Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-11
Washington Ticker
BY CHAS. p. SHAEFFER,
Associated Press Financial Writer.


Notwithstanding the increased pur-
chasing power Of gold since August. |
1923, and the more favorable labor |
conditions In the principal producing |
centers, the worlds production declined |
from $4O6, 1913 900 in 1928 to $403, 1856 900 |
In 1928, drop of $2,972, 900, or OF per |
cent. These statistics, and those that
follow, are the latest available, being
compiled by H. N. Lawrie, metallurgical
expert, for the mineral industry.
Mr.. Lawrie believes 1t probable that
1929 marks the beginning of a pro-
gressive but gradual decline in the
worlds production of gold. There have
been few new discoveries, and had 1t
not been for economies in operation
production in 1929, he says, would
have been considerably less. The more
active development of large low-grade
gold deposits may moderate the de-
cline in future production.
With the exception of 1928, the 1929
gold production Is the highest since
1917, but is still $67 900, 900 less than
the record of 1915. Increases in the
1929 output of the Transvaal of $1,036,-
900, West Africa of 81 ,342, 900 and of
Canada of $4,000 were not SUFFICIENT
to Offset declines in other countries, the
most important of which occurred in
the United States, $2,175 900, in Mexico
$977 900 and in Australia and New
Zealand 1881 900.
Rather anomalous, in view Of the
steady decline in the price of silver in
1929 Is considered this metals increase
in world production from 257, 273 900
ounces in 1928 to a record of 262, 598, 900
ounces in 1929, an amount of $3.50
ounces, or 81 per cent. However, the
value of the worlds silver production
declined from $150,83l, 728 in 1928 to
/ $147.212,439 in 1929, an amount OF
3,619, 288, or "a per cent.
! Confronted by declining silver and
base metal prices. producers have been
compelled at least temporarily, to in
crease the volume OF output in order to
maintain operations, and this may ac-
count in large measure, for the I'M
precedented silver production of 1929.
, This policy, however, cannot long be
continued without prematurely ex-
hausting ore reserves, in the opinion
of Mr.. Lawrie, resulting in heavy CAPT.
tai losses. The low base metal prices
silver price level in history, probably
will result in substantial decline in
the silver production in 1880.
The production of silver in the
United States in 1929 increased 2,475,-
900 ounces. Mexico increased its record
production of 1928 by 10000 ounces.
The silver production of Canada in
1929 was 1,244, 900 ounces greater than
In 1928, and in Australia and New
zealand the increase was nearly 1,ooo,-
900 ounces, with small variations oc-
curing in other producing countries.
The steady growth of the natural
gas industry was maintained during
1929, when a total of l ,917, 693, 000, 900
cubic feet was produced and marketed.
This represents, the United States Bu-
reau of Mines says gain OF % per
cent over 1928 and compares with an
average annual increase of 10 per cent
for the last 10 years
This unusual growth, the bureau says,
resulted primarily from the completion
of a number of new distributing sys-
TENS entering several States and
reaching many towns and cities not pre-
viously served with gas. The bureau
has no data as to the exact number
of new towns and cities served with
natural gas, but from the standpoint
of domestic consumers, or meters in
domestic service, there was an increase
of 772 900, or 18 per cent. in 1929.
Deliveries Of the natural product to
Canada and Mexico increased from 160,-
600 900 cubic feet to ZAP 100000 cubic
feet, which, when deducted from the
total production in 1929, gives 1917
451 900, 900 cubic feet as the total con-
sumption in the United States for the
year. OF this, 10 per cent was applied
for domestic purposes with the re-
naming 81 per cent being utilized for
industrial purposes. Domestic con-
sumption was valued at total of $223,-
ITO, 900, or an average of 81 cents per
/ 200 cubic feet, the same as the aver
age of 1928.
Production of electricity ny the cleo