Arizona republican., 1919-02-15

imports of new stocks. In the domestic market manufactur- ing industry finds itself suddenly out off from its business on account or the cancellation of the munitions programs. The renewal of peace industry takes time to bring about, and gap In the business is the result.
 Face Great Loss The combination of the cessation of export trade and the interval required to turn war industries into peace in- | dustries has brought about declining 1 prices in copper as we'll as other com- modities, and while prices are falling, | buyers lack courage to purchase. This is a summing up of the condi- | tions which have brought about the existing situation, but the present and | future interests us even more than the past.
 No market since armistice was
 signed Sales for last 75 days don't amount to per cent of output.
 Copper stocks on hand at mill,
 shelter, in transit and at refineries
 about 1000. .000, 900 pounds, represent
 ing over s175,000,000 tied up in stocks.
 The seriousness of this surplus stock
 of 1000, 900, 900 pounds of copper is the
 fact that it was all produced on the
 maximum basis of cost, with the eX-
 pectation of realizing 26 cents per
 pound.
 For every cent jess than 26 cents the
 producers will lose S10, 900, 000 so that
 IS cent copper means a loss of $S0, ,00o,-
 900 which is very serious factor of
 demoralization, apart from practically
 no sales for the last 90 days and little
 in sight.
 Stagnstion in Market
 Stagnation expresses the market
 condition today.
 Copper production in 1918 average
 200, ,000, 900 pounds per month or about
 2,50o, 900, 900 pounds for the year,
 against a pre-war production of 1,500,-
 100000 pounds.
 Normal consumption before the war
 about 125, ,000, 900 pounds per month di-
 vided nearly equal between home and
 export trade, the larger being the ex-
 port 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 :. l50, ,000,0 GOO pounds per month, but we
 can hardly expect the sales to warrant production of 100000, 900 pounds per i month as during the destructive con , sumption of the war.
 The advantages in operations in the . near future will be confined to the
 more favored operations of low cost
 producers with modern equipments. The following resolutions were ! adopted at the conference: Q Resolutions Adopted Whereas, The copper industry is 2 now confronted with the most critica 2 situation in it's history because of al | nf in eft trrl d for which there is no market a n present;
 And Whereas, The department O e labor, realizing it's existing condition s that are causing a radical reduction il if working forces by the various com = panies that entails hardship and dis .- satisfaction has offered its services il
 trying to find a solution for the prob V, lens:
 And Whereas, Eugene Meyer. Jr ', chairman of the war finance fund, ha l. assisted in many ways in helping t IS bring about a readjustment of condi e tions, and in persuading the variou ,e government departments to hold tn l. copper now owned by them instead o al dumping it and causing a furthe l.. demoraliZation of the market;
 And Whereas, James Lord, presiden
 of the mining department of the Amer ,e ican Federation of Labor has worke l. tirelessly to help solve the many prob l. lens that confront us; ls Be it Resolved, That this conferenc IS of men from the mining industry fror ;- Arizona. Montana and Utah expres " our appreciation to secreary of Labo m MT. Wilson, and his associates in tn E. department of labor for the valuabl st advice and cooperation they hay In l. Be it further resolved, That we eX ,i tend to Eugene Meyer, Jr., and Jame l, Lord our sincere appreciation fo r. their efforts in behalf of the men i e. the copper industry.
 le Would Aid Foreign Credit ts Be it further resolved. That we ure to the officials of the department of labC le to continue their efforts to bring abol ,n conferences with the employers ths lg all those interested may co-operat es in preserving industrial peace and It. solving the big problems of getting tt ht industry on a peace basis. SO Whereas, The copper industry at peace times has always depended upo n export trade for over half it's product CT and
 to Whereas, It appears upon reliab a- authority that foreign countries hal
 great difficulty at the present time ce financing purchases of the product at Of our country; and
 ed Whereas, We deem it to the best il e. terest of labor and industry in tn ,y country to help to remedy this ten ln porary breakdown of the machinery g. international trade,
 ry Be it resolved, That this meeting Of representatives of the labor of u CT copper industry do urge and recon
 mend that congress pass such legi
 lation authorizing government aid ; he will furnish the necessary long ter
 credits to facilitate the resumption Ile our export trade iu raw material UT agricultural products and manufa ch tured goods.
 he Mir. Lord, the government mediat ed mentioned in the statement of MT. M
 CIuskey, is in the city and will prol es ably accompany him to Jerome in tl m hope that the situation there may nd saved. It was not generally know on that there was trouble in the Glob ed Miami district, but that was adjust
 by telephone on Thursday night b of tween Mir McCluskey and the men. to MT. McClusky said last night regar he ing a rumor of impending trouble 100 Bisbee that he had just been In tel nc phonic communication with Bisbee al ale the situation there was all right; the ne would be no strike. None is looked IT, at Clifton and Morenci, and, as h it. been stated. such differences as h on arisen at Globe and Miami had be aly cleared up.
 D. Altogether, said Mr. McClusky t Ice situation so far as it affects labor als much brighter than it has been -n- some time. He feel sure that the tro ng ble may be confined to Jerome and
 e. III