Omaha daily bee., 1917-09-21
D. S. FIX aIcE
!. OF COPPER AT 23s
! CENTS A POUND
Under New Agreement Wages
; Remain Same; Public to Pay
Same as Government
A. and Allies. ...
By Associated Press.)


Washington, Sept. 20.-Copper
prices were hved today at 23H cents
pound, about cents below the pre-
vailing market by agreement between
the government and leading copper
producers, effective for four months.
Sales to the government, the public
and the allies will be at this price, f.
o. b. New York and producers agreed
not to reduce wages now paid in the
industry. They also pledged them
selves to maintain maximum produc-
ton and to prevent copper from fall
ing into the hands of specultors.
Take Over Noncompliers.
Although the price is fixed under
voluntary agreement between pro-
ducers and the governments war in
dustries board, with the presidents
approval, it was announced officially
that under the executives war power,
"the proper departments of the gov
eminent will be asked to take over
the mines and plants of any producers
who fail to conform to the agreement
and prices"
Recent government purchases of
copper Tor war purposes have been
made under agreement to pay the
price to be determined by the war in
dustries board. Early in the war
when copper soldrat about Sc cents
the government contracted for 45,000,-
900 pounds for the army and navy at
1928 cents, but future contracts will
be at the new rate. ,,.
The price agreed upon today was
set after extensive investigation of
production costs by the federal trade
commission. The commissions re-
port was understood to have indicated
that copper could be sold prohtably
at much lower prices than 23H
cents, but in reaching its decision the
was industries board. headed by
Frank A. Scott, took into considera-
tion that the price should not be
pared down to, a point where pro-
duction would be discouraged or
wages reduced. ."
Same Price to Public. \
Three important conditions were
imposed by the board,' said an an
nouncement. First, that the produce
ers would not reduce the, wages now
being paid; second, that the operators
would sell to the allies and to the pub
lie at the same price paid by the gov
ernment and take the necessary meas
ures, under the direction of the war
industries board, for the distribution
of copper, to prevent it from falling
into the hands of spectators who
would increase the price to the pub
lic;, and, third, that the operators
pledge themselves to exert every eff
fort to keep the production of copper
at the maximum SO long as the war
lasts" {.
Without the wage stipulation, it
was explained, present wages, the
highest ever paid in the copper in
dustry, would be reduced by the new
under-market price.
Anticipated Price Fixing.
within the last year." said the
statement, copper has sold as high as
Sc cents per pound and the market
price would now be higher than it is
had it not been we'll known for some
weeks that the government would fix
the price.
"The principal copper producers
throughout the country have evinced
an admirable spirit and for weeks
have promptly supplied every request
of the government for, copper without
awaiting decision as to price and
agreeing to accept the price which
the board should ultimately fix"