The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1919-06-19
IMPROVE EMENT IN
METAL SITUATION
Better Demand for
Lead, Zinc and
Copper
PRICES MOVE UPWARD
Shortage of Labor May Soon
be Only Obstacle to Nor
NAL Conditions
-HE METAL situation Is improv-


ing steadily and so far as the
Occur d'Alene district Is con-
= cerned. If labor troubles can be
avoided, the way seems clear for an
early return to prosperous conditions.
Silver is on a firm basis, and While
the price may not reach the high
points predicted by some authorities,
there can be no doubt that it will re-
main at the present level or better.
Lead is gaining ground steadily, due
no doubt to the gradual reduction OF
the surplus through increased buying
induced by the gradual resumption OF
building and improvements. The cur
tailment of output by the big lead pro-
ducers has had it's effect in bringing
about this more healthy condition OF
the lead market, and as labor becomes
available we may reasonably look Tor
ward to a restoration of normal pro-
duction with a market that will read
ily absorb the output. Zinc is not as
favorably situated as lead, but in this
also the situation is improving. The
price has advanced during the past
week in response to increased demand
and il Is believed that the tendency
will continue upward until western
. producers now idle will see prof1t IN
resumption. The outlook for copper
grows better every day, and II the
present rate of advance continues 1t
nf short time
when the big producers will be en-
abled to resume normal output II Ia
bor difficulties do not interfere he
viewing the metal markets for the
week ending June II, the Engineering
and Mining Journal says:
Silver.
"The silver market has steadied It
self at about $1.09. Our London ao-
vices are that the Indian government
will not buy silver at any price TOT
the present and does not propose 10
raise the embargo on imports or SILVER
into India. The silver question is pc
ing carefully considered in London,
and strong efforts to check any tur-
ther advance in price will surely De
made.
"The demand for lead in the middle
west has been such that for some time
the interior market has been out OF
Joint with New York, where some IL
ouidation of speculative lead was De-
ing made. Up to June some cheap
lead was still to be had in this mar
ket, but with June all such offerings
disappeared and consumers VINO re-
ouired some round lots had to pay the
full price of 5.25c. Beginning Win
June some large buying developed
in the st. Louis market, while western
nroducers made sales for delivery at
various places in the interior at prices
considerable above the New YORK par
itv following which some producers
advanced their prices in New YORK. on
Tune II. 5.4Oc was realized in the 1ore-
noon and Immediately afterWard the
American Smelling and Refining COM
pany advanced it's price to 5.4oc' ims
advance brought the New YORK mar
ket more nearly into line with 81
Louis.
Zinc.
.The market advanced sharply from
day to day on rather large business
which appeared to be mainly OF
snaculatiye character. The nature OF
the market was such that consider
able irregularity was exhibited.
Copper.
"The market was excited rish
from the beginning of the week ana al
vanced not only from day to day, pu
also from morning to afternoon
the beginning Of June 5, the marke
vas IN the basis of 166Oc, but by tn
end of the day it was firmly estaphsn
al at 1s 70c. Considerable speculative
buving began to be done, and Engiah'
was reported reselling contracts, he
nrice being lower than ours. on Iues
day the market became pretty steau'
on the basis Of 17.35c. a rather iars
business being transacted, and beror
the end of the day 1760c or 17Ac' oe
liyared. was asked and received ~
some small quantities, but with Jun
II the market could be called es'ao
lished on that basis.
''The aggregate OF business ooli
during the week was fairly large, pu
in no way sensational. However, pro
ducers found it easy to advance the'
prices on relatively small business
wire drawers were buyers but con
siderable part Of the business OF IN