El Paso herald. (El Paso, Tex.) 1901-1931, 1919-05-29
COPPER is COMING BACK AND MINES
OF THE SOUTHWEST ARE REVIVING

IN DAYS Of oil excitement the southwest must not
look the fact that the duh days Of copper passing
mines back at fu production This is important Oil Is
big revenue producer in Texas and in New Mexico
and Arizona there thousands Of oil investors More
over many sections Of both states oil Development IS
being undertaken But copper the nanstay Of the south
Il is largest most productive industry It de-
vslops wealth, employs more men IS the means o.
than any other industry we have.
Conner has been down for months. It slumped when
the liked plce o. about 70 cents vas taAsn u supply
and demand did not serve 70 keep up the pee because
there oversuppy. The market was glutted with
copper Every agency in this country had more than It
could dispose Of The large mines N Arizona and New
Mexico had more than they could unload Too much SUI
plus capital tied up in commodity tor winch there
was practically no sale Therefore the industry sumped
len had to discharged and at Of the properties
those wormen who retained obliged to accept
wage reductions Some Of the mines suspended Produc-
ton entirely and kept only enough men to man the pumps
ana prevent the plants from deteorang during dlenes
Others kept producing copper mainly to keep their
men employed, but made It as little as possible
Copper is coming back The companies are hardly
announcing the fact possibly being appreheusive Of ap
pearng optimistic, but the trend is plainly evident
Those mines whose contains silver value-and
there are many suceIe quick to feel the stimulus OF
soaring silver market and they began enlaTging their
working forces in order to get out more ore Then the
market demand for copper revived and sales increased
best copper producers have received since the
fixed prce was taken off is contained in announcement
from the New York metal exchange that reports so Tar
received this month indicate the sale Of about 100000
into the reserve supply 70 extent. million pounds
Of copper is Of course almost copper at al when com
pared with the couutrys vast supply, but It shows how
ffe market IS shaping itself Moreover, the domestic and
foreign demand Is increasing the latter especially lhe
Gay hand when great deal Of copper VII have 70
be supplied France and Belgium for reconstruction pa
poses Rebuilding is already under way In those coun-
tres Much larger sales Of copper expected IN june
thar haze been made this month.
By degrees copper prices have worked up to l6z and
1861 cents pound and they firm That IS indicative
Of sound market and with a tendency 2 advance
1t looks now though the metal should 60 70 20 cents
pound IN the near future All the larger producers, those
operating economically make little money on 20 cent
couper It would be unvise however TO rush production
merely on the strength Of rise to that figure The min
w COMPANIES doubtless VIII find it advisable to hold OF
little until the sales Of metal hav cut more deeply INTO
the reserve stocks Otherwise the market soon would be
v-aped again But if the metal movement continues as
at present and if It increases in the way now seems
hound to 90 two months ought to see the mining
companies working fun forces at production and the smell
tiers correspondingy busy That VIII add very great zeal
TO The prosperity of the southwest, although, as matter
of fact the general business in the southwest has been so
1000 that the copper slump has been felt less keeny than
snticipated While many thousands of men were leTt
bot employment VIXEN the mines curtailed production
he must have been absorbed other occupations Tor