The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1923-11-22
PROSPEROUSW|NTER
IN COEUR D'ALENES
METAL MARKET GOOD
Prices Insure Steady Produc-
ton and Large Payrolls--
Pine Creek Shippers
wTyIrH THE EXCEPTION Of

IVY ITH THE EXCEPTION of
W. silver, which promptly
wv dropped to around SO cents
last May following the ex-
piration of purchases at 81 per ounce
under the Pittman act, metal prices
so far as the Occur d'Alene district
is concerned have been decidedly bet
ter during the present year than in
1922, and as the year draws to a
close the outlook for further advance
in the price of lead is highly favor
able. while zinc is in a better position
than it has been for several months,
due mainly to probable increase in
export demand. Under these condi-
tions the large producing mines will
maintain capacity operations through
out the winter About the first of
the year Hecla will be productive
with a substantial increase in the
payroll above the present required in
reconstruction work. The Hunter is
steadily advancing toward a resump
ton of production and within a few
weeks should have its normal force
of about 1856 men on the payroll. The
same favorable conditions will insure
continuance of development opera
tons by smaller and irregular ship
pers, as we'll as to give direct en-
couragement to leasing activities,
which have grown to be an important
factor in the mining industry of the
Occur d'Alenes.
Activity on Pine Greek.
AS a result of the Anaconda COM
pany entering the Occur d'Alene dist
riot as a purchaser of zinc, at least !
two Pine creek mines are expected |
TO begin regular shipments before the |
first of the year. These are the Con- |
stitution and the Nabob, while the |
early completion of the mill at the |
Amy Matchless will probably enable |
that company to join the list OF Pine /
creek shippers about the same time. |
Highland Surprise under lease, will |
also continue lead shipments during /
the winter, and the generally favor !
able metal outlook will justify other |
properties in that section to push de-
velopment work. Altogether the out
look for the winter on Pine creek
is brighter than it has been in many /
years. placing that rich section in !
swelling the chorus of prosperity in
position to swelling the chorus of
prosperity in the Occur d'Alenes.
Review of Metal Market
The Engineering and Mining Jour
nal-Press of November II has the
ket.
1.-THE feature of the non-ferrous
metal markets during the week has
been the spectacular and steady ad-
vance in the price of copper, which
has risen about as rapidly as it de-
clined Just a few weeks ago. The
lead and zinc markets have also i'm
proved. so that on the whole the
markets have been cheerful ones for
the producers. The improvements
shown in New York prices have been
accompanied by advances in London,
despite the drop in sterling exchange.
Both copper and lead are in good de-
mand abroad
Lead.
ION Nov. 10 the official contract
price of the American Smelling &
Refining Co. was advanced 10 points
to s6.S5c. per h. New York, bring
ing it back again to the level 1t was
at on Oct "a. An increased inquiry
for lead and the large volume of bust
ness previously placed on the books
of the company accounts for the ad-
vance Other producers are asking
a premium for prompt New York
shipment, and 6.95c. has been paid for
that class of lead. Sales have also
been made at 690c The market in
the Middle West has increased to
$500, with higher prices occasionally
asked, but the metal is still available
at the price mentioned. The improved
prices have stimulated demand from
consumers, and good sized tonnages
have been sold. 1t has also made the
market a little narrower as at least
one producer is holding on watching
developments
THE foreign price of lead remains
strong. so that it is impractieable to
import lead in ores and to sell 1t here
proftably. Until the foreign price
declines or the domestic price i'm
proves this condition will hold. AT
present the domestic demand for lead
is being met by the domestic pro-
duction The lead-covered cable and
storage battery business is splendid
White lead consumption is good and
stocks in the hands of jobbers are
felt to be low.
Zinc.
prices have improved slightly car
rying them to between $40 and 6.45c.
per lb. East st. Louis. Sales nave
been fair to both galvanizers and brass