Salt Lake Tribune | 1913-10-15 | Page 10 | Spelter, Lead and Silver All Suffer

SPELTER, LEAD A! SILVERALL SUFFER World Markets for Metals Are Passing. Through Some-Tight Some-Tight Times. The Engineering and Mining Journal states in its October 11 edition that tho lead market Is demoralized as a result of the apprehension that a. further cut in the official price of the metal on the part of the leading sellers Is imminent, and a great deal of the metal has been pressed for .sale In anticipation thereof. The natural result has been a sharp decline de-cline of prices, and the Now York and London markets have taken on a weak aspect. As for spelter, tho passage of the Underwood Un-derwood bill has brought tho foreign market mar-ket to tho attention of consumers, and in some cases orders wore placed abroad for foreign speller, which, however, failed to affect to any degree tho foreign price of same. As a consequence, the consumer con-sumer has held aloof from the domestic market, and the domestic smelters, which did not want the foreigners to take their business away from thorn, reduced their prlco below the import parity. These developments have unsottled business greatly, and the Journal says that a considerable con-siderable tonnago was placed at the sharp concession in price. Silver barely has maintained its high level, owing to the fact that when the information became public that tho India government had made large purchases of sliver and a shipment of about 1,000,-000 1,000,-000 had been consigned' from London to tho east, presumably for the government, the market reacted and silver declined and remains quiet. From January 1 to September 25, 1913, the exports of silver to India totaled 5.163,500, while to China tho exports measured 652,000, a decrease of 2,387,700 to India and 281,500 to China, as compared with the same period of 1912.