Salt Lake Tribune | 1908-10-11 | Page 30 | Monday Will See First Cut in Lead

I If MONDAY WILL SEE FIRST CUT IN LEAD H' It is expected that on Monday will B occur the first local cut in the price B of lead since tho panic. In this con-m con-m section it is of interest to know that Rl tho American Smelting & Refining coni-ri coni-ri pany began settling for lead from its M customers at the rate of $-1.60 per hun-Rr hun-Rr dred pounds on or about August 1, IrfM "which level has been maintained ever fT: Binci!. So when tho western ore pro-Uj pro-Uj : ducer was getting $4.60 during August m; for his lead, tho average eastern price W. was $4.58, and during September tho Wy $4.60 rate was maintained, although tho R;. average price during that month in tho East was only $4.51 per hundred. August has been the best month for lead producers for 1908, tho average ' level being $4.58, as stated above. February Feb-ruary was the t month so far in which (J the average prico of lead was the low- est, or $3,725 per hundred. During the A J first five months of 1907 the price of MMMMwI i letul stood at $6 per hundred, begin- Bf n,nK with Juno to go down tho scale, Bfr ? until December, when the metal gained BL i its lowest ebb, or $3,658 per hundred If j pounds. 'The improvement in prico du- r, ring 3908 was steady until September, ' ' and tho present month will find tho f average still lower. Tho average price L j for 1907 was $5,325. I ,i Western circles arc at a loss to ac- I j " count for the drop in lead. They fig- Ia uro in the first place that $4.60 is low E enough, and they fail to sec any argu- RL ment in the claim that times arc f gradually improving in an industrial y way when ono of the metals that fig- j ' tiro" promincntlj' in the industrial world koops going down in price. And the t ' drop comes in the face of the annouiKic- 1 1 1 ment that the business of tho National d , Lead compan', the lead manufacturing U j trust, is in splendid condition.