The copper era and Morenci leader., 1922-11-17
COPPER SITUATION SLOWLY IMPROVING SAYS CHAS. r. WILLIS

It is interesting to note that, in spite of the fact that France was supplanting Germany as the largest consumer of American copper, that Germany is again in line and in her usual place at the head of the column The first eight months of 1922 show ed better than 6,0O0,OOO pounds in crease in foreign sales over the same period in 1921 or about 35% increase This was in spite of the fact that Germany, France and Belgium did not increase during that period.
 The governing factor in regard to copper is the European consumption During the pre-war period Europe took about 55 per cent of the Ameri- can output, according to J. Park Charming, vice president and con- sulting engineer of the Miami Copper Company, who is at present in the southwest
 Pessimists on the Cooper situa- tion have been holding up the bug bear of possible overproduction but this has been dispelled by MT. Chan ming. T see no danger of over production, states MT. Charming. Sales during the last six months have been very satisfactory, but there is one difficult point to be de cided. Has the copper sold gone into consumption? The copper pro- ducer's association has accurate fig ures of production, shipments and deliveries, but we have none on the ultimate consumption. Investigations are being made on that matter now and it is hoped that in time we may have some definite figures as to the actual consumption. It may be that some of the buying of the last six months has been for manufacturers, jobbers and retailers. Taking every thing into consideration, I may say that the industry is in healthy condition with price which, how ever. is lower than the pre-war aver age. That price is not. giving the companies the profit that is neces- sary to keep them in the financial position they should be in
 .'The Miami Copper Company has sold its metal right along, great deal of it having gone for foreign consumption. We hope it will con- tinue. One gets very contradictory reports as to Europe from men who are presumably good observers, and it is very difficult to arrive at a
 
 what will emerge from the troubles of Germany, but it would not surprise me if the mark went the way of the Mexican paper currency. When that happens the country will begin to make it's return to a metallic basis. I am informed that nearly all of their foreign trade is done in dol lars and pounds"
 Mr. Charming refers interestingly to the future development of the electrical industry and its effect on copper production. T know that identification is coming On Octo- Der 1 the Illinois Central announced it's decision to electrify it's Chicago terminal at a cost of some $25.000,- 900. There will undoubtedly be a great deal of identification in rail road terminals This is the first identification in Chicago and the proposition was carefully considered by three prominent electrical engi- neers who spent eight or nine months on it. They are going to use 1,500 volt direct current. There is big field in this alone, and of course all this is good for copper"
 Power demands in the Southwest are continually increasing and the Magma Copper Company of Superior are now negotiating with the Salt River Valley Water Users Associa | tion for four times as much powei as they are now using. It is be lieved that the large demands fol power from the Miami, Globe and Superior districts will tend to hasten the construction of the Mormon Flats Dam.