Douglas daily dispatch., 1927-06-07
settled the market buyers to be wary

settled the market buyers to be wary
about stepping in fer quantity.
There has been an improvement in
Great Britain conditions with less un-
employment. The movement toward
super power zones in Great Britain
has progressed to the point where &C
ton can now be started and it is pro-
posed to eXpend something like $25,-
100000 on the. work, which will mean
the use of great deal of copper dur
ing the next 20 years. In just one OF
the zones already surveyed it is plan
ned to triple the electrical power now
available.
The lead situation offers but little
encouragement to the producer. The
sales have been good, but there is no
tendency upward at the present time.
Lead on the st. Louis market has va
ried from 612 to GIFTS, with most OF 1T
Iboug ht for immediate delivery, al
though some large purchases were
made for future shipments.
Zinc has continued on an even
tenor as to sales and prices, with
slight tendency upwards, but appar-
emily plenty available at the lower
price, 610. The higher price, $40,
has been paid for future delivery, and
| it rather looks as though the con-
sumers thought that the bottom had
been reached and the turn upwards
was soon to start.
The world production figures for
! copper, lead and zinc for the month OF
| April do not give much encouragement
for a better metal situation, for they
ale all too high as compared with Cot-
sumption isil
The daily rate of world production
of copper during April was 4,497 tons,
as against 4,433 tons in March, and this
! increase has not been due to any par
! ticular countries curtailing or increas-
ing, as some increased slightly and
some decreased slightly. The worst
offender was the United States, where
the daily production increased just
ABOUT the amount of the world increase.
The world production of lead during
April totaled 140986 tons, as against
144,411 tons in the 31-day month OF
| March. This is a daily production OF
4,677 tons during April and 1859 tons
| during March The United States con-
siderably increased it's daily production
during April, while there were de-
creases in Mexico, Canada, Spain and
other countries At the present low
| price of the metal the United States
mines can underseH Mexico on the Eu-
/ ropean market.
The world production of zinc was
much more favorable than the otner
metals, as it dropped from 123, ,468 tons
in March to 116,24O tons in April, or
3, ,983 tons daily in March and 1874 tons
daily in April. There was just a Slight
reduction all the way along the line in
the larger zinc producing countries, in
Guiding the United States, Canada,
Belgium and Australia, with small in
creases in France and Germany.
The dividends paid by mining COM
panies during the month of May were
higher than they have been in any of
| the corresponding quarters during the
past year, totaling $16,564,931. This is
a 100000 increase over Une correspond
ing quarterly month of February ST.
100000 increase over November, and
$1,50O,OO0 increase over August of last
year. In view of the fact that earn
ings have generally been a little less
due to lower average metal prices, the
dividend increases look as though the
mining companies figured that they