Douglas daily dispatch., 1927-02-15
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showed a marked falling off in con-
sumption of copper by various indus
tries The same industries used to
compile the full year statistics took
1OS,225 tons in the fourth quarter as
against 119,20O tons of copper in the
third quarter
For three of the four quarters of
1926 the billings by the Westinghouse
Electric Manufacturing company ex-
ceeded the bookings of new orders.
During the first quarter the bookings
were the greatest by seven million
dollars. During the third quarter new
orders dropped badly, billings exceed
ing bookings by over eight millions.
The totals for 1926, however, showed
big Improvement in electrical construc-
ton. The bookings were $1S8,267,939,
as against $167,595,307 in 1925, and the
billings showed $191, ,751, ,142 in 1926 as
against $162,SO3,533 in the previous
year. The conditions regarding the
General Electric bookings and billings
were about the same in general way.
The Copper Exporters, Inc, have
dropped their price from 1850 to 1925,
but this does not represent the buying
price, as there is much buying reported
to be taking place at prices under the
market.
Most of the news from abroad indi-
Gates that Germany is about to expert
ence trade revival. 1t is known that
they have made a marketing combina-
ton which will throw them more ac-
lively into competition in the sales of
brass and copper products in countries
other than their own. The Germans
have been into the market heavily for
copper and have had the advantage
that they have been able to cover their
short requirements at very low figures.
! The spectators have showed an in
terest in zinc buying. Production is
being curtailed with view to
strengthening the market and it is ex-
pected that production will continue to
be curtailed during February in the
Missouri section.
The exports of galvanized products
from the United States showed con-
siderable drop during the last year in
spite of the fact that sheets and plates
increased from 179,501 tons to 100000
tons The drop in galvanized wire and
barbed wire, particularly the latter,
more than offset the gain made in
sheets and plates. The shipments of
galvanized welded pipes were about the
same in 1926 as in 1925.
The zinc situation in Europe, as re-
ported by A. J. M. Sharpe, foreign cor
respondent for the American Zinc in
stitute, is far from being favorable,
although the definite announcement OF
production curtailment will do much
to offset it. The increasing Canadian
output the expanding production in
Germany and Poland and the failure
of the German brass mills to progress
are given as the principal reasons.
E. N. Hickman, executive of the
sales department of the American Metal
Company, Ltd, New York, summarizes
the zinc outlook as follows: Between
the present market situation and that
of year ago, there are several points
of difference. The sentiment was gen
orally optimistic and in respect to the
amount of zinc consumed during the
year quite justified, considering the
price level reached before increased
production made itself felt. In other
words, in establishing in January, 1926,
the highest price reached SINCE the
peak of the postwar boom in January,
1920 The price of the metal had al
ready discounted the record breaking
consumption foreseen and overoptimis-
tically provided for during 1926. Today
sentiment is more conservative, ana
there is no widely felt incentive to in
crease production. Europe appears
quite able to manage without Ameri-
can zinc and is in fact believed by
some to be producing too much of her
own. Stocks here, WTi}e lowa ave
ample, and the price of zinc is one and
half cents below that of year ago
and within a quarter of cent of the
years low. Perhaps in the current
price the outlook is already discounted,
Just as it was year ago."