Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1917-09-21
Twenty-three and 0ne-haIf
Cents Is Figure Agreed Upon
Between Government and
Owners of Mines.
WAGES OF EMPLOYEES
NOT TO BE REDUCED
Uncle Sam Announces Purpose
to Seize Any Property Not.
Worked Vigorously by Those
Operating 1t.
Jsr MORNING JOURNAL SPECIAL LEASED wtss'

tBf MORNING JOURNAL SPECIAL LGAsEp WIRE
Washington, Sept. 20--Copper prices
Were fixed today at 2SA cents a
pound, about 8 cents below the pre-
vailing market, by agreement between
the government and leading copper
producers, effective for four monthg.
Sales to the government, the public
and the allies will be at this price, +.
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 spectators.
Although the price is fixed under
voluntary agreement between pro-
ducers and the governments war in
dustries board, with the presidents
approval, 1t was announced officially
that under the executive war power
the "prorer departments Of the gov.
ernment will be asked to take over
the mines and plants of any producers
who failed TO conform to the arrange
ment and price"
Purchases at New Rate.
Recent government purchases OF
copper for 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 sold at about 36 cents,
the government contracted for 45,-
600, 900 pounds for the army and navy
at 16 2-3 cents, but future contracts
will be made at the new rate.
The price agreed upon today was
set after extensive investigation of
production costs by the federal trade
commission. The commissions report
was understood to have indicated that
copper could be sold profitably at a
much lower price than 23 II cents, but
in reaching its decision the war in
dustries board, headed by Frank A.
Scott, took into consideration that the
price should not be pared down to the
point where production would be dis
couraged or wages reduced.
Conditions Imposed.
"Thrae Important conditions were
imposed by the board" said an an
nouncement. First, that the pro-
ducers would not reduce the wages
now being paid; second, that the op-
orators would sell to the allies and to
the public at the same price paid by
the government and take the neces-
sary measures, under ths direction OF
the war industries board, for the dis
tribution of copper, to prevent 1t from
falling into the hands of spectators
who would increase the price to the
public; and third, that the operators
pledged themselves to exert every ef-
fort to keep the production of copper
at the maximum so long as the war
lasts"
without the wage stipulation, 1t was
explained, present wages, the highest
ever paid in the copper Industry,
would be reduced by the new under
market price.
Producers Patriotic.
"Within the last year." said the
statement copper has sold as high
as 36 cents per pound and the market
price would now be higher than 1t Is
had it not been we'll known for 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, agree
ing to accept the price which the
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