Show COPPER BEFORE FIRST OF JULY In the Weekly Financial Review of New NewYork NewYork NewYork York last Saturdays Issue J S Bache Co the hankers bankers discuss the copper metal outlook in a long financial review as follows Every day brings some added evidence of ot the favorable advance In industry In for tor instance on June Tune 1 It was wal estimated that the surplus which lIch was pounds on May 1 had been re reduced reduced reduced to pounds and that sales for tor the month of ot May approximated pounds pounds were delivered ered to domestic consumers during April and pounds during May with large exports totalling for May a little under pounds which Is over 2 pounds over the tire heavy exports of the previous month The price of or copper is advancing stead steadily steadily ily II reaching 11 cents with every indication that th t copper will sell roll at 14 a cents before the close lot of the current month and 16 IS cents belote the close of or the year ear earThe The favorable development is the demand by b domestic consumers The volume of ot exportation indicates ac accumulation accumulation partly for speculation as the supplies held abroad in warehouses on June 1 were the largest lanest In many years amounting to ov over r pounds The warehouses Issue le ue receipts for tor the th copper and these receipts are traded in the spec speculative speculative speculative market Of ot course activity In Inthe Inthe inthe the certificates ates does not mean U us of or the th metal but bt active speculation forecasts f ests higher prie prie prices a and Ind Induces real rel consumers to lay In needed neede supplies concerns have In Incase increased creased their consumption to the extent case of 16 15 per cent over what it I was as during the theOr 1 first Or quarter of ot the current year yer Cop Coper Copper per er producers and selling agencies de do dare eare pr eare the situation stronger than in soy sev several s oral eral eal years year |