Evening star., 1923-11-12
MINING INDUSTRY
AWAITING DEMAND
Copper and Silver Supplies
Are Piling Up-"Long Pulp'
Outlook Called Good.
BY J. G. ROYLE.
Special Dispatch to The Star.

special DlSpatcn 10 lne Stui. .,,
NEW YORK. November l2-l nc
metal mining industry is looking "
the future rather than to the I'M
mediate present for stabiilty anu
prosperity In spite of the tacl .ha'
the non-ferrous metal markets tooas
are buyers markets" mine owners
are confident that for the long pun
prices will recover and demand VIII
tax the capacity of their properties.
That is the reason why, although
copper is down to a low figure and
sales of silver have fallen off since
the Pittman act ceased to provide
demand. mines still continue actlVe
production and the surplus supply or
copper and silver is growing. copper
producers in some cases have cut
wages and expenses, but they have
not materially checked production.
Long Pull Favorable.
The attitude of the mine owners is
based on thorough investigation
and knowledge of foreign and domes-
tic conditions. America produces far
more copper than is consumed in this
country. The prospective demands of
Europe, however, are greater than
ever in history.
Until a few months ago Germany
bought-and paid for in dollars and
sterling-millions of pounds of Amer
lean copper. Those purchases now
have practically ceased, however, for
Germany has had her hand called,
as mine owner just back from Eu-
rope expressed it today. She was
asked Indirectly how it happened
that she had cash to pay for copper
but no cash for reparations. The
projects for which the copper was
bought were not abandoned. how
ever. and sooner or later Will require
81 tremendous tonnage OF the red
metal.
Germany's Future Needs.
Germany. according to metal men
who have recently investigated the
situation. found her industries men
aoed by lack of power when France
occupied the Ruhr She could neither
mine, transport nor sell the high
grade coal from that section. The
country. however, had large deposits
of Ignite coal. which will not stand
shipping, as it disintegrates. If used
close TO the mines. however, it is a
perfectly adequate fuel. German
manufacturers and engineers. after
sareful Investigation. outlined plans
Oy which this coal will be turned into
electric power at plants near the
mines. This current will then be
transmitted over high tension wires
to factories. The change from coal
power plants and steam machinery
to electrical equipment will involve
tremendous purchases of copper even
If the wire and machinery is manu-
factured in Germany.
Italy to BE in Market
Equally extensive is the program
for electrical expansion and equip
ment in northern Italy. This program,
which involves harnessing the thou
sands of streams which pour down
from the Alps. has already been sub
mitted to American electrical COM
pan!es and il is generally understood
that the General Electric Company
has taken an interest which goes be-
yond the mere nursing of a prospec-
tive customer. The program, which
awaits only on more stable condi-
tions, also will require tremendous
tonnages of copper.
Silver producers are optimistic over
the success which attended the forma-
ton of the Silver Export Association.
This organization Will handle the
much the same manner that the Cop
per Export Association dispoSes of
American export copper. Practically
all the large silver producers have
Joined and mines in consequence are
active.
Silver Mines Need Men.
In Colorado metal mines are beg
ging for men. In the nine months
ended October l the Denver and Rio
Grande western road handled 14,0S2
cars of ore and concentrates. as
against $500 in the whole of 1922.
The shortage of miners seems des-
tined to become more acute when
plans for increased development are
put into effect. Mining machinery
dealers have put on night shifts in
Denver.
With an ore surplus of $4,000 tons,
or more than Ave weeks supply at
the normal rate, most of the lead and
zinc mines in the tri-state field have
been closed down for a week. but
some time back the movement Of ore
has been well ahead of average pur-
chases. The electrical industry de-
mand and that for building purposes
shows no sign of diminishing, how
ever.
Copyright 1921