The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1915-07-08

That exports of lead to Europe 70
June exceeded 100000 pounds, or al
increase Of so per cent over yea
ago, and that further great demand
are to be made upon American mine
for all kinds OF metals to supply tn'
exhausted European factories, Is tn,
opinion of the New York Mining Ag,
In an analysis of the metal marke
situation this week. Toe June ship
ments of 100000 pounds apply only
to lead in the form of pig metal, while
the additional exports OF this metal In
the form of ammunition and lead gal
vanized metal, which has replaced the
ordinary zinc galvanized iron and
steel, swell the total lead export fig
ures to more than double normal pro-
portions.
Domestic Market Strong.
The domestic lead metal market Is
also exceedingly strong. The proniD-
tive price Of spelter and zinc pro-
ducts has caused lead to be substitute
ed for zinc In the galvanizing and the
paint industries. This substitution of
lead for zinc has been In progress ever
since zinc passed s cents per pound
in the spring, and now that zinc Is
selling at around 20 cents per pound
the lead-eoating and lead-palnt in
dustries have become firmly estab-
lished and have created a new mar
ket for many millions of pounds Of
lead per month.
Accumulated Stocks Disappear.
Continuing the summary OF the
metal conditions, the Age says.
The recession In prices was nat
ural reaction following on a temper
airy lull in the demand. The advance
had been too rapid and prices were
almost prohibitive.
The metal market closed on Friday
with spelter selling at about 20 cents
per pound, lead quoted by the trust p.
cents per pound. and copper at 2oH
cents per pound. These prices are
still so high as to be beyond the most
optimistic dreams of a few months
ago At these figures profits are ac-
cruing to the metal producing COM
panies in an unprecedented manner.
A revival of the demand for all the
metals may be witnessed any day,
When the European governments
come into the market they usually re-
quire large quantities for immediate
shipment When these demands are
filled the market assumes a more nor
NAL aspect and has only to meet the
necessities OF domestic consumption
plus a moderate amount for export,
aside from that supplied to the Euro
pean governments themselves.
One feature of the metal position
that must be continually borne +
mind, in any attempt to forecast the
future prices, is that accumulated
stocks have entirely disappeared and
the markets must depend for further
supplies on current production. Even
so, many of the companies and SELL
ing agencies of copper, lead and zinc
have disposed Of a not inconsiderable
Of their output for the ball
ance of this year The result is that
there is only part of the metal be-
ing produced that is available for pur-
chase.
Erect Zinc Shelter.
The high prices for zinc metal ex
perIenced In the last few months have
stimulated the production of zinc ores
the country. The result
has been surplus production. The
effect of this is that only the
better grade ores have been accepted
by the zinc smelling companies. Low
grade or refractory ores in many
cases have been refused, although
there is still good market for desir-
able zinc ores.
In the zinc market an event of con-
siderable Importance was the an
by the United States Steel
corporation Of It's intention to erect q
plant for the manufacture of spelte~
and by-products. 1t Is 10 he located
in the Pittsburg district and Is TO cost
70. 500, 900 to $S,O0O,OoO. The Steel cor
consumes about 5o,00O,oOO
Of spelter annually almost en-
tirely for the manufacture of galvan-
led sheets and other similar products.
The proposed plant will In all likeli-
hood be big enough to FIJI the require
ments of the Steel corporation
IF there has been any combination
Of the zinc smeltens In the country
with view of pressing producers OF
zinc ores the influence of the United
States Steel corporation in the field
rs purchaser Of zinc ore will In all
have widespread results
The Steel corporation Is noted for Its
rair method Of dealing. and II II is to
enter into competition with the other |
purchasers of ore, II is likely that .
benefit win result to the
zinc mining industry.
The decline in the price of speiter
during the past week was solely be-
cause there were no orders and the /
market price could not be expected TO
remain at the abnormal figure wit
messed after the demand had ceased.
Lead Will Go Higher.
The wild snen1flatton In the lead y