Notice No. 00-333
September 26, 2000

TO:
ALL COMEX DIVISION MEMBERS
ALL COMEX DIVISION CLEARING MEMBERS
ALL COMEX DIVISION MEMBER FIRMS

FROM: Neal Wolkoff, Executive Vice President

SUBJECT: COPPER WAREHOUSE RATE CHANGE


The following new rate for the handling out charges for copper has been 
submitted to the Exchange by Southwest Commodity Warehouses, Inc. for its 
facilities located at 4619 N. Highway Drive, Tucson, Arizona and #1 Jacobus 
Road, San Manual, Arizona.  Southwest Commodity Warehouses, Inc. is a COMEX 
Licensed Warehouse for the storage of copper deliverable against the COMEX 
Grade 1 Copper Futures Contract.  The new rate will become effective on 
November 1, 2000.  All other charges remain unchanged.


RATES AND CHARGES FOR COPPER

Southwest Commodity Warehouses, Inc. Effective:  November 1, 2000

Handling Out Charge per Short Ton: $22.75

The following previously published charges for the storage and handling of 
copper at Southwest Commodity Warehouses, Inc. remain unchanged.

Handling Inbound per Short Ton: $0.00
Monthly Storage Charge per Short Ton: $3.85
Preparation of Warehouse Receipt: $0.00
Replacement of Each Warehouse Receipt: $5.00
Bill of Lading: $ 5.00
Insurance Premiums: $ 0.00


Please be advised that the warehouses, at their discretion, may require 
handling fees based on the new rates for all copper physically in storage as 
of the effective date.  That is, the old rates are not grandfathered for 
copper already in storage prior to November 1, 2000.

Specific to handling out charges, invoices prepared by COMEX Clearing for 
warrants issued prior to November 1, 2000 should not call for reimbursements 
for handling out charges based on the new rates.  Reimbursements for these 
warrants should be based on the old handling out rate because the warehouse 
was prepaid based on the old handling out rate.  Though the warehouses have 
been prepaid the handling out charges based on the old rate, the party 
shipping the metal out on or after November 1, 2000, may owe the warehouses 
the difference between the old and new rates upon shipment, at the discretion 
of the warehouse.  Clearing Members are advised to carefully review invoices 
to ensure that reimbursement payments are not made for charges that have not 
actually been prepaid by the market short.

Should you have any questions or require any additional information, please 
contact Albert J. Getz at 212-299-2608.


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