Show I ENGLAND VAS WAS fOOLED 1 BY ANtE IN COPPER I t ii New York Yoek Yok Sun ri The Te signs multiply that the contest V waged waed wa so 8 a long lo and an bitterly between the manufacturers of refined cop copper per pr and an the tho th American producers there thereof of or is closing The struggle has h not been to that over ove raw rw cotton coton al rpt nary y fully explained in the Sun Sun and thiS fact tart that th two tw such auch battles have been has h afforded no n small smal cor cr of 0 the te opinion held by many man competent observers that the t lm failures in sagacity shown by En Eng g ih and ad manufacturers I n rii rt the fhe question whether ther or no the prosperity of their thir country h u passed I a its zenith The British qua I I itin lit 11 of o conservatism m and an obstinacy l F rn m to have tiac made it I impossible for forth J th the e merchants to adapt themselves t to the o conditions md it ions of modern mer competitive enterprise and an to t have left lef them in th til ran rac behind the persistent and stu df thus dirus us herman German Inan and the inventive and American A in m the case c of cotton coton there was wa a aa a sd ai t of copper due however not as asin asil in il o i ot u ton m to reduced production but to f gr u 1 t ly Iy enlarged consumption English declared delare that the rise lv lt 1 th ih value of copper as a in the case t I tt n was wa wa not due du to normal and andI I Ir i i caus auses but to speculation and to in manipulation aJ 81 a 1 corners N th have hae had nad h to confess confes them ss mistaken and a to accept the nat L tr tr i punishment r hrent of their thir error Th iii i h i r F sti 0 in m the copper market has hasp 3 p g j F d with wih various fluctuations f t HC 1 1893 Up to that time for forn n m earM yr production had ha greatly gety out ot outrun run ruY rn c on and a a large lug quantity 0 of th tb nutal stored sor in reserve rere exercised a I depressing in influence upon L 1 I 0 U t the period pro named name the uee ue J t c 1 i r as as the base bs of the modern in inci ci d i 1 l development of electrical heat h t tI I i vr wr w r began to dawn dan upon the te 1 i nL t and an manufacturing world The TheL L mast a of o reserve rne supplies supple of copper coppex i Iy while hUe hIie the th price pric of ol ofle oft olL t L I t le I 1 slowly but bt steadily rose All Al I interests were wee skeptical I IS t S it itc itU h 1 advance at t but in the theof th c of f two to or 01 three th years people V kM h 1 at it the matter with their U w UI O and 8 d not with it their thir d amp convinced of two great greal get fa fai First that the new ne use us of cop p pr as 5 not of o an experimental and ad un unO i en i it iM ir nature but meant vast 1 met a vat perU per pr maint nt increase lore in the consumption of ol the article lie and azid ad secondly that the th t F FU u ts s of nt f copper copp r were we comparatively H d i I limited limie A rat ra t development of the te copper opper r in began o in the te United I at t 4 it i soon toon n as the It a the new nw use Ul of the tre th t 1 M t iame ame apparent and a in 1898 18 we wi wex t tr r 1 x rt ng considerably more inure than thaI it If t the raw rw copper used us in the rid rr ing in us U control of or the te worlds t k The manufacturers of Prance France f r I 1 C n any gave up U the tt th aLter after ater a ai kf i i f s u le and a began to buy by enor r t r ih Hut But the English r buy In n England unlike 1 T ni d States tate raw rw Engla copper te I 1 an ar a t 0 of f Circulation or The Tl cash ch article atile options opt for f the tb future ry of de dealt In In in much the the same s man T hat hat grain grin cotton coto and similar cora coin cO ties tie ar ari ar in our own 0 country Th The oh manufacturers still asserted L t the rise in price was due to rg a gi C i corner ner exactly simi g that which M 1 attempt form for in Prance France Fn some se me years ym er ago o hy hey h held beld that the mm collapse I n fl a little e come on it iL They Te or entered ente into Imo extensive teve u iterations for the decline in the t If f options in copper Moreover t cpr T i fused rus to t buy by the actual metal mW F I prevailing prices pr and an allowed 4 iness iress of o manufacturing it to t go gov gor t v r r lands la chiefly chey to our o own ow cotta coun count c 30 ham harge that the rise in te s copper cp r to a corner t c was nas of course roms rous but bu the Englishmen cu th C it 1 i it with all t Ame al to understand It I how is i 11 i idee ide could coald cold have have una lodged lo in bui busi buel bw t na nf n s minds mi when n the figures the I he actual atu enormous