreased the uncertain
future. While the A. S. and r. have
maintained their contract price for
lead at 8 cents, there have been nu-
merous sales made below that level.
Lead is getting a reflection of the
slackn.ng of business operations, as
the slump in buying is coming from
manufacturers of plumbers supplies.
Lead has not gone ahead during
1926 as it did during the two pre-
vious years. Gains of about IL per
cent were recorded for each of the
years of 1928, 1924 and 1925, while
the gain for 1926 will be only about
per cent. with an average price for
the yea: less than it was last year
There has been a greater increase
in lead from Mexican mines than
from the United States mines, as Mex
leo produced 1857 tors during the
first ten months of 1925 and 1868
tons during the same period of 1925.
In the United States it jumped from
453,S76 tons in 1925 to 473,64O tons
this year. A drop in Mexico produc-
tion is expected. however, as several
mines have shut down ana a number
more a planning on stopping opera
tons due to the unsatisfactory silver
condition.
Foreign copper business has picked
up with buying in good volume fol-
lowing the cutting of the export
association price to 1895 C. i. I. Ham
burg and Havre, the former price
being 1925. The whole European sit
uation as it relates to the copper
industry is scheduled for an abrupt
change for the better, according to
foreign writers. They point out the
settlement of the British strike, the
relief of German credit shortage, the
passing of the British electricity bill,
the Swiss and Hungarian plans for
the development of electricity from
the River Danube and number of
ether big undertakings as the rea-
sons.
The announcement of general
price reduction on motors by the Gen
eral Electric company is another rea-
son for expecting that material costs
are not due to so up soon, although
the General Electric attribute theiI
ability to lower prices to lower costs
through quantity production and i'm
proved manufacturing methods. The
lower prices VIII undoubtedly stimu-
late the electrical industry.
The copper companies themselves
are worrying less over the low price
Of that metal than those on the out.
side, as they have so improved metal
lIdgical and mining practice that the
spread between the cost and the sell
ing price is increasing in their favor
This is evidenced by Increases in
dividends, extra dividends and re-
sumptions of dividends which have
tcen frequent announcements in the
past few months in spite of low
prices.
Consumption of copper in the
United States for 1926 will exceed
$4,000 tons, which is greater than
ever before in the history of the
industry, not excluding the war
years, according to the Copper and
Brass Research association G. A.
Sloane, secretary of the association,
states: 'In former years application
of copper in building was more or
less restricted to large buildings and
costly residences. but today it is