The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1919-01-23
Monthly Average Price Of Lead.

was really mistake, for the statistical
position of the metal was strong, and
asserting itself, the market advanced
rapidly. BY the middle of June there
was no doubt in the mind of anybody
respecting the stringency of the stua
ton At the request of the war in
dustries board lead producers com
m'ttec, under the Craftsmanship OF
Clinton H. Crane, was organized to
take charge of the business. However
the war industries board would not
permit the price to go above TX cents
New York. While there was no for
nal fixing of price, to all intents and
purposes there was. The only differ
cree between the situations in lead
ard copper was the absence of formal
hearings, agreements, etc, which made
II easier to negotiate notifications
when necessary. Indeed, one modifi-
cation became Immediately necessary
owing to the advance in freight rates
or July l, following which the price
for lead was raised to sos cents, New
York, compromising for the increase
in freight rate. That price prevailed
until December 20.
The only way of handling the bust
ness in the second half of 1918 was
t? put consumers practically on a ra-
ton basis and curtail non-essential
consumption so far as possible. The
producers put their output into the
hands of the committee, which receiv-
ell the orders from consumers and at
tended to the distribution, which was
rrorated among the producers. Earlier
IL the year there had been a strong
demand for lead from foreign quar-
tors Expectation was now practically
forbidden, except with respect to that
which was refined from Mexican bull
Ion. The bulk Of the latter was taken
by the British government in private
contract with the two principal pro-
ducers, and in the latter part of 1918
the whole of it was so taken The
British did very we'll on these con-
tracts, having made the larger one
VIXEN lead was at q very low price.
while they did not pay higher than
sos cents, New York, for anything.
With the signing of the armistice
on November II, the lead producers
found themselves in a better position
than the copper producers for they
had proportionally more orders on
their books, and also had good many
OF their old average-price contracts.
However, the cancellation of orders
caused lead to back up on the hands
OF manufacturers, and the producers
themselves received more or less can
cellations. Furthermore. the stock of
lead in the hands Of the government
was promptly seen to be a menace.
At the request Of the war industries
board, the committee Of lead producers
continued in service and for a few
weeks maintained its price at sos
cents. after which the price was re-
duced to 7.05 cents. Small business
was received at those prices from
random quarters where supplies hap
pened to be inadequate, but the total
of this business was only few hum
dred tons per week. Most of the lead
producers curtailed their production
Immediately after the armistlce. but
one Of them failed to do So This pro-
cuced technical reasons that compelled
dissolution Of the committee on De-
cember 20. and on the following day
lead was offered in tonnage at s cents,
and then 5N, 5k, and 5A cents. with
out developing any large business. The
largest producers reduced their ask
ing price to 8 cents, but did not follow
the market all the way down.