Arizona republican., 1917-02-25


natural saline deposits elsewhere are
now just beginning to make import
ant contributions. The figures for
potash derived from alanite of which
there is only one important producer
are combined with these for available
potash in cement-kiln. flue dust
greensand, and fledspar recoveres,
in order not to disclose figures given
in confidence, These do not include
considerable quantity of feldspar
said to have been mined and pre-
pared for possible use for the sake
of the potash it contains.
The production of potash from or
ganic sources is about half that
from mineral sources. The recovery
Of potash from pearlash is an old
established industry. A great deal
of publicity has attended the efforts
TO obtain potash from kelp but a sim
liar organic source of high-grad
potash salts has been quietly de-
veloped, which has proved more pro-
ductive. indeed, the reported pro-
duction OF a single establishment
outranked the entire product OF pot
ash from kelp plants.
Copper and Silver
Regarding the outlook for the year
for copper and silver. the weekly
market letter OF Chas A. Stoneham
and company says:
With every fundamental condition
warranting hugh bull market in the
metal shares, the market Is held in
leash by the international situation
Opinion is unanimous that the pres
ent dun market is due TO uncertainty
ard that any one of the three posi-
bilities eventuating. war. prepared .
=
of sentiment that would allow full
play of the strong factors that should
| normally influence the market up
ward.
The metal situation during the
week has perceptibly frightened. Cop
per prices are again ing upward
A sale Of SPOT metal mas been made
at 81 cents pound. and March cop
| per for export is bringing So cents
pound. Nor are conditions any less
strong for the metal Cor delivery
| during the latter half of the year.
I Third-quarter metal is being con-
tracted for at BIZ cents pound.
/ with fourth quarter metal selling at
only a fraction under these figures.
/ Domestic manufacturers are palpabIy
! getting nervous over the tightening
/ OF the copper metal situation. as
! evidenced by the rising tide of orders
/ for copper for delivery during the
/ latter six months OF the year II
| is now estimated that close to 20
/ per cent Of the 1917 output is under
/ contract, and that every pound OF il
/ viii be taken, no matter how the in
/ ternational situation develops IN
| some quarters it is figured that spot
copper will command upward Of a.
cents pound. lhe predictions being
| on an estimated demand for about
| 100,0O0,000 pounds monthly. during
the last six months of the year. aboy {
the refinery capacity Of the country
II is now practically certain that. OF
the business already placed with the
| large producers. the earnings Of these
| companies for 1917 are going tc
| break the 1916 spectacular record
/ Whether dividends will be further in
creased is open to question. but ever
If the distribution of these profit,
is not made. there will be Just Sc
much more equity for the shares il
the accumulated surplus. as to war
rant higher prices. Il NAV be pointed
out. in this connection, that. consider,
ing the position of many of the COP
per producers. more particularly tn,
porphyries. which, reduced to the las
analysis. are row nothing more thar
large manufacturing organizations tn,
yield on the Investment at Drevailinl
prices, IS ahnormally large. and We
these companies are distributing, 70
me most part. less than 30 per cen