Douglas daily dispatch., 1927-02-02
ne all peace time records.

ing all peace time records.
The United States treasury depart
ment is fighting the proposed purchase
of silver by the United States. This is
the bill authorizing the purchase of 15|
million ounces of silver at 81 per ounce
to complete the purchases under the
Pittman act. This has been passed by
the senate and favorably reported by
the house committee in spite of treas
ury department protests. The opposi-
tion states that the government has
already paid $5S, 100000 more for silver
under the Pittman act than 1t would
have had to pay by buying at current
market prices.
Sidney J. Jennings consulting engi-
neer Of New York, states regarding
the silver situation: Future outlook
for silver is not clear. A large pro-
portion of all the silver produced is a
by-product in the recovery of copper,
lead and zinc Such silver will be con-
tinued to be produced in increasing
quantities irrespective of price. The
amount recovered is dependent upon
the demand for copper, lead and zinc"
Some sellers of copper have declared
that they are going to hold for the
l13ss price, but the dullness of the mar
ket has caused others to sell at the
1914 mark. The fact that copper is
believed by the producers to be on the
upgrade is evidenced by the increasing
of the price by the Copper Exporters,
Inc, to 1885.
1t has been predicted by some people.
that the producers are going to drift
away from the stabilization policy Of
balancing production and consumption,
as some Of the larger producers be-
lieue that the time has come with their
cost improvements when they can in
crease production and make more
money, even at still lower price of
copper than is being done now at cur
tailed production.
1t is doubtful if there is anything to
this rumor, as they have stood too long
on this balancing program and nave
had it's advantages well demonstrated
and appreciate that it will not make
for the greatest ultimate prosperity to
run away on production and get back
to the survival of the fittest' policy
The electrical business in the United
States is still on the increase, as is
evidenced by the orders received by
the General Electric company for the
year ending December 81, 1926 which
totaled 1927, ,2O7, an increase of $
per cent, or nearly $25,O0O,O0O over
1925, as announced by President Gar
ard Swope This is the biggest vol
ume of orders in the company's his
tory, the previous high mark, achieved
in 1920, being $S1S,47O,OOO, or about
ten millions below the new record.
So far this month, foreign business
has been rather good, Germany being
the largest buyer, with England and
France following close behind, and the
advance in price for export copper did
/! not slow up the demand.
! The outlook is believed favorable for
! a considerable increase in European
consumption of copper during 1927. In
! spite of a number of disturbing influ-
ences the exports last year were good
and most of the poor conditions of
/ last year, like the British coal strike,
etc, have been removed. The reports
from Germany are especially optim-
| istic for a substantial Improvement in
| business.
I The present condition Of the copper
industry is aptly summed up by Ar
! thur hoffman, consulting mining engi-
l-neer of New York. when he says: In