Show EUROPEAN STOCKS Of COPPER DECREASED DORING NOVEMBER Henry R it R Merlon erton Co of ot London cable the Boston News New Bureau as a. follows Vo Wo consider producers producers' statistics ex ex cx- celent European stocks decreased as d during dur dur- lug ing Ins November XO 1055 O tons 00 pounds Tho worlds world's stock therefore remains unchanged notwithstanding the extreme reser reserve shown show by consumers Vo Wo o believe stocks In manufacturers manufacturers' hands handt entirely depleted depicted Boston The The 1 loading HlIn producers and sd selling agent agents Amalgamated American Smelting and Refining company and Phelps Dodge Co r refuse to maJ make c any nn concessions In their copper quotations from 17 IH cents cents which price rlee they thoy have hava held firm to for l' l man many weeks Tho The combined product handled by these three Interests closely approximates 1 pounds pound o thoro there remains comparatively little for the other othel agencies some rome of whom arc are making concessions Just at the moment copper coppel to tho the ex extent extent ex- ex tent of ot several million pounds can cnn be obtained at un under er cents cash In New ew York Of Ot course nono none of this cheap copper would como com from the leaden In lh Inthe the trade for fot the they have havo quoting 17 Hi cents and have havo been n able hlo to keep sold up at this price The smaller competitors tors hO however hA have ve lip been willing to sell sen copper the pegged price In order that no unsold stocks should accumulate i Manufacturers In general Jeneral cannot complain com corn plain of the volume o of business s. s Speaking Speak Speak- I ing lug for myself I can tato that we have been ben running running- from 1 15 pcr per cent to CO 20 I per percent percent percent I Iben cent ahead of or last year but bul It Il has b by no means been a banner year nr for our company com corn I pan paD In point of ot net profit It Jl Is understood that the big his selling agencies am am pretty w well sold up for the tho balance of ot the y year ar and this rl bc being case there would 1 be nothing gained by offering down the price o of the metal to attract ne net business Production ot of anI only 13 69 40 pounds furnished the surprise of or the November statement of or the Copper Producers' Producers as association association as- as for while November Is a a. thirty thirty- day dav month and therefore should show how about less output than October provided pro d the per diem outturn of Ir f the two months were the same tho the trade had not looked for fora a decline In production of nearly near near- ly hy pounds Nor 01 was any satisfactory satisfactory satis satis- factory explanation advanced acl to account for rOl this falling off oft The closing of ot lake navigation Ir In November No would tend ten to output Increase output rather than the reverse while It Il Is generally conceded that the effects of ot the copper strike have havo not had sufficient time to he be reflected In refined copper figures On this point a a. copper copperman copperman copperman man said ald We Weere were ere surprised to find that It took i about two to months longer than expected I for or the tile new copper to 10 come como through h the refineries from the mines On this basis then It will still be some time before the effects of or the copper strike will 1 be seen see In the 1 0 output t The decrease In production was du due u to tt toa toa a a. smaller outturn of or refineries rather than han a. a decrease In mine mho output and the I opinion wa was expressed express cd that those who control the refining end of the thc cooper busness bus bus- mess ness could coul explain the puzzle of tm I bers ber's relatively small outturn If Ir they cared to do so o. o |