The herald-advance. (Milbank, S.D.) 1890-1922, 1917-01-26
At Opening of HostiIities Industry
Used Nine Tenths of That
Produced.
1916 YIELDS $4,000 TONS
United States Now Able to Mine
400, GOO, COO Pounds a Year
Curtailmcnt Feared After
the War Ends.

ApW l0rk.-AathGfititS ON the cop
per trade estimate that Approximately
rs per coat Of the worlds present pro-
duction is being used for war purposes,
the remaining - per rent going into
commercial c0n.umpliye elianuelS as
before the war began. At the outbreak
Of hostilit.es, ii is estimated no more
than 10 per cont Of the copper pro-
duced by all the countries with lppos-
its Of the metal Ven into the manu-
factnre Of war material. The peace
ful trades used up 30 per cent, and
this proportion existed for several
years before the uphcayal in Europe.
These are significant figures, particu-
larry rs regards the market for copper
after the War ends. The United States
produced copper in the autumn
months at the annual rate of
2,iOo,o00,0oO pounds, compared with
about l,000,00O,OOD turned out III all
of 1916. Iii July, 1914, the mines and
reiineries of the country were turning
out the metal at the rate Of 100000
600 pounds yearly. From the begin
ming of the war To the present time.
then, production has been increased
1~OO,OOO,OOO pounds. This increase
alone is greater than the entire pro-
duction Of the rest of the world at
the present rate Of output.
With talk of peace in the air, it is
natural that copper producers and on
sumers alike should devote a great
tl4.t nf thh,4,1,t@ - ,yl,,t y,,.,. -,
when the treaty OF peace is signed.
With th~ree-quart"rs Of all the metal
Of the world going into munitions, il
IS plain enough that Il tremendous al
teration Of market and consumption
plans Will ON with peace. 1t is only
naturalist assume that prices will re-
fleet substantially the change of con-
dltioES, but copper men are not per
suadel that there Will be anything like
II slump. There will also be need for
i drastic curtnilment of production I'M
less peace demands should suddenly
expand to Il level offSetting the wal
demand, which experts in the trade
hardly expect.
Next Six Months Output Sold.
The sellers Of copper say they are
quite comfortable about conditions for
the first half Of this year. They have
reason to be SO. for practically all the
expected output has been sold, and
sold on firm" contracts-that is, com
tracts which call for delivery and pay
ment whatever may be the conditions
markctwise. If the war lasts beyond
July /, the copper companies main
tain, business must continue good for
the allied governments have 10 come
to the United States for their supplies
If they are To be adequate to the de-
mands of the armies. 1t is clear. there
fore, that the duration Of the conflict
is the vital factor In the copper trade,
not only rs regards consumption this
year. but 4 part of next year as well.
Copper prices after The war, in the
opinion Of Il leading seller, will not
be governed solely by the law Of sup
ply and demand as hinged on var op-
erations. They will be affected sub
stantially by the attitude Of the Amer
team producer toward foreign buyers
who come seeking the metal for com
mercial uses. 1t is estimated that Ger
many, Austria, Turkey and Serbia are
producing copper ut the rate Of lN,-
600. 600 pounds Il Year. all of which. and
more, is going into the war machine.
Such reports on conditions III the cen
tral powers as are available show that
these nations have raked and scraped
the countries over for I'LL copper i'm
plemcnts, which means that in the end
vast requirements Will need to be
made Of these supplies. The cop
Der cooking utensils for 100 years or
more; roofs of churches and dwelling
houses; electrical implements II rail
road and telegraph supplies have been
thrown into the melting pot. In 1913
Germany and Austria imported from
this country 800, 100000 pounds Of cop
per. and while a part q this probably
went into war reserves. much OF the
metal was bought fov manufacturing
purposes.
Curtailncnt Of Buying Expected.
These factors Of reduced supplies
and the known movement Of copper
into the central powers in times ct
peace load up to the part which Amer
lean producers will need to PLAY. \
great deal Of the requirements, doubt
less, Will have to be made in these
and other European countries, what
ever may be the cost. But it stands
to reason, as copper men see it, that
high prices and diflident selling meth
DDS will tend to curtail buying, espc-
cially IL the nations OF Europe hay
financial difficulties to solve. Ameri-
can copper interests are aware that
committees nave beer organized in sev-
eral countries Of Europe to devise ways
and means of caring for their needs
on an economical basis after the
war. These organizations, with GOV
eminent cooperation, obviously are
LAYING plans to buy their metal ut
prices favorable to themselves or to
restrain buying If prices are not salt
able.
With the thought in mind that gov
control is likely to be eX-
ercised for n long time over foreign