San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1924-03-30
SAY !.
| COPPER PRICE
IS TOO LOW
Conditions in Certain Fields
Causing Curtailmeht Of
Production.
TO ABANDON MINES
Many Michigan Workings
Expected to Close Per-
manently.
TO ABANDON MINES
nv L a. ROYI,E

New YORK, March 19.-Ihe pros
poets of the non-ferrous metals, ac-
cording to men In close touch with
mining, are interlocked tightly today
with the prospect of building con-
struction, automobile output and
manufacture Of electrical equipment.
Each of these industries is progress
ing at remarkable rate, yet condi.
tons in certain mining fields are en-
forcing curtailments of metal produc-
ton or seem likely to do SO.
Heads Of two of the important
Michigan properties state that unless
the price OF copper works higher soon,
the many upper Michigan mines will
close and some will be permanently
abandoned. These men declare accent
copper does not justify working ores
from which only 10 to II pounds of
! copper a ton can be extracted. Michi
gan representatives in Congress will
| be requested to present a high tariff
law. Michigan producers say that this
is the only thing possible 10 counter
act competition from low cost Meyi-
can and South American properties.
To Reduce Production.
The Calumet and Hecla company
plans TO keep its production 1850, 900
pounds lower than has been the case.
inspiration Copper is said to have put
similar reduction into effect. Ana
conda has suspended work at two
| mines and Grcene-Cauanea is prcpar-
ing to cut off 100000 to 1.000,000
pounds Of monthly production. Never
theless the output seems destined TO
continue high. since the Utah and
other producers can make copper with
| y profit with the metal selling under
| 10 cents. These companies haze taken
no steps to curtail production. In
| addition the imports from low cost
foreign countries give indications of
increasing rather than diminishing.
The main object of the low cost do
nestle producers seems to be to in
crease demand by furnishing brass
! and copper fabrieators with a steady
large supply of copper at relatively
low prices. So long MS their margin OF
profit exists, thew seem likely to take
little interest in tariff revision pro-
grams.
Zinc Production High.
Lead and zine production has been
| exceedingly high since January |, and
while the technical position of each
metal is still relatively strong, the
peak of the buying movement seems
to have passed for the moment and
prices have slackcued in consequence.
In the tri-st1te fields, production is
| being held down closely TO coincide
! with demand and prices for zinc ores
have improved in consequence IN the
last week. ~
Lead producers are unworried by
sliding off Of quotations. They point
to the fact that paint manufacturers.
automobile makers aud battery manu-
| facturcrs have bought tremendously
in anticipation of prosperous season.
Tire manufacturers, Dre using an addi-
tional amounted lead oxide. the tele-
phone and telegraph companies are
proceeding with hnvy expansion pro-
grams, and the development OF radio
has opened a new lead consuming
field. Production, however, promises
to continue high. Surplus stocks OF
zinc, it is believed, have not declined
this month and the position of that
metal is not so strong as lead.
Tin Up 20 Cents.
One of the recent outstanding feat
ures OF the Midwest lead-zinc situa-
ton was the acquisition of the Inter
state Zinc and Lead Corporation in
the Crestline, Kan. field by the Eagle
Pitcher Lead company.
Heavy consumption and lack OF
prompt supplies have combined to
aise the price OF sin 20 cents pound
above the 1923 level, but heavy ship
ments from the far East are expected
this spring. However, tin plants are
running about capacity and the statis-
teal position OF the metal is strong.
Autumn delivery is now quoted at
30 cents a pound, or 4 cents higher
than a year ago and metal for spot de-
mand is scorce. However. it is be-
lieved that the automobile trade,
which takes care of about 70 per cent
of the American output, will be light
err in the next two months.
Silver production has been slightly
larger than year ago when the Pitt
man act was in effect, but prices this
month have shown considerable
strength.