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Show COPPER ORDERS BEING RECEIVED New York. Jan. 20 Large sales of electrolytic copper at 13 7-8 cents a pound to domestic consumers were reported here today. Large producers are looking forward to an increasing demand from this same source and are predicting a stiffening of Mie price Since the declaration of the European war it is said that the sales of todav in the red metal are the I first Indications of any large buying , by domestic consumers ; While no positive confirmation n be secured up 10 this time of th n I ports that have circulated the copper trade for several days that K u s sis nnd .Japan are in the American mar . ket for a largo hlock of copper metal credence is given to the rumors In seme quarters of the trade Thai Russia is copper ir- generally be I lieved, for although sne baa rich cop I per deposits of her own, these depoa Us have never been extensively worked, o that .ho Is largely dependent depend-ent upon other countries for supplier of the metal necessary under such 1 ondii inns as nov. eisi in Europe. At the beRiiininj; of th1 war, Russia was reported to have drawn copper to a largp extent from Japan, but this report was subsequently nVnipfl Up tn the end of November the export ex-port statistics show that less than 600,000 pounds of the red metal were shipped direct from ihe I'nlted States to Russia, but it la understood that since that time several consignments consign-ments of 500,000 pounds to l.oon.ooo j pounds each ha ve been made to Archangel, Russia, and it would not be surprising should Russia continue to take additional supplies from America Amer-ica The amount reported as having he-en secured la 26,000 1 pounds, but this amount, it is stated in the trade, could only be furnished by one or two of the large producing companies, and at a price fully 1 rent a pound above the prevailing level For this reason it. is believed that the amount Is largely exaggerated for If such a eon-tract eon-tract had been ( on hided the trade in general would have positive knowl edge of the transactions So far as BUCfa a contract having been negotiated with Japan is con corned, competent authorities are in- elined to discredit the report They sav that Japan is very woll provided With copper, the stocks at the present pres-ent time in thai country being estimated esti-mated ?t aboul 30,000 ton?, or in ex-ces ex-ces of fi7.0nn.00n pounds of the metal which is ample to take care Ol present pres-ent needs These figures are fur pilhed by persons having direct trade relations with Japan In addition, they say that within the past few-weeks few-weeks several steamers have arrived on the Pacific coast with several thousand thou-sand tons of copper Were fapan in actual need of the metal It Is improbable improb-able that exports to this country would be allow ed While the amount above stated as having been taken bj foreign govern ments lai ks verification. trade authorities au-thorities -te of the belief that substantial sub-stantial amounts of the red metal have meeii Becured bj the Russian government in this country It is reported re-ported that several weeks ago one of the leading American selling agencies disposed of a round amount 61 copper Tor shipment to Japan, and it is reported that another contract involving r.u00,000 pounds was ciosed recently. In the trade it is stared that this copper may be bought by fapan for Russian account. |