The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1919-05-15


N yer and the lifting of the
embargo on the expectation Of
the metal was Immediately followed
by sharp advances in the price, a
situation that has operated greatly to
the advantage Of Occur d'Alene mines.
The advantage came at a most op-
perfume time, as the continued stag
nation in the lead market and the low
price have reduced the profits of some
OF the mines to d narrow margin
which made the question of continu-
ing operation so far as profits are
concerned almost a matter of indif-
ference. The advance in the price OF
silver, and the prospect that 1t will go
still higher, came as a most cheering
feature to an otherwise unsatisfactory
situation. Silver has always been an
important factor in the lead mining
industry of the district. Last year the
production was over 100000 ounces.
In 1917 the production was nearly H.
100000 ounces, and the preceding
year it was almost as much. To ap-
preciate the importance of the in
creased price, it is only necessary to
recall the average prices OF silver
during the past few years and apply
the difference to the large production
In 1913, the year Germany started the
war; the average price of silver was
59.79 cents per ounce. In 1914 it was
54s1; in 1915 it fell to 1896, the low
est price in 25 years. In 1916 the ef-
fects of the war were reflected In the
advance of the average price to $3.50
cents per ounce. In 1917 a furtner
advance was recorded, the price go
ing to S1.41, and in 1918 it reached
the high average Of 96.77 cents
Predictions generally incline to fur
ther high prices, although 1t Is noted
that Yesterday and day before there
was marked reaction, the price
dropping from $1.19k back to $1.1l.
These fluctuations are to be expected,
since for the present at least the
heavy demand for silver seems to be
in the orient and some time Will ne
required to determine how strong 1t
will be. Here is the view of the Bos-
ton News Bureau on the silver situa-
ton:
"Although the lifting of the export
ban on silver, along with other recent
dec,sions of government departments
makes the market an open one anu
nresupposes a pronounced advance in
nrice of silver under prevailing con-
ditions bullion dealers refrain from
committing themselves as regaros
Immediate future Of the silver mar
ket They say it is too early to pre-
dict what sort of advance VIII take
n,ace as there are many factors 10
he considered which are not dlscloseo
at the moment Everything depends
on London and the far east, and our
nrices will hinge on silver marhe'S
there. London prices will demon :
strate the urgency of the worlds SILL
yer demand"
The lead mines are not the only
ones in the Occur d'Alene district
that proft by the high price OF silver
National stockholders are feeling III
fine spirits over the advance also
National ore runs about IN per cen'
conner and 4 ounces in silver. Ihe
fall of copper from it's high estate
during the war was hard blow al
National, but the high price OF silver
has made the prospect much more
cheering. In fact it is pointed ou'
that the increased price of silver mas
OFFSET the decrease in the price OF thf
copper, and at this time the company
is in position to earn supstantia
; profit. The change in the situa'ioi
may induce the management 10 tah'
ND further development in the uppel
levels where the best silver values
are found. The company expects y