OCR Text |
Show PREDICT ADVANCE II COPPER' PRICES Depleted Stocks and Buying for Domestic Consumption Consump-tion Given as Reasons. Basins their opinions on the constant decrease in the foreign visible supply of copper, producers are predicting a further fur-ther advance of the red metal today in the eastern markets. Electrolytic was offered of-fered at 121 cents Saturday with 12$ I cents bid. The metal has .shown a decided de-cided advance during tht; last seven days. ' which to some of the larger operators represents a very huge increase in earn-ingi?. earn-ingi?. To the porphyry mines each ad- ; vance beyond 7 and S cents a pound is 1 profit. The demand for the metal is reported 8b strong, with increased buying for domestic do-mestic consumption. It if ah.-o reported that the move on tlie part oi" Henry H. ; Merton & Co.. the larce London metal ' house that eut an aent to the United j States for the purpose of buying all of tlie metal possible around 1U cents and ' which move ended unsuccessfully, has alo had a decided effect on advancing the price. Tho amount of metal purchased, however, made, decided inroads on tiie stocks. It is claimed that London deal-era deal-era are still anxious to buy the metal at 12J cents. The copper stocks are reported as lower at the present time than at any time since the outbreak of the European war. In some quarters it is claimed that a large part of the surplus stocks hae been wiped out and that some of the producers pro-ducers have f-old their output for several months in advance. Late reports show that the foreign visible supplv of copper in England. France and afloat thereto decreased 6'd tons from November 1 to November lo, being oO.Mi! tons on the latter date. The figures compare as follows: 1014. 1912. 1011. Janus rv 1 21,0.4 4C.r.!0 o7,23 S3.-11. February 1 ...16,Si5 32.22$ Z-j.otti S3. 19b March 1 IS.oSI 20.1 1 6 51,507 S2.3St April 1 17.023 32.201 50.17.', S2.207 Mav 1 20.;'. "50 3'. IB7 49.771 ,0S juiie 1 24.J;2 2t,6?4 44.01S 72,613 Julv 1 2.0 2S.172 41.63 70,172 August 1 2S.73') SS.C74 4o.025 6.)25 rl ember 1 . 27,0i'3 2''-. 5j 43,035 66.914 October 1 2K.6T1 22,33 44.23S 67.3?m November 1 ..31,4-13 21.3S1 45.330 CSi6 December 1 21,514 40.746 5S,r3?2 |