The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1919-02-13

tut every Ctiil less IMAM 20 cents
the producers will lose $4,000 900, so
that 1S-cent copper means "a loss of
$50, 100000, which is a very serious
factor of decentralization apart from
practically no sales for the last 80
days and little in sight.
Stagnation of Market.
"Stagnation expresses the market
condition today.
Copper production in 1918 averaged
200, 100000 pounds per month. or about
$500, 100000 pounds for the year
against pre-war production of L.,
500, 100000 pounds.
Normal consumption before the
war, about 125,000,000 pounds per
month, divided nearly equally between
home and export trade-the larger be-
ing the export trade.
when peace is proclaimed and the
necessary foreign credits are estab-
lished in this country to finance for
eign sales, the normal sales may be
recovered and even exceeded to, say,
$50, 100000 pounds per month, but we
can hardly expect the sales to warrant
production of 200,000,000 pounds per
month, as during the destructive con-
sumption of the war.
'1The advantage in operations in
the near future will be confined to the
more favored operations of low-cost
products with modern equipments.
1.-The problem now before us is 'how
best to safeguard the industry to in
sure continued operations and a living
wage.
1.-The terms of the various sliding
scales automatically regulate wages
according to the market price.
No Sales.
Current wages for January, 1919
on the terms of the sliding scale. are
paid on basis Of 80 to 43 cent copper
although the December market price
for copper was 26 cents, as fixed by
the war industries board-but no sales
Wages are, therefore. so to Is cents
higher on the war basis than they
would have been on a peace basis ac-
cording to the sliding scale.
THE absence of any market neces-
states reduced production
'"Only the most favored conditions
could continue operation on the 49,
cent copper at present cost. and then
only if a market can be found for pro-
duction, as all have reached the limit
of their ability in carrying surplus
stocks.
Both producing and consuming
Representatives of the industry are
strenuously endeavoring to improve
the immediate market for their pro-
duction. They are receiving the
Iiheartiest cooperation of Secretary
Wilson of the department of labor,
Secretary Redfield of the department
of commerce, Secretary Lane of the
department of the interior, Secretary
Glass of the treasury department and
Eugene Meyer, jr., managing director
of the war finance corporation
Secretary Baker and Secretary
Daniels are being asked to Operate
with the industry in the handling OF
the government supplies of copper and
scrap copper and brass
ut must be realized that the end
of the war destroyed the principal
consuming market. The building up
of the peace market is being pushed
as rapidly as possible, but necessarily
requires a little time.
"A clear understanding of the eX-
listing conditions which is difficult on
all Sides will, it is hoped, furnish a
basis for mutual understanding.
ION the signing of the armistice, the
following conditions existed:
81. The copper producers had very
little copper sold ahead, as the needs
of our government and Of the allies,
which were taking close to 90 per cent
Of the entire production, were being
supplied monthly as required.
49, At the request of the war in
dustries board the mines continued to
run from the middle of November
until the end of the year at fairly
high production in order to keep the
labor employed awaiting develop
ments.
"3. There now exists an unsold
stock of copper in process from the
mine to the refinery or in finished
form at the refinery of approximately
1 ,OOO, 900, 900 pounds. This copper, 1t
must be borne in mind, has been pro-
duced on a basis for wages of a 26-
cent price and none of it has been
marketed or can be marketed at that
price or anywhere near It.
Copper in France.
a. A stock of copper is found tc
, be ON hand in France, England and
, Italy which, while small for war con
: sumption, is a considerable amount II
: peace times Large amounts of scral
metals are for sale in connection witt
the cancellation of munitions manu-
l featuring programs
! as. Foreign governments, HAVING
Y purchased their copper at % to q
;, cents, are renarketing under govern
\ ment control the stocks bought a
: those prices, and meanwhile are dis
O oo,ro o;ro apd IN eona cases prOhibit