Douglas daily dispatch., 1927-06-14

below the figure where it should be

below the figure where it should be
standing.
Let it not be forgotten that the
be reckoned with. Measured by pres
ent purchasing power, copper should
be selling at 18 cents or better to put
the profit and loss account on a
parity with pre-war days. Expressed
differently a price Of 1878 cents for
the metal today will buy only 9A
cents worth of mine supplies and
pay for az cents worth OF wages
when comparison is made with be-
fore -the-war conditions.
They say in part: "The failure
Of the whole producing Industry To
bring about a sane equalization as
between operating costs and selling
prices of copper is sad reflection
upon the intelligence of those charged
with the responsibility of producing
and marketing one of our most es-
sential. commodities.
The present refusal of European
copper fabricators to carry share OF
the copper stock and buying from
hand to mouth in very small quantl-
ties has brought about crisis in the
European copper situation. Cool L.
Walker, a well known observer, writes ::
considerable talk has been engen-
dered by the letter of protest sent to
the Copper Exporters, Inc, by the
High Conductivity Copper association.
This letter sets forth that in the past
consumers were able to purchase cop
per freely, from London dealers and
representatives of producers while OF
late they have several times been
unable to obtain reasonable quantities
at the price quoted, or indeed at any
price whatever"
"In America it will be difficult to
believe that a condition possibly
could exist that would call out such
protest. Apparently the eXplana-
ton is that consumers have been
putting too much dependence on their
ability to get copper from the dealers
in an emergency They have been
carrying ridiculously small working
supplies as a rule. It is possible that
the plan is to give notice to con-
sumers that they can protect them
selves only BY buying copper when it
is offered and by carrying larger
working stock
"The persistent refusal of con-
sumers to carry their reasonable
share of surplus supplies has largely
accounted for the weakness OF cop
per during the past five years. This
attitude on the part of consumers has
made the producers peddlers rather
than sellers of copper"
The inclination on lead is to de-
cline further and some small orders
have been sold at less than the cur
rent price. Zinc seems to have def
initely turned upwards coincident
with drastic curtailment of produc-
ton in the Joplin district and the
formation of the export association
to handle zinc products abroad
The consumption of zinc in the
United States has been jumping for-
ward, according to the comparative
statistics of 1925 and 1926. The total
has increased and also the total of
each of the individual major indus
tries using zinc. The per capita con-
sumption of zinc during 1926 was
1910 pounds per person as against
1907 in 1925. These figures are far
in excess of those of any other
country.
Zinc for galvanizing is now using
288, 900 tons annually and there has
been a steady and substantial in
crease in the amount used for this
purpose every year since the war.
In 1921, 138,100 tons were used, in
1924, 100000 tons, and in 1926, $4,000
tons.
| Authorities on the European situa-
ton predict a larger demand for zinc
from the European countries than
for copper or any other metal during
the next year. The Belgian exports
I'of zinc in 1926 increased IL per cent
over 1925 and promises even greater
! increase this year.
An attempt is being made to en-
force the treasury department. to
complete the purchases of silver at
$1.OO per ounce as authorized by the
Pittman act as it is alleged that the
government did not purchase the full