Publisher's Synopsis
Excerpt from Mining and Scientific Press, Vol. 98: From January to June, 1909
Production was much curtailed last winter, but from May onward a great many of the mines that had been Operated at a reduced rate gradually in creased their production. New mines became active, mainly in Utah and Nevada, and at the moment, the production of copper is probably as large as it has ever been. There is every probability of this con dition continuing during 1909, for there are no great fears of stocks accumulating. It is true, in Europe, the visible supplies, which about two years ago were below tons, are now about tons, but that is not at all a menacing quantity when one con siders that this is the only reserve in the whole world.
Lead was one of the first metals to advance after the heavy reduction in prices during the panic. The year opened at about to cents per pound at New York; with an excellent demand, especially for white lead purposes, the market improved by leaps and bounds, until in July, when cents was reached. The improvement, which was accelerated by a greatly reduced production, especially in the Western camps, could, however, not be maintained when during the year the mines were again operated in full, and from that time prices gave way from month to month. Since the hearings of the tariff re vision have been resumed in Washington, with the probability that the duty on lead and lead ores may be reduced, buyers have become rather scarce, and this helped the declining tendency, the market clos ing barely steady at at New York.
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