The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1922-01-19

XWT IL II ledu occupying the mos
A advantageous position of any
\" OF the base metals, with a con-
sequent rising market ahead
and with silver stabilized at one dollar
an ounce, it is reasonable to conclude
that the outlook for the Occur d'Alene
mines for the new year has a much
brighter hue than for several years
past.
Reasons for the position of lead are
at hand. Domestic lead production
in 1921 declined only 20 per cent to
100000 TONS as compared with 476,S49
in 1920. World out put over the same
periods contracted from approximately
100000 short tons to sS5.OOO. as
against 1,125,5OO in 1914. The war
time world record was only 100000
short tons.
Foreign metal movements were
maintained in a high level in 1921.
Total exports are estimated at S3.7OO
tons, as compared with 26,26S in the
preceding annual period. Imports.
which for the years 1916 to 1919 in
elusive, had been a little over 5000
tons a year. advanced to 35, 719 in 1920,
and held at $4,000 for 1921. The
heavy import movement was stimu-
lated by Frustrated European ex-
change, facilitating marketing opera
tiOns in this country in terms of gold
The price average for the year is
computed at 4.s9 cents a pound, with
$50 low" and sos high" The war
peak average was only S.92 cents a
pound, St Louis basis. In 1915, metal
sold down to $50 cents pound. Pres
ent rates indicate that lead has suf-
fered least in proportion of any of the
base metals.
Absence or unwieldy unsold lead ac-
cumulations has proven the most inn
portant factor from the market stand
point. Supplies available for con-
sumption are closely co-ordinated
with the actual demand. This is pos
sible only through the close control
of the industry, as well as the formid-
able tariff wall OF rs per cent ali val
Orem
Foreign Situation.
The foreign situation has been i'm
measurably strengthened by the par
,ition of the Silesia adversely to Ger
many. 1t is estimated that Sc per cent
If the zinc and II per cent of the lead
ore resources were awarded to Poland. |
Polish technical ability is not believed
equal to the task of operating these
mines and smelters efficiently Pro-
duction should thereby be materially
curtailed, as Germany will be confined
to the Westphalian mineral reserves
The Spanish labor situation has
been unsettled over much of 1921. and
lead ore output has suffered accord
ingly. Australian difficulties were
further complicated by low metal
prices and consequent severe curtail-
ment in mine operations. Mexican
production was held down by retrench-
ment of smelling operations ana
TRANSPORTATION shortage. These coun-
tries, together with the United States
account for the bulk of the worlds
output.
Close control of the lead industry by
a few large concerns suggests tha'
price readjustment has already peen
thoroughly accomplished. The future
course of the market would appear TO
be gradually upwards keeping pace
with general industrial recovery For
eign influence upon the domestic STU
alton is minimized by the tariff bar
riers already existing. Prominence OF
the dominating lead producers leads 10
the inference that these bars Will not
be lowered. The outlook for lead Is
therefore the brightest of any Of the
base metals.
Time for Expansion.
1t is for these reasons that the occur
d'Alenes today are attracting more at
tention from eastern capital than Tor
years past. Engineers representing
eastern capital have been in the as
triet repeatedly during the past re"
months and they are here looking TOT
worth while investments and not mere
speculations. The present is the crit
ical and psychological time Tor mine
operators to be active in the develop
ment work in their mines which nave
been lying dormant, and also for mine
Investors to be busy in investigating
properties which they may purchase
There is no Disgusting the fact tha'
both 1920 and 1921 were hard years III
the mining business. They were dltH-