The condition of the copper market in Japan is worse than ever, with no prospects of relief. The "Mainichi reports the latest quotations for electro copper at Y29.50 per picul, and 98 per cent. quality at about Y28, but these quotations are only nominal, as there are no buyers. The leading mineowners—Mitsu Bishi, Fujita, and Sumitomo—had been selling entirely for export, the home market being supplied by the smaller mineowners. The suspension of exports, however, has forced the leading men on to the home market, which they have congested with enormous stocks, In the consequent slump the price has fallen so low that it does not cover cost of production. A proposal is therefore afoot among the mineowners to stop smelting until the congestion is relieved. At first, says the Osaka paper, the war did not seem to discourage the copper industry at all. It is true that in August the number of Larerern received by the Osaka District Mining Office for prospecting or working new mines fell off but there was a great increase in September. The increase was accounted for by the activity of speculators, who looked forward to large post-bellum demands for copper, but as things stand at prevent, even a restoration of peace would not bring much immediate relief to the industry. No great demand could arise for at least six months, and speculators have a difficult problem to face in paying wages and interest and holding out till the situation is relieved. Most them are very pessimistic re-
Text read from the printed page and cleaned; old type leaves the occasional error.