Iron County news. [volume] (Hurley, Wis.) 1913-1950, 1917-02-03
At Opening of HostiIities Industry
Used Nine Tenths of That
Produced.
1916 YIELDS $4,000 TONS
United States Now Able to Mine
1900 100000 Pounds a Year
Curtaiment Feared After
the War Ends.

the remaining 20 per cent gong INTO
commercial consumptiye channels as
before the war began. At the outbreak
Of hostilties, 1t is estimated no more
than 10 per cent OF the copper pro-
duced by all the countries with depos-
its of the metal went into the manu-
facture of war material. The peace
full trades used up 90 per cent and
his proportion existed for several
years before the upheayal in Europe.
These are significant figures, particu-
larry as regards the market for copper
after the war ends. The United States
produced copper ia the autumn
months at the annual rate of
2,4O00O0,000 pounds, compared with
about 1,9O0,000000 turned out In all
of 1916. In July, 1914, the mines and
refneries of the country were turning
out the metal at the rate of l 100000
900 pounds yearly. From the begin
ming of the war to the present time,
then, production has been increased
7OOOOOOOO pounds. This increase
alone Is greater than the entire pro-
the present rate of output.
With talk of peace In the mir, 1t is
natural that copper producers and CON
sumers alike should devote great
deal of thought to what may come
when the treaty of peace is signed.
With three-quarters of all the metal
of the world going into munitions, 1t
Is plain enough that a tremendous al
teratiOn of market and consumption
plans will come with peace. 1t is only
natural to assume that prices will re-
fleet substantially the change Of con
ditons, but copper men are not per
suaded that there will be anything like
q slump. There will also be need for
drastic curtailment of production I'M
less peace demands should suddenly
expand to "A level offsetting the war
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
veason to be So for practically all the
expected output has been sold, and
sold on firm" contracts-that is, cotf
tracts which call for delivery and pay
meut whatever may be the conditions
marketwise. If the war lasts beyond
July !, the copper companies main
taln, business must continue good for
the allied governments have to come
to the United States for their supplies
i If they are to he 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 as regards consumption this
gear, but part of next year as well.
Copper prices after the war in the
opinion OF leading seller, will not
be governed solely by the law of sup
ply and demand as hinged on war OPP
srauons. They win be affected sub
/ @tantially by the attitude Of the Amer
Sean producer toward foreign buyers
who come seeking the metal for com
herCial uses II is estimated that Ger
many, Austria. Turkey and Serbia are
| producing copper at the rate of 100
100000 pounds year, all of which, and
more. is going into the war machine.
! Such reports on conditions In the cen
trail powers as are available show that
/ these nations have raked and Scraped
/ the countries over for all copper i'm
/ Elements, which means that in the end
/ vast requirements will need to be
/ made of these supplies. The cop
per cooking utensils for 100 years or
| more; roofs of churches and dwelling
/ houses electrical implements and rail
( road and telegraph supplies have been
/ thrown into The melting pot. In 1913
/ Germany and Austria imported from
| this country 500,oo00O0 pounds of cop
per and while part of this probably
| went into war reserves. much of the
metal was bought for manufacturing
purposes.
Curtsilment of Buying Expected.
These factors of reduced supplies
aud the known movement Of copper
into the central powers in times of
peace lead up to the part which Amer
lean producers win need to play. A
great deal Of the replacementS doubt
less, will have To be made Ia these
aud other European countries. what
ever may be the cost. Bat il stands
10 reason, as copper meu see IL. that
high prices and djb6ent selling meth.
ODDS will tend 10 euslaj buying. esp.
cially If the nations of Europe have
financial difficulties to solve. Amert-
can copper Interests are aware that
committees have heen oreatI2ed in Sev-
eral countries of Europe 10 devise ways
and means of caring for their needs
en- an economical basis after the
war These organizations. with gov
eminent cooperation, obviously are
laNns plans 10 buy their metal at
prices favorable to themselves or To-
restrain buying if prices are not suit
able.
With th" Thought IN mjud that GOV
'rnmenf c"utro IS Hkc,y to be TX
'rc.sed fol long timc over foreign
purchases. il is plata vnr prominent