Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-27
COPPER PRODUCERS
FACE BIG HANDICAP
Dumping Of Cheap Foreign
Metal in U. S. Hurts
Home industry.

year regarding tho oil industry than
any other. On all Sides and at all
times. the cry Of overproduction has
been heard; and producers have per-
sistently proclaimed that the industry
was going to rack and ruin.
Yesterday the dividend payments of
the Standard OIL Cos. for 1880 were an
Iiouncsd. Bad? Not at all. Look at
the f1gures-a new high record both for
the year and for the fourth quarter.
Think of $3.50, 666,726 dividends in
one year-an increase of $1,000 80l
over the total paid by the Standard Oil
Cos. in 1929.
Take the fourth quarter Of this year
Dividends will aggregate co3,047,644
compared with $75.063.856 for the
fourth quarter of 1929 and $66306015
for the third quarter of 1929.
The Standard Oil Co. Of New Jersey
the largest of the companies-will pay
out dividends exceeding $50,o00,00o for
1880. This Is the largest amount paid
by any Standard OIL Co. In any year IN
its history.
Leading Standard Oil units. which
have declared a special extra dividend
In the final quarter, are Imperial on
Standard Oil of New Jersey, Vacuum
Oil Co.. Standard Oil Co. of Kentucky
and the Prairie Pipe Line Co.
1nHIc are UuSllSoSCS dlld puSAiCnSNS
but no business has rolled dollars into
fortunate pockets faster than successful
oil companies.
Copper Output Cut Again.
Four large copper producers in the
United States-Calumet e. Hecla. CALI
met IL Arizona. Nichols Copper 60.
and Anaconda-have announced iuI-
Their ctirtailrnent of copper production.
rfvS,I, yoaops more men will be added
Do the list Of the unemployed
A review Of the American copper
situation during 1880 Is interesting.
During the first 10 months OF this year
che United States consumed an av-
erage Of 17,S50000 pounds OF copper
each month more than 1t produced,
while the imports Of CHEAP. sforelgn
copper during the same period exceed
ed exports at the rate OF 2O,T5O,OOO
bounds a month.
If the copper mining industry of the
United States is to be sacrthced 10
foreign copper interests. which produce
and land copper In the United States
At haif the cost of domestic copper.
the American people should receive the
henef;t in the form Of really cheap
copper a !. ~,
cheap, when the cost to produce ano
deliver to American consumers Is only
4 cents a po,1nd. One hundred and
forty per cent profit is entirely too much
FOR the foreign copper producer 10 exact
from the American public.
eight cents a pound would give the
FOREIGN producers plenty OF proft ana
Rive the American people really cheap
copper. ,, ,o,,
means 10 close up and abandon Amer
lean copper mines. at least foreign OPP
orators should be limited in the amount
Of profit they take from the domestic
market.
Position If Copper Industry.
Many consumers of this metal ask.
wfy not have free trade in copper?
That would give us cheap copper But
there Is another side to that question.
For more than century. the United
States has been developing under
protective tariff system. 1t may or
may not be q good system. But why
except copper from the workings OF the
SYSTEM Why is copper not protected
when everything else Is?
1t is precisely the same thing as II
the United States was under free
trade system and by some device, pow
erful money interests were able to ex-
cept copper from the workings Of free
trade. causing tariff to be levied
against 1t alone.
IIlHG Is SAdCbN tIiC SituHtlVi Will
reference TO copper today Copper
alone, Of all the basic industries Of the
Bntted States, Is excepted from the
workings Of the tariff system. And
why?
Copper can be dumped into the
United States at half the price at which
American copper mines can produce It,.
Thus the limitation Of the world pro-
duction of copper primarily does not
benefit the American consumer. But 1t
does benefit the foreign copper pro-
Queer. who will be enabled to exact
greater toll than ever before from the
American public.
Protect the American copper pro-
Queer. expand domestic copper produce
ton TO meet merely the American de-
msnd. and thus lessen unemployment
instead Of increasing It, such as is the
Inevitable result Of the present world
copper restriction set-up.
War Debts.
Sir Robert Borden. Canada's wartime
prime minister and the Dominican rep
resentative at the League of Nations,
thinks that the last ] 3 years Of peace re-
construction has convinced all thought
full students that the economic condi-
tons OF the entire world. including those
NJ the United States.' would today be
much less depressed and far more salts
AALOOAy IL tilC wei OCDLS Ildu D6CIl WITH
ten OF 10 years ago and the world had
begun new advance toward normal
conditions
Probably true-but the difficulties are
IN putting IL into effect The World
War did wreck the international ma
chine of trade. In fact, that machine
Ia still long way from being com
pletely rebuilt now--l3 years after the
war
But should the United States be ex-
pected to carry the entire load? France
seems TO have no trouble in spending
three times as much money for her
army and navy a. the total debt pay
nents to the United States amount TO.
and Italy and Great Britain are not far
behind France In this particular
II the world is TO rebuild the inter-
national machine Of trade to enable the
standard of living OF the various coun-
tries to rise, then the huge totals for
ornaments must be vastly reduced in
the next 10 years For this problem Of
armament expense cannot be ignored
a. time when the pressure is becoming
more and more intense from Europe for
moratorium, not only on German
reparations. but on debts owed by Eli-
topean nations to the Government of
the United States
(copyrieht, 1890. by the North American
Newspaper Alliance
MnnEnI INJECTED Arr