The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1920-06-03
THE LEAD SITUATION
OUTLOOK FAVORABLE
Mining and Market
ing Conditions
Improve
SlLVER'S STABLE PRICE
Industrial Conditions in Other
Lead Producing Lands
Decidedly Bad
"HE PRESENT condition of the

"HE PRESENT condition of the
metal market and the outlook
for continued strong demand
are decidedly favorable to the
Occur d'Alene lead and silver produc-
ars. In spite OF labor and transporta-
ton difficulties the situation in the
United States is far better than in
other countries in which lead mining
is an important industry, and the in
ldications are that this advantageous
: position will be maintained for a long
time The mines Of this district are
still hampered to some extent by la
Dor shortage and inefiiciency, but
there are evidences that the situation
is steadily improving and that before
the summer is over maximum produc-
ton will be reached In spite of these
handicaps the Bunker Hill smelter
manages to keep two furnaces going.
and as a means of overcoming de-
lays in delivery, the smelter is max
ing pig lead shipmnts by special trains
to the Atlantic coast. However, the
transportation difficulties are getting
better and it is believed that the next
few weeks will find all difficulties in
the way of prompt delivery removed.
Price of Silver.
The rapid decline in the price of sill
yer during the past few weeks, while
disconcerting for time now no long
er appears to be a cause for anxiety.
The slump in the price is understood
to have been preciptated by the tenn
porary cessation of the demand for
silver from oriental countries. This
demand is bound to come back, when
an advance in the price of the metal
may again be expected. In the mean
time the government, carrying out
the provisions of the Pittman act, has
announced its purpose to purchase all
silver offered at 81 per ounce provid-
ed that it is produced in the United
States. This establishes the minimum
price and is sufficient to encourage
the production of silver particularly
in view of the fact that foreign de-
mand is reasonably certain to send it
higher.
The Lead Situation.
The Engineering and Mining Jour
nal of May % has the following inter
estng review Of the lead market:
THE lead situation, in spite of the
recent drop in price of lead, may be
said to occupy a favorable position,
especially when comparison is made
with the situation in the metal during
1919. 1t was in April of that year that
lead began to advance in price at an
unusually steady rate. Starting at a
little less than sc per pound New
York; the price rose in II months to
its recent high level of over &c. How
ever this advance was broken last
month (ApriD the average price
dropping to S.9O2c per pound, and mi
tiating the only notable recession for
over a year. The present New York
price of $500 is about equivalent to
prices ruling in midwinter. The de-
cline is chiefly attributed to trans
portation difficulties.
"COntrasted to the situation in cop
per. the lead market has exhibited
that trading in the red metal
has not shown. Lead production was
Immediately curtailed after the arm
lHlAIti do ASctA 10 AoA ~ NooNAAiuA a
metal to reconstruction as copper, and
the lead market was not affected by
the speculative buying that character
lied purchases of copper in the spring
Of last year, which helped to send cop
per to a peak above pc per pound. As
with copper it was domestic buying
that first lent strength to the lead
market which was supplemented by
unlocked for European support in the
form of a demand for American lead.
Lead in Other Nations.
ITO understand the important ele-
ments in the lead situation today it is
to appreciate the condition
of the worlds chief lead producing ma
lions The United States far out
strips any other nation in lead pro-
duction, normally supplying about As
per cent of the worlds lead. The 9TH
err important producing countries such
as Germany Spain, Australia and
Mexico occupy subordinate role.
Their combined lead production in
normal times is equivalent to about
90 per cent Of that of the United
States.
Germany is normally the second
larges producer and consumer of lead.
Augmenting her own production to