The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1915-08-31
COPPER SITUATION
IN UNITED STATES

The copper situation is Of great in.
tsrest to a great number of people
Hopes for another rally in copper that
were recently entertained were not
Irving to look into the future certain
Trying to look into tn future certain
factors seem reasonably clear, says
Engineering and Mining Journal. The
.. oduetion of Chuquieamata, Katanga
and Inspiration is going to increase. Ii
il appears, however, that the weight
of their production added to what Is
bling piled up from other quarters rs
excessive, the large producers VIII
probably ~curtail. They learned in 1914
how easy it is to do that, and there is
no longer the tendency that there used
to be to try to hog the market. On the
contrary, there is a better recognition
IF the wisdom of operating for the
common welfare and therefore there is
now a spirit of friendliness among
competitors.
SO long as the war lasts there is go
ing TO be a very large quantity of cop
|Fer used for ammunition, but of course
such a consumption is not going to
maintain the copper industry of the
worl. The great uncertain factor at
the moment is the consumption for
peaceful purposes, which is still below
normal, especially in the United States.
When is it going to r~evivea This eoun
try is growing rich in money ont of the
sale of its products and its labor at
high prices, and sooner or later that
money must be invested in increased
means of transportation. in Auildings
il improvements, etc, all of which will
REQUIRE copper. The remarkable revi-
val in the iron and steel industry
which can hardly be due to wholly mil
|itary requirements. is conceived to
f~oieshadow this. Yet we should not he
disappointed if a great expansion in
domestic peaceful industry does not
happen right away. Such expansion
must be based upon the financing Of
bonds and securities. and although we
have the means to do hat. the uneer-
tainty of the times breeds caution
NJ xt there are the questions of men
and of plant, both of which are occu
ped to a large extent with military
bl siness. The two things-war and
peace-do not economically dovetaIl
well together. MANY months ago the
view was expressed in the Journal that
II would be better for the prospects
for increase in domestic business 70
have copper hold around Is cents thar
t. have it raised to 20 cents bv mill
tarv buying. We have seen strikinglv
how the excessive rise in spelter-far
more e~xtravagant than the rise in con
per-paralyzed ordinary commercial
consumption. Thus a few producer
profted hugely, but to a large extent
oil the expense of peaceful Americans
rot warning Europeans.
The only possible deduction from
these forecasts is that we shall proba
lily see copper at a lower level than it
is now before the end of the year. al
though there win no doubt be rallies
on sporadic buying movements. Yet
there is nothing to be p%essimistic about.
Seventeen cents, or sixteen cents, or
oven fifteen cents is a fine price for
IF the market holds around
such levels up to the termination OF
the war, everybody ought to be salts
fed. We find among experts in the
trade a unanimous opinion that upon
the termination of the war there will
he a great demand for copper. .