Salt Lake Tribune | 1916-09-24 | Page 16 | Europe Buys Huge Amount of Copper

EUROPE BUYS HUGE" AMOUHTOF COPPER Deal 1$ Closed for 448,000,-000 448,000,-000 Pounds of the Red Metal. XecotiationB between bankers for th British allies and American copper producers pro-ducers relative to the tale of 4-1,000,-UUO pounds of copper were brought to a cloue yesterday, according to a dispatch received over f-oan & Bryan's wire. Kelative to the transaction a dispatch received over the Associated Press vtiro from New York City eays: A coord in z to trade reports current cur-rent in the financial district today, a big foreign order for coppT az-profjatijie az-profjatijie 200.000 tons, or more than 400.00,000 pounds, has been placer! by foreign interest?!, chiefiv Britiso and French, with large producers in this country. Tbee include the American Smelting & Refining company com-pany and the Cnited Metal? Selling companv, which represented Ama'ga-mated-Anaconda interest!. The copper cop-per ii to be delivered in the first six month of 3917. Thi contract is ?aid to be unprecedented un-precedented in the history of the copper trade. 'o eueh purchase for delivery over any lenjj: h of time ha? ever been made and the month- ly delivery of a bout 7.j.00u.0'im i pound" is in it"!f equal to the maximum max-imum ton nag1 ever exported. Th total amount involved in th;c t ra ne3': tion is aid to be about $U-ri"-'',''00. Tne price to b pa j 1 for the copper i not dit-coed. bjt it is belie-, ed to ranne betwee n i'6 and 27 cents a pound. The exportt of copper to the vario i foreign countries for "the eiht month; ended ALfust 31 last follow in tons of 2J4U pound?: : ' ." Cnl'ed Kingdom -r T."i l Fran- e KO, 6. ,' T'j 'rrriar;y I Holland 1 . r 1 2 t;- 1 H e:um Visrria I ' a i v 2 '. . 1 ? - '. ' I ienn a rk 1 1 : ' Norway and Sweden vlrM 11. R'i,:a 12. V-.'l Curia and Japan Tl : sun-irifg 2,."4 1 Totals I'lVi:-? lTl.T'-i