White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1911-08-13
George I.WaIker, Eastern Au-
thority, Now Visiting District
Sums Up the Situation
SHOWS FACT AND FIGURES
TOO MUCH POLITICS KNOCKED
THE PROPS FROM UNDER IN
DCSTRIAL PURPOSE But SAN
ITY Is ASSERTING ITSELF.

George L. Walker. editor and one
of the proprietors of the Boston Com
mercial author of Walkers Letter;
and one of the best authorities in the
country on the copper situation
production, consumption and the
metal market, arrived in the district
last Monday night, and has since been
busy going over the local properties.
He has visited Copper Flat and the
plant of the Steptoe Smelling and
Mining company at McGill, and will
spend several days more inspecting
other mines. Mr.. Walker is travel
ing through the copper districts. and
writing for his paper his impressions
of the various mines he visits. WITH
the production of these mines fresh
in his mind, with the knowledge OF
copper consumption in this country
and in Europe he is in a position to
talk learnedly and convincingly of
the copper situation as 1t exists to7
day. To him the outlook for cop
per is of the best, and he predicts
much improved condition in copper
as we'll as all lines within six months
and boom in general business with
in the year.
The metal situation has turned
for the BETTER said Mr.. Walker.
''The market exchange prices relate
to the lower grades of copper. Stand
ard copper; while the Lake and Elec-
trolytic are naturally higher because
they are the higher grades which are
used in any manufacturing or cleo
trio purpose. The recent improve
ment in the statistical situation of
copper is due to the steady increased
consumption.
Until the panic of 1907. Europe
was II years behind US in electrical
development and equipment. Since
then, and particularly in the last two
years, the governmental investiga-
tions and prosecutions of the corpora
tions have destroyed the spirit OF in
vestment. and there has been little
or no money obtainable for new
enterprises in the country. The Eu-
ropeans, who had been in the habit,
heretofore of investing a consider
able portion of their incomes In
American securities, have turned to
home development. Many have
sold their American securities and
have invested the proceeds else
where.
"All new enterprises of merit or
ganized in Great Britain and Europe
in the past four years have been CIV
en- splendid financial support. What
has been our misfortune has been
Europe's gain. Business is good
over there and this business is re-
flected here in the increased con-
sumption of American copper.
while the game of politics in
Washington continues at its present
excited stage, and is so interesting to
the politicians that the industrial
welfare of the country is forgotten,
neglected, and the industries even
assailed and prosecuted; We cannot
expect any very considerable increase
in copper consumption at home.
believe. however. that sanity will re-
assert itself in the conduct of public
affairs, and that within six months
or a year general business will be
booming in this country
THE anticipation of continued
rapid increase in copper production
for practically all time is very much
in error. During the two months
past I have been visiting the leading
copper producing districts of the
southwest. Almost every mine
have seen has been putting out the
metal to the fullest capacity of its
,plant. l presume that there is such
CONTINUED on page four,