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Show HOW B0ST0X REGARDS FIGURES ON COPPER Too much cannot be said In commendation commenda-tion of the decision of the big copper- ! producing and refining Interests to maid " public once a month official figures as j to the output of copper and the amount of merchantable metal on hand, says Iho j Boston News Bureau. , These figures as of dale February 1. published yesterday, resulted In dispelling much apprehension which had existed In copper circles as to the size of the rup-per rup-per aecumulallon. Estimates had been published by a New York trado paper which were known to be fireatly oxng-pcratod. oxng-pcratod. but which nevertheless had their effect in the absence of official information, showing a world's accumulation accumu-lation of no less than 050.000.000 pounds of copper. Tho figures published yesterday, covering cover-ing probably 05 per cent of the copper produced in this country. Canada and McN'lco. and showing 111,000.000 pounds of undelivered copper February 1. wero construed as an evidence that after all (ho copper metal situation Is not In such a serious plight. It was shown, for Instance, In-stance, that of the Il2,0n0,000 pounds produced. pro-duced. In January then- had been exported export-ed and dellvored to consumers 'JO.Oon.oOo pounds. In other words, SO per cent of the American production In January had been contracted for. It should be borne in mind, however, that while the stock of marketable copper cop-per Is reported February 1 at M I.OOO.nnn pounds, these figures do not include supplies sup-plies held abroad. On February 1 last, the so-called foreign for-eign visible supply stood at 52.935 long tons, or 11S.57LJ00 pounds, and to this thre should be added the "Invisible supply." or the surplus on tho other side of the water, which Is not held by consumers con-sumers or in public warehouses. At a minimum this invisible supply Is probably prob-ably 50.000.000 pounds, which would bring tho total world's accumulation at tho present time up to 312,000,000 pounds, as follows: Pounds. American surplus 111,130,013 Foreign visible supply in public warehoufes .'. . .11S.57I.IO0 Estlin'd Invisible supply abroad 50.000,000 Total 312,701.-115 This total is between throe and four months' supply at the present rate of the world's consumption. |