The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1916-07-13
COEUR D'ALENE MINES AND
METAL PRICES.

The drop In the prices of spelte
and lead are not matters which shoul'
cause great apprehension among TIN
people of the Occur d'Alene distric
who are dependent upon the profit
able mining of those metals. O.
course 1t is never pleasant to con
template a reduction Of income, whe'
Their 1t be in the form of dividends oil
wages, no matter how high they may
be, and yet when the income is known
to be abnormally high on account OF
conditions which are bound to come
to an end and thereby restore normal
conditions, it Is the part of prudence
mind so that when the reverse comes
1t will be merely case Of the expect
ed happening. The phenomenal price
price of lead have of course been due
to the tremendous demand from the
allied nations of Europe. These met
ais with copper and others have
been used in manufacturing the vast
stores of munitions which are now
being used in the great drive against
the kaiser's army. The demand from
Europe has suddenly ceased. If the
gigantic struggle that is now going on
results in crushing Germany and Aus
tria, we can not expect return of
the high prices of the past year and
more. II it fails in that purpose, the
supply of war material will have to
be replenished on the same scale and
prices viii again soar. It looks now
like the last stage of the war had
been entered and that before the end
of the year the allies will be victor
ious. What then about the metals
The prices Will be adjusted to the de-
mands OF peace, but for several years
they may reasonably be expected to
be above normal during the period Of
reconstruction. These will not be war
N htVt fhnx l.
maintain healthy and prosperous
Of the mining industry. |
Commenting on the situation, the last
issue of the Engineering and Mining
Journal has this to say:
THE metal markets nave been duh
and reactionary for about two months !,
Last week spectators in stocks awoke
10 this and the metal shares were
hammered down severely. The Wall
street organs took up the talk that
lad already been rife in some pro- &
iueing districts and expressed opin- +
ons as If calamity had overtaken the r
metal industries. Now, in fact, cop
'er at rs cents, lead at Z cents, spelter
t 10 cents, antimony at 10 cents, /
quicksilver at SIS and tungsten ore at $
80 are not low prices. With respect y
o most of them they are prices that
re from u to 2 times above the nor
nal. They are low as compared with y
mat they were when they were about II
times above normal as they were In
II cases except copper and lead But
mat can people expect? Apparently :
aVing been Piven an unexpected m
like Aladdin's nothing would II
UT them but even bigger things. w
'hen the end was reached, there was D.
reaction in sentiment. This ia ono
the penalties of extravaganza. %
The consumption of metals is still pa
)ntinuing on an unprecedented scale pc
nd bids fair to keep on doing so. The to
'ouble with prices is that too MANY ~
eople wanted naturally to share in
lie great profits that were being made
I'd therefore Increased tbo rroa,,o be
on. Conditions will be healthier in co
ways if prices recede to lower but wi
Ill profitable levels" -,
The people of the Occur d'Alene go
strict are in position to take a com ed
AGENT view of the situation So far or
lead is concerned, no new sources Of
supply have been discovered to wa
'er-burden the market and all in wi
cations point to a steady and strong su
mand, insuring price far above be-
at which was regarded as a good pr,