Evening star., 1929-06-11
Washington Ticker

BY the Associated Press.
In the opinion of experts, copper
producers are likely to enjoy almost In
definite continuation of the present
strong demand for their product. In
addition, the American mine operations
in Arizona, Utah, Montana and Michi-
gan, on which national predominance
in Sthe copper field rests, are likely to
remain most valuable resources, even
though Africa and Canada will become
of increasing Importance in world cop
per supply.
These conclusions are drawn by Gov
ernment technicians from the almost
astounding rate Of increase In world
consumption Of copper and the con-
tinuous progress Of an electric age. 9.
z. Julihn, Bureau of Mines specialist
on copper, has worked out set Of fig
ures that show SO per cent increase
! in the worlds copper output as having
taken place in every decade during the
century ending in 1920. If demand con-
tinues to take that course-and there
/ is plenty of evidence at hand that it is
rising faster now than 1t was in the
century studied--the world will very
shortly demand 100000 tons annually
of copper, whereas total known produc-
ton in 1928 was under 1900, 900 tons.
"Yet we can legitimately expect the
| increase In demand to continue" Mr..
Julihn declared. 1.-The heaviest con-
sumption is now in wire bars, which
| means that the metals utility In elec-
| trical conduction is the cause of the
growing requirement for it. American
electrical installation is far from being
complete. Identification in Europe, in
| South America and other parts OF the
world is just beginning
"Of course known resources OF copper
ore are not sufficient now to sustain a
demand growing like this, though it Is
probable that as the price responds very
large reserves of low grade ore in Ari-
zona. Utah and other copper territory
will be made profitable enough for ex-
ploitation. It is quite apparent that the
Belgian Kongo and Rhodesia in Africa
have very great supplies, but the metal
output from them cannot begin to as
sumo great size for three years, and by
that time thea will be serious need for
them Though the African and Ca
madam producers are having the full
advantage of American technology in
developing, the difficulty of training la
Dor, particularly in Africa, slows up
progress.
For the immediate future the Ameri-
can mines and the South American
properties controlled by American en-
when the New World output does ap-
pear American copper territory will,
nevertheless, be kept in all probability
in heavier production than has yet been
experienced"
Though William G. McAdoo, who
happened to be a weekend visitor to
Washington, confesses that Federal
Reserve Bank policy has an absorbing
interest for him, in view of the pioneer
establishment of the system under his
administration as Treasury Secretary,
he expertly fends of queries aimed at
eliciting his opinion on the system s
policy in the recent credit controversy.
He refused even to say that Treasury
Secretary, voting on the board, could
have permanent influence on fixing re-
discount rates. .
"That would depend on the Secretary
and on the board. now, wouldn't ft?"
he parried one questioner. Naturally
I've noted the general course OF credit
administration during recent weeks with
a great deal of interest but I'm not
going to say anything about it unless