The Washington herald., 1909-05-03

From the joplin Daily Globe
The lesson OF the 1907 panic has clearly
demonstrated that the Joplin district can
stand a severe panicky condition and con-
Iinue the output Of ore necessary 10 keep
the smel,ers supplied
Teaching this lesson. II would seem 70
the writer that Joplin producers who
have conserved their ore reserves have
chosen far the wisest course. for they
will have ore 20 produce when the mar
gin Of profit is wide enough 10 pay fair
Interest upon the uncertainty OF the busi-
ness.
IN the restriction OF the ore output there
Is no loss Of the ore reserves. and even
Z proposition of three months pumping.
without immediate compensation. viii
prove a profitable investment in prefer
/ enCe 10 continuous production az a bare
margin Of profit. The ore extracted can
no, be replaced. and the life Of no mine
in the district is Of excessive length All
are too short-lived 10 have their values
( frittered away on low ore prices
Mexican Product.
The panic has proved that the ores of
/ Mexico cannot be- produced under q -
cent spelter market. according TO the
F highest authority. and correspondents
from leading reliable source conveys
+ the information that the halcyon days Of
! the Mexican production are Of the past
q history and recollection onIy-that the
( immediate future has little hopes in
store for an early resumption OF cut
I putting. while transportation matters
/ have become a serious problem. except
Z through a few months Of the summer
The producing areas Of the Rocky
Mountain States practically ceased their
production early in the panic. Wisconsin.
with Joplin. continuing q small output 70
the end Of the year.
IN writing Of the years record of zinc
ere production. Walter Renton ingalls,,
in the Engineering and Mining Journal,
concludes his resume In these words. IN
any event. the experience Of 1907 seems
u show that these foreign ores are not
serious competitors Of the American, duty
OF no duty" Mr Ingalls, might have
added that no importations OF ores We're
made except to supply demand in ex-
cess OF the domestic production.
While the recent panic has proved that
Mexican ores cannot be produced under q
5-cent spelter market. II might be added
thereto that Mexican ores are no COM
petition 10 superior grade Of ores mined
IN the Joplin district. at any price for
srelter. These ores will be imported
only when the domestic supply OF zinc
ore IS less than the demand Of the
smelters-
Another lesson the panic has forced
Il
,tTict and 70 the smelters reducing the
ore OF this district. is the fact that the
market fOr Joplin zinc ore rules the price
lof spelter In normal conditions OF busi-
ness. This means that with conservative
production the producers OF the zinc ore
OF this district can maintain their own
price for their commodity. without refer
tcnce 10 any other producing area under
the sun. so long as those demands are in
harmony with the general business con-
ditions Of the country at large
The panic has practically passed for the
mine owners Of this Cistrict-at least the
hight ahesd is dlscernible-whiIe zinc Is
practically the only metal and ore indi-
eating a strong upward tendency at this
date.
Plain Business Demand.
One other lesson recently learned-ar
least it should be lesrned-tbat has q
reflex in the panic. is that with con.
servative production and harmony oi
interests between the producer Of zine
ere and the producer of spelter-no fight
ing and no antagonism-but a plain
straightforward business demand or II,
part Of the producers OF ore will be net
with a hearty response on the part oil
the smelters. because the panic Ia;
demonstrated that Ct Is to their interests
L ought 10 be known now 10 every pro-
ducer that nc public demonstration OF
restriction IS necessary TO accomplish
results, and that II taken in hand at the
right time a dozen producers can control
the entire situation
This lesson IS conveyed in a few words
During I9C5. with a strong secret organiza-
ton. the producers maintained an aver
age Of SASS per ton for zinc ore. with
uncertain metal market: that during 1866
/