The Arizona copper camp., 1919-11-29


la bigger stock of refined copper on
hand at present than the world has
ever seen before, and that conditions
in the copper industry are in a
general way distinctly bad," with
no apparent relief in sight, were
statements made yesterday by Wal
ter Douglas, president of the Phelps
Dodge corporation, who was in Bis
bee with other officials of the cor
poration on regular trip of inspec.
ton to the Phelps-Dodge properties
lin the southwest.
"The outlook for the next few
months in the copper industry is
very, very dark" said Mr.. Douglas.
"The price has gone down to between
18 and 10 cents, with a bigger stock
of refined copper on hand than the
world has ever seen before
"The copper industry has depend
ed for so per cent of consumption on
the export trade, which is now prac-
tically dead, financial stringency and
the drop in exchange making it i'm
possible to export at ALL"
The delay in ratifcatfon OF the
peace treaty at Washington, Mr.
Douglas declares, is responsible for
delay in restoring the industrial equi.
librfu1n.
''1f we could roresee in any way
what the politicians are going to do
with the peace treaty, we could tell
when conditions in the copper indus
try will be bettered," said Mr.. Doug
las. Personally, the action OF the
senate in regard to the treaty matter
does not seem intelligent"
There is no doubt Of the tremen-
dous demand for copper on the part
OF the central powers, and that they
will be in the market for the metal
when peace is concluded, according
to Mr. Douglas. The problem, how.
ever, he points out, is question of
whether the central powers will he
able to pay, and how they viii pay.
"There are certainly no encourag-
ing indications in the copper situa-
tion at present" added Mr.. Douglas.
However, conditions change rapidly
SO it is hard to tell just what the
future may hold"
A wave of extravaganza is sweep
ing over the nation, Mr.. Douglas said,
which must be suppressed before, in
dustrial conditions get back to nor
NAL
That the apparent outbreak Of rad
icalism and 1. w. W.ism is merely
the recrudescence of long-existent
traitorous elements which have been
seeking the overthrow OF the Ameri-
can constitution and the American in.
stitutions which spring from it, is
the belief of Mr.. Douglas. The forces
of decency and good citizenship and
the forces striving to tear down de-
cency and good citizenship have now
been brought into sharp alignment,
which should have beneficial result
H in forcing the issue and causing the
overthrow of the disloyal forces. The
anti-radical campaign started by the
American legion, now assisted by the
United Americans, will be conclusive,
Mr.. Douglas believes.
Mr.. Douglas stated that the reso.
luton which he introduced at the
recent national mining congress in
st. Louis, regarding the situation in
Mexico, was a general resolution ask.
Ag the state department to take
cognizance of the great loss of life
in the mining profession in Mexico
in the last few years, causing great
injury to the mining industry. The
resolution pointed out that foreign
enterprise in Mexico consists largely
in mining and that loss of life
through banditry has constituted a
'lgfeat drawback to this enterprise.
| The resolution was in all particu-