The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1919-04-24
Bureau of Mines Reviews Situation in
Copper, Silver, Lead and Zinc

The brueau Of mines has issued q
brief report giving the result OF its
investigation of the metal situation
both at home and abroad. That Sec
ton of the report dealing with cop
per. silver, lead and zinc is given be-
low:
Copper.
A somewhat more hopeful tone pre-
vailed in the copper market during the
closing days of March. Steadily de-
clining prices for the metal had ruled
since the first of the year. Producers
were apparently seeking price level
which would attract consumers. Some
sales were reported as low as 1412
cents but Is cents was the ruling fig
ure. At these prices a moderate DOM
cstic demand became manifest. with
export business at low ebb and the
mines still running at heavy rate Of
production, it is apparent that a
large domestic demand must be Gre
ated to avoid adding extensively to
the great stocks Of copper which ex-
list.
individuals who accompanied the
members of the Copper Export asso-
citation in their survey of the Euro
pean markets hold forth little prom
Use of an early and considerable de-
mand from that source. The English,
French aid Italian governments are
reported to hold considerable stocks of
the metal said to aggregate in the
neighborhood of 400,000,000 pounds.
Germany is believed in many quarters
to be stripped of copper. without in
dustrial activity in Europe, which IN
turn implies cessation Of class war
fare and a general restoration to peace
conditions, there can, however, be no
extensive demand for the metal.
The disposition of the United States
governments stocks Of copper and
copper scrap, aggregating over lOr,-
100000 pounds has now been an
nounced. The United Metals Selling
company will sell on a commission
basis not less than 100000 pounds
monthly for 10 months and double the
quantity thereafter and up to the
limit of the salable stocks
Ten representative domestic Mines
which in October, 1918, produced 3d.
900, 900 pounds of "copper" reported an
output of 100000 pounds in Febru-
ary, 1919. Curtailment over this per-
iod was consequently at the rate or
IS per cent.
No late estimate of domestic cop
per stocks is available. They are un-
deniably large and the reported stocks
exceeding 1000, OO0,O 900 pounds as of
the first of the year, have prooably
been added to.
There have been no recent out
standing developments in the 'aoor
situation Curtailment of output o.
viously implies a reduction IN the
number Of operatives and under eX-
listing conditions better efficiency Oh
the part of labor is reported. Many
companies in order to hold their crews
together in anticipation of future ae-
mands for the metal are carrying or
extensive development and works ~
improvement--both of which were N
measure unavoidably neglected I'M
der war conditions.
With prevailing quotations for cop
per and under existing prices OF Ia
Dor and supplies, many of the less
favored companies are either opefat'
ing at a considerable loss or else hav'
shut down, others have no margin o
profit. This in spite of recent wag'
reductions and reported increased ct
ficiency Of labor.
Silver.
The demand for silver in India ant
China continues. This taken IN coll
junction with the repurchasing ooii
cations of the United States govern
ment created under the Pittman Dill
make the immediate future for silVe
particularly hopeful.
Curtailment of output at cope
and lead mines is having a pronounc
ed effect on the domestic productio
of silver.
Lead.
The suspension Of some OF the lea
smelters and the curtailment OF IN
operations of the remainder early
the year seem to have estapishe
equilibrium and the market seem
rather stable at the American Smei'
ing & Refining company price OF
cents at East st. Louis
Shelters at Monterey, Mexico, nav
curtailed operations. Their refusal
recognize the London price during tn
temporary boom following release
lead from government restriction
resulted in the closing Of many mine
and consequent reduction of their o"
operations.
Mine operators Of the Occur dAlef
district of Idaho have announced
reduction in wages of 81 per ia
starting March 1s. The announc'
ment says: Lead Is now selling
s5.25 per hundred pounds (New York
which calls for rs cents bonus. D
operators, owing to living COSTS !"