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Show COPPER SURPLUS CKSJIEl! Question Arises Whether Stock of Red Metal Has ; Decreased. :. " As a fitting accompaniment to the recent re-cent advance in copper it has been asserted as-serted that big surplus had all been ! cleaned up and no longer menaced the ) producing industry; otherwise how could i the price advance? Ail of which sounds logical enough, but somehow statistical proof Is lacking, says the Boston News , Bureau. - Not many months ago, confronted with ih& necessity of reducing copper miners' wages, the producing interests, supported by government officials, were setting forth the desperate condition of the copper cop-per Industry, and the statement was made that "the copper surplus exceeded 1,000,000.000 pounds. ! In Juno the government bureau of mines estimated surplus copper stocks at from 1,200,000,000 to 1,500,000,000 pounds. In the above figures, however, are included in-cluded concentrates and copper in process, and as this amounts under normal nor-mal conditions to between 5o0.0O0.000 and 600.000.000 pounds, the published statement state-ment that the surplus of copper amounted amount-ed to over 100.000.0u0 pounds is, to that extent, misleading. ! The producers, early in the year, however, how-ever, were very frank, astonishingly so. in emphasizing the adverse conditions in the producing industry. Tt is a matter of zreat importance to the consuming and producing trade to know what has become of this surplus since the first of the year. Has it disappeared, dis-appeared, has it been added to. or is the statistical position of the metal about where it stood January 1? In the absence of official figures showing show-ing refinery production, deliveries to domestic do-mestic consumers, and exports of the metal, which were formerly collected and published by the Copper Producers" association, as-sociation, it is extremely difficult to do other than approximate these items at The present time, but pretty close results can be arrived at. - In the figures below we have endeavored, endeav-ored, by estimating production, sales to domestic consumers, and exports for the first six months, to ascertain whether the 1.000,000.000-pound surplus has been materiallv reduced, if at al!. Tt will be seen from the figures that there has been no reduction in surplus stocks during the first half year, although al-though the advance in the price of copper cop-per from l.i cents to C4 cents might be taken tu indicate a scarcity of the metal. The tabulation follows (in pounds): Surplus Jan. 1 (Including con- centrales 1,000,000,000 Mine production : January 140.0O0.OOrt . February 12S.000.00o March 120.000.000 April 116.00u.o00 Mav 109,000,000 ' June 96.000,000 . 716.000.000 Total . . , 1,716,000,000 Sales to domestic consumers: January None February None March 5 5,0'") 0,00 April 20. 000. 00o May 205.00'000 June 180.000.000 Total 4GO.OO0.000 Exports: Januarv 79.00.0nn February 40,uOn,000 March 27.000.000 Anril 23.ftoO.000 Mav -2.00"'.000 June 24.000,000 Total exports ..213.000.000 675.000.000 Apparent surplus July 1 ... 1.041. 000. 