Show n J General Improvement in Copper Industry Seen as One Ore of Most Notable Developments of Year I One of the most notable develop I developments develop develop- ments of the year in hi the trend of profits according to the National i Bank cf of Commerce in jn New York has been the general Improvement In the copper industry Every r re reporting re- re porting company showed marked gains over last year Aggregate earnings of reporting companies began showing marked improvement In Jn the first qU quarter and this improvement continued throughout the second and third quarters The aggregate net Income income in In- In come of nine companies increased 48 is per pel colt cent lt in the first t six months of this year rear compared with the he same lame same period period of last year The aggregate aggregate ag ag- ag- ag net Income of pf eight co companies com com- n- n whose reports for or t the e third quarter are available increased 6 per cent In the nine months of 1928 over the corresponding period of oC 1927 The increase for tor the third quarter over the same qU quarter of pf t last year year was vas pe per cent r- r The developments Grf cv jung tin to the tho rise In Jn profits are the the improved improved Im im- I proved statistical position of copper copper cop cop- per the increased consumption and the advance in prices s. s The stocks of ot refined COpp copper r Jn in North and South America on October October Octo Octo- ber 31 were the tho lowest on existing records being 46 per cent less than thano o 01 t that date In Jn 1927 A contributing ing inS factor to this improved statistical statistical cal cal position was that the refined metal production schedules re remained remained remained re- re below the consumption notwithstanding notwithstanding notwithstanding not not- withstanding the rise in prices Consumption both oth domestic and I j foreign has marked Increased durIng during during dur dur- j ing the year We Ve export a about out 40 per cent of ot our o refined production and this trade during the first nine months of this year increased 11 U per cent over that of the corresponding corresponding correI corre corre- period of Jast year DurIng During During Dur Dur- ing the period domestic shipments I Increased by y 10 per cent ent The in increased increased in- in creased consumption of copper was contributed to by the larger demand In Jn the automobile electrical manu manu- 1 K 30 1928 factoring and construction indus Indus- tries The most important factor was the Increase In price price pf of electrolytic copper New York refinery refinery re- re finery equivalent which for the i first nine months of 1927 averaged 12 1289 89 cents per pound rose to an average of 14 1434 34 cents for tor the first nine months month of 1928 1128 The price on November 15 16 was 1 15 cents The copper Industry Is in 11 the thc best position position tion that it has o occupied for tor a number number number num num- ber of years |