Bisbee daily review., 1921-11-29

while total county taxes are over
100000 more. or nearly three millions
more to be raised by taxation, and
this in year of depression. We must
see that more rigid economy is prac-
ticed by our state and county officials
and the place for us to start is at the
polls Most of us do not wake up to
the situation until the budgets are
made up, or until our tax notices ar
rive, and then we yell our heads off.
pay ocr taxes, and forget it for an
other year. 49,.
"Our biggest industry, copper min
ing, is null and void, crippled or
manned, on a vacation or alternating.
During the world war practically the
| total output was used in the manufac-
ture of munitions, other materials be-
| ing substituted for copper and brass
in other lines of business. These sub
| stitutes are stoill being used to some
extent The Copper and Brass Re-
search Association was recently form
ed to create a larger use for copper
and undoubtedly the king of metals
will come into its own i'll the near fu-
! ture The large surplus last spring,
estimated TO be something like one
and half billion pounds, and the low
price and small demand made it ne
| cessary for the smelters and concen-
traitors to close for a while. Only two
companies have been producing since
May LIST.
Production Decreases
According to figures compiled by
{ the Arizona Chapter .of the American
/ Mining Congress, Arizona mines pro-
! duced 542,222,000 lbs. of copper in
| 1920, compared with an estimated pro-
! duction of 156,629,000 lbs this year
Last year we. produced 3,753,313 ozs.
OF silver. this year 941,S70 ozs., gold
! 211.722 ozs. last year, this year 124,-
! 952r -oZs. Last year the average
monthly production of copper was
over 40 million pounds, at present it
is less than six million pounds. The
average price of copper for 1913 was
/ 1512c, 1914. 1880, nine months this
/ year, 12Ac. -.
| Il doubt if there is one bank in the
| state that is not carrying some paper
! secured by live stock of some descrip-
! ton. We are all vitality interested in
| this industry. According to reports,
| a shortage exists in many parts of the
| country, and | believe we will see L
much better market in a year or two.
Eugene Meyer, Jr.. has recently
! been quoted as follows: Many small
/ banks have become involved, morally,
through placing so-called excess loans
with correspondents. Efforts to meet
the notes as they fell due led to dis
orderly liquidation. The market has
been flooded with immature and even
1 breeding cattle, endangering the meat
| supply in years to come. | believe we
/ should go the limit i'll protecting the
/ deserving cattleman at this time.
Due to the demoraliZed condition
/ of all our leading industries the banks
have had very trying year. | regret
| to say that ten banks were unable to
weather the storm and were forced TO
close. or these. four have eropened
and are again doing business and have
L regained the confidence and support
of their depositors. In addition to
n those closed three others were alb.
sorbed by other banks. 1t is but nat
ural that deposits have decreased and
Il rediscounts and bills payable have in
creased during the year On Sept. s.
1920, we had So banks, whereas on
I Sept. 6, 1921, there were 50, with a
capital. surplus and profits of $4,000
more than of year ago. Deposits
have decreased about Is million dol
lars. Rediscounts and bills payable
show an increase of 100000 Loans
stocks and bonds show a decrease OF
91a millions. Totals have decreased
nearly Is millions, or about 10 pei
L cent. but are still millions above the
figures of the same date for 1919"