The copper era and Morenci leader., 1921-11-11
R;:||E|-0PEN|NG0F .M|NEs.L.|...QQKED N 1. EUR Fl R SOON.

-ff -
 The copper market is improving right along." declared General M,r- ager Thomas H. O'Brien of the In spiration Consolidated Copper com pany, in the course of an interyiew with the Miami Bulletin on his return from trip to France. Belgium. part of Germany and England, on which he was accompanied by P. G. Beckett the Phelps Dodge executive.
 There should be an increase in the price of the metal he said. s.but no decision has been reached as to when the copper mines can reopen All hope, however, that the date is not very far ahead"
 The impression we gained in every country we visited is that the bottom or the depression in business was reached some time ago and that there will be gradual improvement from now on. No one, however, exepects 1t to be very rapid" the general man ager added.
 France Recovering
 MT O'Brien spoke interestingiy on conditions in the countries visited bv MT. Beckett and: himself. France and Belgium, he said. are recovering from the effects of the war and everyone outside of skilled mechanics is work ing There are some idle men in that line In Germany everyone is work Ing, men, women and children. Ger. many appears to be very prosperous Tn the mechanical line and while the wages are exceedingly small for skin ed laborers they seem to be getting enough to eat and enough clothes to wear. The skilled lahorer earns from 4o to 50 mares per day, which at to- days rate Of exchange, equal % cents me occurance of great drouth in all countries of western Europe and the practiced failure of all crops ex- ceDt wheat, however, is calculated to bring on some distress. .l.l $,
 The problem of foreign exebapse is viewed by MT. O'Brien as having an extremely. important bearing on the copper outlook. In England. business conditions are very bad due to the fact that the prosperity of. the country depends on the export trade and in normal times one third of the people are engaged sin that fine. At the present time they, have. no ax- port trade This fact affects ex- change. None of the countries of Europe seem to have any stocks of copper on hand, but feel that they are unable to purchase it on account or the exchange. The English people resent the low value of the pound sterling and are not yet in a frame or mind to do business while the rate or exchange is against them. The English lose on exchange into dollars 20 percent. while with Belgium and France the figure is nearer 2SO per cent and with Germany it is about 4,5OO per cent. With Japan. the dis count is practically nominal Until England and other countries can re- cover. some of their export trade. the existing conditions are bound to con tinue.
 Germany Buying t.
 Despite the differentiaI in exchange tiermany is the only country that is buying copper to any extent. The feeling over there is that all the countries want copper and if they could get credits here to carry them over the time the copper is being converted into manufactured goods and sold, there would be more busi- ness.
 Both. Germany and France contin- ned Mr., O'Brien. are working very hard to- substitute aluminium for cop per and both countries are hoping to engage in an extensive scale in the production and manufacture of alumi- mum. Hope is entertained in those countries that aluminium will replace copper for use in the manufacture Of cooking utensils, but aluminium is not meeting requirements at all. and it is doubtful if they will be able to replace copper in that respect.