0'10 - This surplus, to repeat, includes prob-abJv prob-abJv oOo.Ot.if'.OOO pounds of concentrates and material en route or in process. The producers themselves, however, included thlti material in their February statement ; tve have done likewise. There is no occasion to get excited ' over these figures; they reflect in lare measure past conditions, but nevertheless it Is very clear that the copper surplus has not disappeared and that stocks today to-day are very large, burin? the first half year, notwithstanding curtailment in output, out-put, the product was not wholly nbsorbed by exports and domestic consumption. ; Boston Stock Quotations. ( Ret-.ortM by J. A. Unci- & v.l Swlfi l.Vli-.-iaflV United Fruit 170-11. Art-Tnfiir Art-Tnfiir 1 -21; . Algf"rih 75-101, A riz C'm . Alicia 44-45, Fnit'e A: Supr M 0'"'. Bincham S-O'. Cl A Ariz 7C-761'... f'al & H-cla r?ntfnnin 1 11-17, C'f'VPT Ufiiikk .14U.-55. Daly 'pz DaTis Dnly rJ''- -10, Ens't Butt- I8'li -10. Franklin 5 1-''Ti. Crnnhy fl't-70. (.Tf-ne Can 43'-5-44 12. Tlanrock 7-7 !i, H'-lvetla 5S.-5r4. Island Oil ,:vt ''', . Indiana 3- 1 '-3. Irnpirrttl'm Cm-tt. I le J;rynl M . K'-rr Lake 4T-5U, Keweenaw 1-1 U.-. Ua Sail-1 4- 5. I -like Opr H-CU. Mason Valey 3-1. Mass tn 7 Miami L'7' 4-s. Mich Copr H-'J. Mf.)iw 75-77. Nv Cons 15 18'),. N'-w Arr-ndlan Nrth Butt J.V?-IG. Mpisinsr 10-1R -... "'rtli l,ake 1 1 -1 1 -.. . Nc' Cor-Mia 2l7 -rJ-.. OVtiriT J '-, 4 Old ( "Inny Vs -lo-'s,, Old rk'.mlnl':n 45 45'c Osfpnla 59-G1 , l"nd Cret k 13-2o. U H Slioe; Mchy 51-51'-., do pref'Trd 27T-2S. Stiattnck 17-IS. Sup A T'."stnn 4-4 ;iv. Sup ( "ppf-r 7- Ht Mary's Qj-rt-i. Suutli ('tali Trinity :C'-4-3i. Tii'.InmD" 1T9--- i; f s' W i7. do prefprrf'd 4H-l'j. Ctnii Ap-x 3-3 U. r-lnii Cono lOV.-lOi. Ciali Mt-i;i's 41-;-4'li, Vic-rorla Vic-rorla 3 ',-:;, Winona 2l-2"-. W' vcrine 2G-27. H"i iindoitfe 1-1 1 1 ' V Standard Oil Stocks. (R'-porl.-l by J. A. UozK- & To.) Anglo 22 22'n. AllnnM.; 1 :','.'( 1-1 1 '). Boru'--RTrnH'.T 4l-O-5i0. Huck-'.ve ftS-10'J. ( 'lirs.-broitcll 2Vj-1". CoBtin'Tita 1 515-500. ('r-f---nt 31-3'1. iihl-prlan'l 170-Wi. i;ur'4n l.'-"i'.. (;hi-th m'ur.fm 1"0-1W, (inP-mt pr.f-rr-d 115-130. II! l-"l-s5. Did H'O-102. National Trun- nlt 27:.-2S,-1 N Y Transit 15-lPu. North'-rn JUT 1Ifi. Ohio Oil 375 3 V-,, 1'rairi-i ll'l 700. J'mirU- 1'if.'- 2-3 2-.M. s-d-ir It ft,' 55.-?.V 55.-?.V SouttiTii I'in'. 1GS-172. SoiiMifrn I'mui oil .".I'i 32' l. S " Ptnn t'ip V -102. S O r'al 'Ja 3oO, s o Ind 735-T55. K O Kan 570 -51m. S O Ky 4H5.475, S O Nrli 5-J5-550. SON.! 7:2 715. SONY 3HH-KC. S O O)do 515 5.".0. a a &. VnrU lo.'i. In ion Tank 127 130. VS'-uurii 430.4 13. U :i sliinl on 13 -Is. Utah Banks and Industrials. ; i l,'port-d l.y J. A. II''I.- A- (.0.1 Bflnk iiork--1'.:: uk-rs Tntst l.'flti. ) 'olnrntilri Tritt lO.'a. Dsf-r't NaMwral 3'i3l. DcT"t Snv-ir.ri Snv-ir.ri -251i. KilNt Nation:,! of Oirdru 35:1. ---rml'-k A- : 2'to , N n t'l I!:ink of lif-pntdlr id"''. Naf'l Tily Jlnnk UMl,, NaT') ro,(,..r ;40h. I Dili Slut- NrtH-.iial 20'Jli. Walk-r llron.. ftur.k'T 'Ix 1 Jl v 7.')0 (OI. Zion'n Savinjjn Jt i Tr-m ?25t.. Industrial toi'V t A ua iKnmn 'd Kucnr II .00- , 11.75. ( "rro-uf hTiir 1 1 1 Mi-US. r.nis'.llda ff'd Wucon IIH-IL'O, Iridi.pi-rid-nl Coal .OSa. I, Ion l oh: 1).0Oa, Mt Hint' I Td i'l ou !i7 on, 1 Sndrd C'-nl .5d.. I't.'i li-Ida I11 Huar S.l'oi.. I tHh I'trt- 1 lay '-.'..OOu, I talt IT A Ut lt pfd 07a . C M I 1V3:.. IPiiid-- r.lon Con 1 Ch f-ti. S U Kfor-k Ex ?. OIL. SUiri'lard Ion ; 'j'.h. 1'fa), pr Ut Ut r.n -h '.ut, f J.t ft, JT 4. 71b. Ctnh S '-'irl t li i Ch 01 02 I tali 'ins A Cok- 5s 70a. |