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Show FOREIGN DEMAND FOR' COPPER IS GENUINE A New England dealer in copper Is quoted as follows in thp Boston Financial Fi-nancial Nowc: "It took a long time to break the continued low level of metal prices, but It has at last been accomplished, Whothor or not copper, the metal, Is established firmly on a 14-cenc basis, T do not know, but wo have lo accept ac-cept tho quotations made In London as a literal fact The demand on the other 6ide Is undoubtedly genuine, as Is witnessed by the hugo transactions In tho metal. According to official reports, over 3300 tons (over 7,000,000 pounrs)) of copper wero sold on the London Motal exchange on Thursday. Allowing that 50 per cent of these transactions were for speculative interests, in-terests, wo hao yet sufficient proof that tho balance (or 3,500,000 pounds) will go into actual consumption. "This Improvement In European demand, de-mand, coming ns a result oC the in- tile and industrial lines, and by rail-, ways, both steam and electric, has been the prlmo factor in tho present upward movement in metal prices. As far as American consumption of tho metal is concerned, it is safo to say that it Is well up to normal, and gives promise of steady increase during the next year. Tho Copper Producers' figures for November showed domestic deliveries of over 6S.000.000, an increase in-crease of -1,000,000 pounds over the previous month. There is considerable consider-able cause for optimism oyer theso figures, particularly when It is noted that domestic deliveries for tho previous pre-vious ten months of tho year had been at the rate of only about 57,500,--000 pounds per month." - "Whlto overseers on tea and sugar ostatos in Durban, Natal, receive from $10 to $150 a modth; white farm hands. $15 to 25. |