Show BRISK COPPER SALES REPORTED I Germany Big Buyer of Red Metal With Am Dollars Based on estimates of three big ble- New York selling agents agent there were pounds of ot copper sold n December for tor domestic and shipment nt The bulk of It was waa I contracted for at 14 He c for delivery during Jan January ary and February The market Is at pr present nt 14 c with one big company refusing bu business at this figure except for I emergency demands f Its be best t cu customers says the Boston News Bureau Dureau Ordinarily January Is a 8 dull dun month particularly parI particularly par par- the first three weeks Wire draw draw- I who who consume a n large percentage of ot our refined output output u usually output usually begin in February to buy with big purchases ases carrying through until April for tor later season ea n demands The I I first week Peer pf of this l month n hie however copper f. f I I sales I were brisk One agent sold pounds at Tic 14 per pound a a. week ago Calumet 8 Hecla i Is sold up to February and good grades of Lake Superior copper copp are commanding a a. fraction above lIe c per I pound The former premium of ot Lake metal over electrolytic ha has returned for the first time in several months montha Notwithstanding the deluge of marks I coming front from their printing presses the Germans are buying American copper andare andare and andare are paying for It with American dollars dollan SI sl SiX million pounds were sold old to Germany In New York Monday afternoon at 14 io 0 per pound to be bo delivered alongside ship I later this month and the money Is la to bo bu paid on delivery of the metal metal American American n money In this connection one copper seller says ay I have not Dot attempted to solve Ive the as to how bow Germany Is III able to pay for tor copper copper copper cop cop- per in our money moneL her marks almost val But Dut It is my opinion the German Onman business men roan have all along been short hort so soto soto soto to speak of th their lr currency Early la last t year several large German manufacturers with whom we deal leal Indirectly borrowed heavily from their banks These marks they sold in this country buying copper from tram us with the proceeds ds When their loans matured they were able to buy German marks at a a. much lower rate and covered their theoretical short transaction Of course coune this Is beating the devil I around th tha tho bu bush h for tor subsequent nt loans have to be made made- at prevailing prevailing- levels which In recent months have been declining rapidly But Dut a. a large part of ot our metal meta sales ales to Germany Ocr Ger many last year were ba based ed on such uch trans trans- actions Dont misunderstand this copper markot mar mar- ket kot however For Tor the first tint time In four tour years wo we do not have to beg buyers e to take du f. f r nO et eb our product When the price of copp copper p r re remained re- re pound 0 1 consumers static Cm all ls during were g 1 Indifferent 1922 fe at nl 13 o 18 oTC o They per had been able to cover their day to day metal requirements ments for tor two years without advancing the price so they argued why hurry now Last month when copper cro crossed sed the deadline and sold at c. c the Uie Inrush of orders order was tremendous In one day I sold pounds at The brass manufacturers and Midwest wire drawers clamored clamorE d for tor copper The momentum has virtually carried through this month Temporarily much of ot the low cost t South Am American copper Is la off the market Lar Large e sellers of ot that country's output are apparently out of ot the market markett or the pres pres- ent tnt They have baCe sold old large tonnages and I understand are well sold old upI upI up I r am ans advising my customers to stock up on copper In the coming months the metal will be on the sellers sellers' side of ot the market And I say ny this fully tully realizing that over pounds of refined salable copper Is coming front from American refineries every month I |