Show MINING News the Quotations Camps All STOCKS With a Latest MET At SELLING CO IS CARRYING LARGE AC i STOCKS OF COPPER Tho The condition of tho copper market marketis is b being hig D mado mado plain each eacH day b by the tho 1 heavy T a slump in share prices Today there was a renewal of selling in tho the bi big biff coppers and it is shown hown that this situation is duo due in part to tho the hea heavy p Belli Belling z of on hand by hy tho the indo inde independent pendent selling agencies I while whilo tho United United United Unit Unit- ed Metals Selling compari company is still holding hoMo hold ing in aloof of tho the market since since the price of if tho the metal has been reduced Tho The News Bureau t says 33 lS that tho the July requirements re re- cui ments of the tho American consumers of ul copper have havo now b been cn pretty well filled through sales effected last week nt 12 Vi cents for tho the most part by bv competitors of tho the Unit United d Metals Metal Selling Sell Sell- jn jag ing com company pan Cash quotations for tho the metal are aro 12 cents Tho The United Met Metals Metals' I Selling company has lias no sale of account sinco siner last Jast March when heavy commitments mostly for lor May Maj- delivery were booked Since the tho former month this a agency oncy has played a waiting gamo and mil maintained d its nominal asking for electrolytic copper at 13 cents It is now v figured that the tho United Metals Soiling Selling company must murt have havo at at- least of unsold copper copper cop cop- TH per r on it its hands The Tho wisdom of its policy is doubted 1 in some somo somo quarters but the tho ho tact remains that while tho the largest copper opper selling a agency ency in the tho world tees sees fit to name nanie an entirely artificial arti t price rice for its product its Us competitors have havo placed themselves in a n strong position bv by selling all aJl the copp copper r th they y can can oven even 1 if it concessions had bad to bo be made American manufacturers have havo been and aro are still running on small supplies of copper opper and md their bins hins were well nigh nih depleted when Jas last Jast week the they were able to replace their stocks at 12 cents Consumers took advantage ad o of this low loro level Jevel by bj buvin buying a month ahead further than this this- they would not commit com coni mit themselves even oven at further conces concos- Tho The immediate future futuro of copper tho United hinges hines on tho the action of Metals Selling company officials who are arc still sUB in Europe So lon long bug as the United Metals SelA Sel S1 SelVing holds tho the umbrella for A ing ing company 1 tl us us s. s says Ims tho the selling sellin a agent ent r-in r I for a small group of mines mines just so NO soI I much better off off tho the independents will be for we wo will 1111 all nil bo be able to keep sold pretty well ahead even even though prices are not Quito quite so high hi h as we would like Jike to 10 have o them Should the tho Selling company com coin pan pany decide to unload its accumulation at a price lower than that at nt which wo we have havo sold MId we we of course will havo have to meet it it but tho the chances arc are that the tho ther r en end of the year ear car will show that our policy pol icy of selling whenever henc possible will result in in an average n price fuU fully as high as I that of any my client of the limited Metals Met Iet als Selling company Now New York has hns haga o a report that Calumet and Hecla has c cut t its price and nud effect effect- 1 cd leel sales At the live time tinie of the tho last Copper Cop Cop- Producers Producers' association Cal Cal- f per Pei mooting meeting i and copper was 13 cents t at st which level it had been sold On 1 t the tho be Same samo day the tho independent electrolytic electro electro- tie lytia sellers had worked their price up from 12 12 cents to 12 cents but the subsequent reaction worked the price back to l cents |