The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1916-12-28
GOOD COPPER MARKET
AFTER PEACE COMES
ELEcTRIFlcATloN OF RAILROADS
WILL CREATE DEMAND AT
LOWER PRICE.

A reduction In the price of copper to
between 20 and 25 cents per pound
which can be expected after peace
comes, would aid materially In in
creasing the domestic market for the
metal. In review of the situation an
eastern copper authority says:
With peace possibilities occupying
the thoughts of the financial world
considerable attention has been turned
toward the future of the copper metal
market. The liquidation that follow
ed the German peace proposals
Drought dow the valuations of COP
per securities IN common with the
general list, but 1t is significant that
on the break there was usually heavy
individual buying of certain groups of
stocks-more particularly the invest
ment shares-and the character of this
buying seems to indicate an apprecia-
ton that from purely investment
point OF view the new levels establish
ed represent exceptional bargains, II
the future Of the copper metal indus
try be properly analysed. 1t is sig
nificant that while prices of securities
have been reduced, there has been no
reduction In the price Of copper metal
nor Is there any change in the attitude
of the producers regarding the price
OF copper for future delivery. all of
which has an especial significance for
the holder or prospective buyer Of
copper shares.
In Demand.
There Is no sound reason to be-
lieve other than that every pound of
copper contracted for will be taken by
foreign buyers. II peace is to event
uate In the course of the next few
months and the copper consigned to
the allied powers should not be need
ed for the manufacture of munitions,
certainly this huge tonnage of copper
will be wanted for other purposes At
no time probably in the history of
Europe has there been SO great cop
per famine as at the present time, in
spite of the tremendous volume Of i'm
ports. Not only has the new copper
that has crossed the ocean in the past
two years been destroyed beyond re-
covery, but copper metal in existence
during the last 40 years has gone the
way of the new copper. Copper metal
that Germany bought for 20 years pri-
or to the outbreak of hostilities has
been destroyed. And at the outbreak
of the war Germany was buying Am
erican copper at the rate Of 100000. 900
pounds annually. We have, therefore,
in prospect as the result of peace in
Europe a phenomenal demand from
allied powers for copper for replace
ment and reconstruction purposes, to
which may be added the remittance Of
Germany in the American market for
the same purposes.
Az to Electrifioation.
Analysts of the domestic industrial
conditions agree that the abnormal
price for copper metal established by
the European demand for the red met
al for manufacture into munitions of
war has made impossible hundreds,
perhaps thousands, of projects in
which large tonnages Of copper were
prospectively to be consumed. There
is scarcely railroad of any magni-
tnde in this country that has not had
under consideration since the period of
20-cent copper the electrification OF
at least a portion Of its lines or ter
lminals. There are innumerable n.y.
droelectric projects awaiting a reduc-
ton in the price OF copper metal that
the initial cost may not be too great.
In practically every manufacturing
line in which copper plays an import
liant part there is tendency to delay
buying of copper until the frenzied
demand for the red metal for the man
ufacture Of munitions ceases and the
abnormal quotations recede. We have
therefore, In prospect, in the event OF
the establishment of peace In Europe
admittedly lower copper metal mar
Iket. Yet II must be admitted that nc
! shrinkage in the consumption of the
red metal may be looked for; in fact
the reduction in prices should afford
stimulus to increased buying. Below
rs cents pound for copper there
should be domestic demand that viii
replace the buying of several months
! past on the part of the munition man
ufacturers Of this country"