Douglas daily dispatch., 1927-10-25

ton, All of the copper surplus is not
available even at the present price
and it will not take very heavy buy
ing before all the 13 Ia cent copper
will be cleaned up.
The statistical position of the cop
per industry showed further improve
ments during the month of Septem-
ber. While not up to the high mark
of August, when exports reached 130,-
$40 tons, September exports of 126,261
tons were very satisfactory. In Sep
tember, 1926, exports totaled 1921
tons of copper.
The fact that stocks of copper on
| hand continue to be cut down indt-
Gates that producers are not willing
to increase output until better price
for the red metal obtains. Stocks of
copper at the end Of September were
only 86,493 tons against 1854 tons q
month earlier.
Notwithstanding the supply of cop
per at the end of September 1927
was 1886 tons greater than at the
close of September, 1896 it is inter
esting to note that production in the
four months ended September 80,
1927, was 1926 tons less than during
the same four months of 1925. In
the same period exports of copper
were 4528 tons greater than in the
same four months period Of 1926.
Reports from Europe relative to the
copper situation are decidedly better
with a greater confidence in the Cop
per Exporters, Inc, and some relief
| fr0,1o +1oa Fan1iVa0 that +I1ic O1oo MIA
ton is grouped together to rob them
Business in Great Britain and Ger
many is reported to be better par
ticularly insofar as it concerns the
manufacturing of metal goods.
Further decreases in stocks OF the
metal held abroad are reported for
the month of August situation
1 which is exerting a. favorable influ-
ence on foreign demand for the metal
British warehouse stocks of copper are
now estimated to he about 10000
tons. They have decreased during
the current year by more than 3D.
100000 pounds Likewise stocks of
copper at Havre were nearly 15,0OO,-
600 pounds lower at the end OF
/ August than at the close of Decem-
Der, 1926 Such Sizable declines as
the above are bound to have pro-
nounced beneficial effect on the price
situation, and the demand which
should result from these reductions
may go long way to offset reduced
American takings.
The statistical record of all the
metals for September shows copper
to be much better, lead to be i'm
! nh
1t is felt that zinc is now at its low
est level for which it can be sold, SO
no reduction is expected In spite OF
it's weakness. A better price Is ex-
pected shortly for copper and lead
should strengthen somewhat.
| American copper producers during
: the past year have made phenomenal
| strides in Stabilizing world markets
for this essential metal, according to
review by Frazier Jelke & Co.
Faced a year ago with prospects
of a decreasing demand for copper in
the United States, new markets were
discovered abroad which have en-
abled the industry this year to ex-
ceed the record output of 1926" the
review points out.
"The world output of copper has
increased approximately seven and a
half per cent, while consumption in
the United States has declined eight
per cent during the past eight months
1 Figures for the first eight months of
; 1927 show an output of 985,287 tons
of copper from North and South
America representing more than 80
per cent of world production. This
is an increase of four and one-half
per cent over the 1925 production for
the first eight months.
"a year ago exports represented S5
per cent of the combined American
shipments, but this year thus far
overseas shipments comprise AZ per
cent of the total from this hemi-
sphere. The actual increase in ex-
ports was nearly 25 per cent over
1926"