Show FINANCIAL MINING NEWS AND STOCK REPORTS I STRONG POSITION OF COPPER AND WORLO'S VISIBlE SUPPlY All metal prices have advanced recently recent recent- ly and the copper metal especially seems to be in as strong a position as it has at any time during the past two years ears The aggregate sales last week are now placed at pounds on advancing prices up to 27 7 cents Of the situation an eminent eminent emi emi- I nent authority has the following to say The technical position of the copper I metal could I not well be I stronger In any I n other h line of industry d so small a surplus of material in the hands of producers as now exists would cause alarming The The largest producers of copper have compiled figures showing that on August Au Au- gust 1 there was only pounds of I deliverable copper in hands o of refiners or less than a weeks week's supply at th the curlent current cur cur- rent lent rate of refinery output output pounds founds a month It should be borne in mind in this connection connection con con- too that this was not unsold copper as practically all the major producing producing pro pro- companies are entirely sola up to i the first of November and some to December December De De- cember 1 The pounds referred to represent finished copper which had hadnot not left the refineries but was under contract for future delivery It is doubtful if ever before in the re recent recent re- re cent history of the copper industry has the stock of copper been allowed to diminish di diminish di- di minish so near to the vanishing point On top of this the foreign visible supply sup sup- ply In in English and l French rench warehouses I on on August 15 had dropped to I tons or say pounds This is close to the lowest figure of recent record rec rec- ord and practically none of this thin material is available for delivery as refined cop cop- per It re represents resents a secondary grade of ot copper which 1 c would not t be e accepted ep on this f side until n IOU after rt I it h had passed s through the refining process These figures emphasize the poverty of working stocks s of copper despite the record record rec rec- ord breaking output |