The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1923-02-01
HIGH PRICE OF LEAD
MEANSMINING BOOM
SHORTAGE OF METAL
Silver Price Advancing and
Zinc Moving Upward
Great Mining Revival

WVTTHEN THE price of lead
N.Y. reached a point above
wv cents per pound with a
strong upward tendency
considerable apprehension was ex-
pressed through fear of a runaway
market. followed by a reaction in price
that would more than counterbalance
the benefits derived from the high fig
ures. The so-called runaway mar
ket contemplated cents or above for
lead, but now that that level has been
reached little is heard of the antici-
pated and feared reaction. This
change is explained in the fact that
the rapid rise in the price of the metal
has not been a runaway, but rather
natural response to the steady in
crease in the demand for lead with no
corresponding increase in production.
According to authorities on lead, there
is now an actual shortage of the metal
which is being supplied to some extent
by importations from Mexico, the high
price making this possible in spite of
the tariff. At the same time the price
VI ltdu III 1onuOI 10 NOllNoBOhhAAABAg
high and the demand for Mexican
lead in Europe will tend to prevent
importation of an over supply to the
United States The high price is hav-
ing a buoyant effect upon mining OPP
erations in the Occur dAlene district,
and the outlook for lead mining could
hardly be more favorable than it is
Il
in lead, the price of foreign silver is
showing unusual strength. This TAX
en- with the efforts in congress and by
silver producers to stabilize the price
indicates that the reaction following
the completion of purchases under the
Pittman act may not be as serious as
anticipated
Lead and Zinc.
The Engineering and Mining Jour
nal-Press of January 81 has this COM
ment on the lead and zinc markets:
1.-THE second of the two advances by !
the smelling company came as some
what of a surprise, as it was felt by
most followers of the market that al |
though lead was decidedly scarce, /
there was nothing approaching a fam
inc in the metal and that prices were |
quite high enough for the time being. /
However, when the smelling company |
advance 20 Use, the sO-called out |
side market Immediately talked &C.; ,
furthermore individual orders and
specifications on contracts assumed
such a large total that the further ad- /
vance seemed justified With the
present demand in this country, and
no let-up in sight for the spring, it
seems absolutely necessary to set
price high enough to attract suffi-
cient amount of Mexican lead to this
country to take care of all domestic
demands. AT todays levels, here and /.
in London, this will take place, but
London has been advancing right
along. too and in two or three days
with a steady market here, it may
again be advisable to ship Mexican
lead abroad Cable, storage battery
and paint manufacturers continue
even buster than ever, and it is hard
to see how demand can drop off much
before fall.
Zinc.
zinc prices have declined further,
and sales were lighter than for the
week. A few producers are
not inclined to sell ordinary grades at
present prices because of their favor
able position with regard to stocks.
Most of the business booked was for
forward delivery as far ahead as
April; the prices for prompt delivery
were about 10 points higher than we
quote. but the amount of metal sold
for this delivery was comparatively
High grade metal con-
tinues in excellent demand at I'M
changed prices, 7.75@s25c."
Since the Journal Press review of
the market. zinc has made a substan
tial recovery in price, and those best
informed on the metal predict strong
demand throughout the year.
New Development.
AS the year advances the conviction
grows that the Occur d'Alene district
is entering upon perhaps the most
prosperous period in it's history. With
hundreds of promising prospects
awaiting further development, the
high metal prices and favorable out
look present an incentive that should t
and will induce great mining activity.
companies long idle On 9