| Show APPREHENSION fELT f OVER PROSPECTS OF SHORTAGE OF COPPER COPPERAs As th the time approaches for tor another Copper Producers' Producers statement t there ere Is Js Ismore more or less lees apprehension felt folt among consumers as to the prospects 0 of a a. shortage shortage short short- age gc of ot the tho supply of ot the red metal It Is now being forecasted that there willbe will willbe willbe be at least a a. pound decrease and the strike situation Is le far from being settled Of this a R. foreign statement is as follows The situation at the tho mines of oC the Rio 1110 TIn to where 1000 men are out on strike Is exceedingly serious The root of the tho trouble In Spain I Is 1 a a. racial affair and the leading foreign houses carrying on business busi busl ne ness s In that country countr have ha beon eon apprehensive apprehensive of oC grave trouble but most of ot them did not expect it before the early part of oC 1914 1014 It really seems as if It there were no carl early chance of oC the tho copper market again falling ailing into normal conditions for before one trouble is over 0 another crops crol's up and the result is Js that production Is much be below below below be- be low normal with Uh no immediate prospect of ot return to the d days B when output was as aslar lar largely ely in excess of ot consumption There Thera is a lot of pessimism rampant here and no small part of ot it emanates from Liverpool where one of at the oldest houses In tho the trade has taken a fL a. moat most antagonistic antagonistic antagonistic an an- stand regarding cop copper ar This American authority has ered that exports to Holland and Germany do not agree with nUh official German imports which the they are hard hardly likely to do do one reason being that Imports Into the free port warehouses of ot Hamburg and Bremen do donot donot donot not figure in the of official German ll figures res Then Thon again he lie has discovered that Rio has lost tons of ot copper this year or 01 at least are unable to ac account account account ac- ac count for It Rio itlo Tinto has shipped larger quantities of ot pyrites to America this thle year ear than usual but smaller quantities quantities quan quan- titles to Europe and this ma may account for tor t tho he Liverpool criticism A careful ex examination examination ex- ex a of ot the returns certainly docs does not warrant suspicion bt being entertained a as s to manipulation which seems to be t feared eared in Liverpool tv The Intrinsic position of ot copper v from tram the European end is very veo s strong trong and each fresh statistical showIng show allow Jn Ing l ag reveals rc added strength Following last weeks week's sales of oC more t than han pounds of ot electrolytic and cabling asting c copper the market ha has quieted v very ven materially although contrary to general gun gen en- en e eral ral custom no cO concessions by hy second h ands have appeared Producers regard t this his as a favorable sign indicating that I t the he outside market for copper has been I c cleaned leaned up European consumers are aro reported a again as RR again gain a being low in their supplies and European houses hint at the o of ot f a buying movement among them Henry Henry Hen lIon I r ry y R. R Morton Co and Brandeis Goldschmidt Gold- Gold s schmidt Co I The rhe Mortons 1 point out that the tile greater ter p part pait art of the Rio Tinto output comes to American refineries under contract so 80 t that hat tho the Toss loss of ot copper from that mine I will vIll bo ho seriously felt b here s by producers It is ls feared eared say the latest Merton I a advices that the Americans mil may have t to o fall fail hack back upon the small remnant of ot r raw aw copper which Is stored In this England Eng Bog l land and count country As this thin constitutes the only basis upon which the London on on standArd standard standard stand stand- ard market can contInuo continue to exist the tile l latter atter mR may be faced aced with Ith tho the task o offending of defending de dE'- fending this stock a against any further en en- en There has hM be been n bear covering co In London during tho Vast 1 dl day dav or two and this ha has I re established a premium in the spot position po po- po- po over futures following practical practIcally I i Identical quotations for both hath |
