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Show REVIEW Ofr METAL PRICES SHOWS JILVER RISIhG Outlook Is Hopeful for Copper and Lead, With Export Movement of Spelter Continuing at Record-breaking Rate. ! ... TB2E racial situation sine-e the outbreak out-break of the Tvar haB been subject sub-ject to unusual influences "which i have broupht about ?orue condi tions diiticult to foresee. At the beginning be-ginning all Forts of prophesies Trere made, many of which were never realised. real-ised. The situation is clearing now, however, says tie ilining and Engineering Engineer-ing orld. The silver situation has reen ono of weakness and low prices. The war is not entirely responsible for that, however, how-ever, as the price hag been declining since 1S112, but since August 1 the de- cline has been more rapid. The average for (September, 1912, was 63.0S cents per ounce. There was considerable fluctuation fluctua-tion in 1913. Januarv showing an average of.tii.M cents, April -19.49 cents. May 60.30 cents, and June 49.99 cents, another rise-following. The year 1911 showed steady decline "from an average of 57.56 cents in January to 49.43 cents in December. January of this year showed 43.59 cents. Early in February 4S cents was reached, but there hns been a steady, though small, advance since that date. Silver on Upgrade. At present the market is stronger, due to an increased buving movement, and therp are indications that further improvement im-provement mav be expected. One factor fac-tor in this is the annonucement that the imperial German government has issued 60.00i.i,000 marks in 1-roark silver certificates, certifi-cates, which are to be covered bv deposits de-posits of silver bullion. This means the equivalent of some $13,000,000 in gold. It is of interest- to note that certain banking interests in tho fuitcd States have entered the market for considerable consider-able silver under ninety-dav options at 43 and 4S1-4 cents per ounce, but without with-out success. There may be some connection con-nection between this activitv and the Overman demands. Demands of the far east are already requiring considerable, con-siderable, t-hipments of silver from Eon-don Eon-don and San Francisco. These facts lend considerable encouragement to the silver situation. The copper situation is not greatlv changed, yet the outlook is hopeful. The price continues rirm at ll.GOw 1 14. '30 cents for electrolytic. Purchases I by domestic consumers are light in j tfcn hope that increasing stocks will force cloTvu prices. The best price is 'obtnined for European shipments, i producers receiving 14.73 cents for : some of these. Exports, mainly to ! Great Britain, France, Italy and Sweden. ! continue heavy. During the Inst week I in January the exports totaled 15.389,-322 15.389,-322 pounds, and for the first week in February 0,71-1.070 pounds, according to j the department of commerce. Whatever ; the export demands may be, there is J eucourageraent in the increasing- activity ac-tivity of the domestic iron and steel industries, in-dustries, whkh consume large quantities ot copper. Increase in the activities of the iron and stenl industries may be taken as an indication thot other industries in-dustries are improving and that other consumers of copper cannot long remain ' out of the market, and an earlv increase in-crease in price may be -expected. The tin situation is not favorable and statistics do not appear to warrant the present high price in London. The American and European consumption is such that visible supplies must increase. Demand for Speller. The lead situation has long remained unsatisfactory. Prices continue below 4 cents per pound, but are improving. The New York quotation is being fairly well maintained at about 3.SOt7f3.So "cents, and St. Louis at 3. 753. So cents for spot: futures at a.SOtftS.SVU cents Xew York and 3.G5;n 3.70 ceuts St. Louis. The Joplin lead-ore market seems anchored at $47 per ton for SO per cent ores. , Spelter is the brightest spot io the metal situation. Prices continue their upward trend. The present quotation is S.2ofo S.75 cents per pound at Xew York. The demand continues heavy at London and strong at Xew York and St. Louis. There has been come falling off in the foreign inquiry, but the export ex-port movement continues at a record-' breaking rate. Domestic consumers arc making heavy demands. The foreign situation is a boon to American producer. pro-ducer. At present Great Britain and France, which formerly drew their principal prin-cipal supplies for spelter from Belgium ; and Germany, are dependent on America 1 tor their fupplies. Tt is therefore ex- t pec ted that the price of spelter will re- ' main high until the war h ended. ' |
