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Show First Six Months ol' Present Year Show Increase Over Last Season. ONE REASON IS THE PRESENT LOW PRICE Exports of All Metals This Year Compared With Last Look Encouraging. When general business at homo is necessarily nec-essarily quiet, due partly to unsettled financial conditions sucii a's have been I'xpcriiiiiced since last fall, or to a pend- ' lng presidential election, or to other , causes with economic Influenco, , then 1 producers In this caso the mining In- duatry learn tho wisdom of seeking an outlet for their surplus stock other than the regular channel, says the Mining World. For a tlmo domestic prices may be cut to encourage buying, but the wise producer or dealer In the commercial metals silver, copper, lead, spelter, etc. ilbcs not wait long to gamble away his profits on the possibility of reviving the home demand, but studies and works to Increase his prestige In foreign markets. The result often Is that the primary source of supply the mine and hidden- : tally tho metallurgical works may con- tlnue in operation, while less fortunate properties are compelled to close down. Were It not for the fact that foreign countries, India especially, purchase the bulk of the world's supply of sliver (of which the United States contributes about one-third), whether the metal Is for hoarding, coining or use In the arts, many of the minus on the American continent con-tinent would bo shut down. True, our government mints bought I nearly 7.000,000 ounces of silver during I the first flvo months this year, and there 1 have been purchases by silversmiths and 1 others, but to a smaller degree than be- 1 foio the chill was given to prosperity by ' last October's money scare. By comparing compar-ing domestic orders with those for export ex-port there Is a wldo margin In favor of tho latter, As nearly as can bo estl- 1 mated tho exports of sliver from January ' to May Inclusive amounted to 37.07S.030 fine ounces, part of which was won from bullion, etc.. Imported from Mexico and Canada. The largest domestic supply comes from Colorado, Montana,' Utah, Idaho and Nevada, and It Is worthy of remark that an appreciable quantity of silver Is obtained In smelting copper and other ores. The recovery of tho precious metals at a profit will frequently meet the cost of producing the copper contained con-tained In the ore. The exports of silver this year are surprisingly sur-prisingly larger than for the early months of 1907, the result of tho reduction In market price. The extreme quotations , for the current year aro 52 cents low, In . May, and oSfl cents high, In January, making an average for the first six months of 53.002 cents per flno ounce, as against 67.257 In 1907. The highest monthly average price this year was 56.011 cents, In February, and the lowest 52.795 cents, In May. Early In July there was a. slight recovery In the price of silver, sil-ver, due to the better situation of crops and finances In India. Copper exports show a marked Increase this year, which, by the way, have helped materially to "reduce stocks that In future would have kt-pt prices at low level. For the first five months tho exports ex-ports of copper, refined and metal contained con-tained In ore and matte, amounted to 139t-163 long tons, which compares with 64,bl6 tons for the same period In 1907. Germany. France and Great Britain are the largest buyers. China this year received re-ceived 6125 tons of American w copper, which is just that much more than was purchased in 1007. Between the highest and lowest prices quoted for copper this year there Is a difference of about li cents per pound, rather small considering the dullness of the domestic market. Comparing current prices with those of a year ago. however, how-ever, there is shown a falling off of about 10 cents per pound. Quotations on July S. this year, were: Lake, 12g to 125 cents per pound; electrolytic, 12B to 128 cents; casting, 124 to 128 cents. For the first half of this year tho extreme monthly month-ly average prices were: Lake copper. 13. SS cents high, In January, and 12.S1 cents low, In May, making a six months' average of 13.079 cents, which compares with 2-1.939 cents for the corresponding period In 1907. Electrolytic metal, 13 cents high, In January, and .12 cents low, In February, while the average for the first half of this year was 12.891 cents, as against 21.303 cents In 1907. Better prices are looked for during the closing months of tho year. Spelter and zinc ore have both shown expansion In exports this year. Of zinc ore there has been sent abroad 12.633 tons for tho first five months of this year, as against 8071 tons In 1907; and of spelter, 3,113.027 pounds, against 609.-335 609.-335 pounds In 1907. The zinc mining and smelting; Industries have suffered severely severe-ly from' the depression In domestic business busi-ness and low prices, but the future will be brighter. The extreme quotations for spelter at New York this year are 4.S5 cents per pound high, and 4.45 cents low. In February, whllo the averago for tho first half this year Is 4.617 cents, as against 6.582 cents In 1907. From 3.60 cents per pound low, In. January Jan-uary the quotation on lead has gradually risen to 4.55 cents In Jupo, making an average for the six' months of 4 cents, as against 5.06 cents for the same period In 1907. Export trade has been small, 20,366 pounds, for the five months ending end-ing with May, as against .36,406 pounds in 1907. Tho export trade In quicksilver continues con-tinues to fall off, owing partly to the lighter demand from China and Mexico. During the first five months this year the exports totaled only 83,884 pounds, a-s against 223,338 pounds in 1907. Fortunately Fortu-nately for producers prices todav are somewhat better than a year ago, although al-though recently a reduction was made. At 543.50 per flask of 75 pounds, f. o. b. New York, there Is a fair profit for producers. pro-ducers. Other exports for the first flvo months this year Included: Nickel as metal, oxide and matte. 4,504.071 pounds (pro- fi!lclna'nly ln Canada); and aluminum, $162,651, One of the more gratifying features of the export trade In the commercial metals met-als is the assistance It has rendered to a number of mines and ore treatment works to continue In the dividend list. |
