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Show RUSSIA BUYING COPPER OUTPUT It is understood that the 25,000,000 pounds of copper contracted for in tho New York market by the Russian government calls for delherles over three or four months The price paid Is said to have been 13 5-8 cents, cash New York. Substantial shipments ship-ments on account of this contract al- ready have been made, and It is said I that the Russian government Is obliged to put up a margin of 2 rents a pound on the undelivered portion of the contract, tho same to apply on the purchase price when shipment s actually made. The Japanese government has not purchased any material amount of the red metal for its own requirements, the stocks of copper in that country being considered large enough to meet all requirements for the time being-A being-A fact that tends to discredit the report re-port of Japanese purchases is that quite recently several steamers have arrived from Japan at Pacific coast ports with moderate amounts of the red metal consigned to this country'. It is figured in the trade that if Japan were anxious to horde copper or to increase in-crease its existing supply, exports from that country would not be allowed. al-lowed. Just what concerns are to supply this large amount for the Russian government cannot be learned at this time, but It is understood that at least one of the largo selling companies figure in the transaction. The placing plac-ing of this contract has already stimulated stim-ulated the market, and the price of the metal today is higher than at any time within the past six months. With the increased strength in the market which resulted from the active act-ive inquiry, are reports that the production pro-duction of the metal is to be increased. in-creased. According to interests in close touch with the managements of all of the leading producing companies, compa-nies, there is no intention to materially mate-rially Increase the output of the mines at this time. While there may be a slight Increase in production here and there due to special causes, there Is not likely to be any pronounced increase in-crease In production for the present at least Providing the price of 13 5-8 cents, a pound cash paid by Russia is correct, cor-rect, the contract for '25,000,000 pounds would be valued at approximately approxi-mately 93,500,000. oo |