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Show AMALGAMATED HOLDS THE WHIP HAND IN COPPER SITUATION Fully 80.eoo,oo pounds of copper have been sold since Jun 1. mostly lor export, and calling for dellvsry during July and August. Of this tonnage the United Metals Selling company has marketed more than SO per cent. Liberal ealee of electrolytic copper are -reported by the Boston Sews Bureau at 12 cents, the top price, for July and August Au-gust delivery. This Is the highest level since Jsnuarv. Not only hev domestic consumers been csught short of their requirement re-quirement but foreign manufacturers aa well, nothwlthstandlng lsre purchases, hsve not fully covered their future necessities. neces-sities. . Phelps. Dodge Co. have sold them-eelvss them-eelvss out of the market until ready to bonk business for September shipments. Other sgencles are understood to be In about the same position. . The Amagamated Copper company, now controlling ths United Melels Selling company, has without douhl the whip hend of the situation at the moment, owing ow-ing to the complete chance In selling poller pol-ler put Into effect by President John D. Ryan. The copper handled by this agency rfurlns the past two months has not been held at arhltrary figures but market con-dltlone con-dltlone havs been closely followed with good results. Contrary to the previous atste of affaire, ths I'nltsd Metsls Selling company has In some Instsnces been "trailing" competitors, as durlns the cur-' cur-' rent week this compsny hss been selling at a fraction under the quotations of Its competitors. The trade hss expectetlons that the ftSO.OOO.O'io to be expended In New Tork City during the nest five yeara for auh-way auh-way construction and equipment will prove a etlmulstlng fsctor. Copper In v brass, wire, bronse and other forms will b needed extensively In thle subway work. Notwlthetsndlng that electrolytic copper hae been put firmly on a lz cente basis. Laks copper hss yet to advance to Its ususl premium, for none hss sold at better than this Isvsl. Copper concerns with strong German connectlona say that consumption In that country has reached unprecedented proportions snd more copper cop-per will hsve to be purchased to meet urgent requirements. |