The copper era and Morenci leader., 1921-06-17
Col. GreenWay Tells Mining
 Men Mexico Railroad Is
 One Solution to High Rates

first time in about 10 years. This has been brought about by the building up of surplus of one billion pounds of copper"
 The speaker then told of some of the great increases ill operating costs over pre-war figures such as labor. 10 percent over prewar, and taxes. s13 percent increase and other items of supply and operating costs. Relief could be affected in a measure. he declared, by collective purchasing on the part of the various companies. and by an exchange of ideas among pur- chasing agents.
 Col. Greenway declared that the ef- forts of midwest oil producers to get an import tax of S1.50 barrel on oil. is matter of vital interest to the mining industry. Most of us said he, "have made good contracts for Mexican oil, and this is a menace that must be combatted. It would be a knockout blow" A'
 With regard to*%high taxes. the speaker said that the only way to get relief, that he could see, is to make the people feel that they are spend ing their own money. They should realize. too he said. that the copper producers are not only carrying the
 
 concerned, but are actually payins them where the others are not. The cattle men and the farmers are not paying their taxes
 Guggenheim Makes Prediction
 In an interview published recently in the New York Times. an optimistic view of the copper situation was tax en by Daniel Guggenheim president of the Chile Copper company and Chile Exploration company.
 The financial editor of the Times quotes Guggenheim as saving:
 For the past two and half years the copper industry, like most other industries, has been in state of readlustment. In peace times the average increase, from year to ,ear of the worlds demand for copper. 1 averaged approximately 6 percent. If this average annual increased com ! sumption had gone on uninterruptetl by war then in 1919 and 1920 the consumption of copper would hava been respectively 2o parcont-and fs { percent of 1913. For the years lSl9 l and 1920 production averaged about percent in excess of 1913 production | an amount which in all probability 1 would have been taken up by con i sumption but for the war.
 III commenting on the possible de- mand for copper, Guggenheim sail 1 that the best estimates based upon conditions as they exist at the pres i ent time, but not including he largo 1 increase in the demand for copper i which should come from Germany and ! the rest of the world. are that tha 1 consumption of copper is about 6-5- 1 900 tons per annum. and the mine ! production about 375,OOO tons per i annum. At this ratio it will be seen readily that it will not take q long time to absorb the entire copper sur plus, and thus put the industry asaia in splendid condition. It is estimate,l that production is now about 50 pe-- cent of the worlds normal cOnsunin- ton as based or pre-war statiStics. ! plus the usual annual increase of the 1 past
 The German plants manufacUurins copper products are now re-eStabl- ished at full capacity, the demand for these products is worldwide and the | only way to satisfy that demand k to acquire the necessary c0nus-. ! Germany, however is only a si0S'e country. The whole world at the | present time is under-constructed and under-eQuipped with all materials and i products requiring the use of copra-.