e increase u Vj ht consumption of copper p 1 i fore then them and ad it ft i wa Wa i ut lat in 1898 18 th thO the exports of ot A r I nr lr were r p ai 1 i Ir T tim tm tm those of the be tb ot year e ye D I Ar The Englishmen declared that I tn copper concerns cp had bought V i 1 rn isly IY in the t English market bd tak II jer back k to America Am and md then t n I Pp ng it to England ra i Egland rain again aln for the J 5 of confusing cuing the thu th statistics of ir manufacture i I ii and imports It me imp 1 that 0 Os large American purchases I i opp tS Pr r were made m in the th Of t s l but bu this tta was W chiefly because bu f I y e of American bust busl 1 r and a the decay of bul PI It English enter ener tn met meant simply that tha so io tre tret t il in had bad afi been th adan in the Br eI t ts of or tri 11 r refining and L LIn R in jn Am that our r able abie to t buy thc tho te crude irude Icu e topper I brought br brIt ought to England from Chili Chi bring brin it to the refineries of Perth PerV Amboy Amby and am send sn se nd it back baek to England Englad at a large net ne 1 profit p on the transaction There is Ht lit lite lt tle te tI e wonder vonder woner that the refiners refiner of o f Swane were troubled truble at the pro progress gress ge g ress of American metallurgists Tho The English manufacturers asserted I finally nally fi that chat tat the high prices pric commanded commande comande asee ci cir for fo r copper would cause cus an increase In I a production p which would ul defeat the ends end S of o f the imaginary American manipulators th ors or 0 15 It I should be observed that tat these thes thee e scle s high prices price while the they have hay e been be b een rapidly attained attn are still much muc h helow below elow b those tho which prevailed in years year jeas a aone gone g one by b In 18 the standard brand brn of c if copper opper c clI sold at 10 per ton in the Eng En lish lI h market The rise in lS price pric of the th e est last la st six nix years jears er has only resulted in an a n increase inre I of about abut 10 per cent annually y in i n the worlds production and an of this th is the he t greater proportion has hes been in ot geter b ben our ir own o wn country ont Bitter and determined even if de d I l was the resistance made by b the thE U tO English E buyers buyer to the American pro pr d of copper in the last half of f 1893 1 and an throughout 1899 Our exports ts of o f copper in 1899 were pounds Is less les l ess than in 1893 yet at the close of i f the te year e our stocks stok of copper were we Ie leeo lE i eee than at the same caine time of th year yer pre previous prevIous pr 5 ious v though our production ton had in the he t meantime greatly inci increase Increased eased show eho I Ing ing i ng that we we instead of the Englishmen were doing dit the manufacturing The TI price p rice of copper copp r wh h in May of hist In st stear year y ear was wa 79 per ton in the h market fell fel to 70 per r ton in Decem Deem a ber h er But Bt that brought little help hep to England The Te first frt weeks eek of January ant 11 of or o f 1900 found the English warehouses es practically p destitute of copper and its I manufacturers and speculators burden burde burdened burdene a ed e O d by contracts for fr the decline d which th they hey t saw BW no 0 hope of fulfilling Mean Mea Meanwhile Mea U while hie the market for the article artcle kept ke pt expanding e Owing to the stupendous us demand d for it by b the shipbuilding plans pin as of o f all al the rhe re great geat nations for telephone ne and an trolley wires which are ae bein rig strung trung s around aund the world in constantly constant ly multiplying lines it i waa wa evident that th at atthe the te use of copper in the coming spring rig season eason s and ad throughout the year would id be pon a scale sole larger than ever known knot Va before bere The English manufacturers manufacturer and ai ad I speculators gave up the te battle batte During DurI rig I the t he last two months they have been ben benI be en I heavy hea arid and aId constant buyers buers of o copper copperT copp ar arThe The T exports of American America copper c for I m January ammo and an February of the present pram nt year e are nearly pounds greater greal er than for the same se two months of iS iSeo 99 eo e that the deficiency in the te exports expo ts which 1899 showed showe over 1893 has haa been be en almost made good g Copper on Monday Mond ay rose roe to t 80 S per ton in the London mar market mr me Lr ket kean and so s far fr as a any an indication is 15 apparent greatly falls it will wf rise higher before before it |