Evening star., 1932-11-20
COPPER RECOVERY
PICTURED ON WAY
LeWiSohn Points to Increase
in World Consumption
as indication.
BY DIR. MAX WINKLER.

Special Dispatch to The Star.
NEW YORK, November 19.-"In spite
of our large American stocks and in
spite of the present disorganized for
eign market copper is undoubtedly at
the beginning of an era of recovery,
according to Sam A. Lewisohn, active
head of the Miami Copper Co. and the
Tennessee Corporation and recognized
authority on non-ferrous metals.
When Americans think of railroads
they automatically think of Hartman
and Gould; when they discuss the steel
business, Carnegie and Gary stand out,
and when they talk of public utilities
Carlyle, Mitchell and Sloan are men,
toned. When they speak of copper
they think of Guggenheim, Ryan and
Lewisohn.
1t was this view which prompted the
writer to seek out Mr.. Lewisohn and
have him throw some light upon the
copper business.
World Consumption Rises.
His prophecy appears the more signifi-
cant because it is the first moderately
optimistic utterance which has come
in quite while from Mr.. Lewisohn, and
especially because Mr.. LewisohnS in
terests lie primarily in the copper in
duStry rather than in day-to-day fiuc-
tuationS in the price of copper shares.
THE recent improvement in copper
buying abroad" Mr.. Lewisohn said, sis
the result of a decided increase in world
consumption, despite the comparatively
small consumption in the United States.
The stocks of metal that have been
piled up here in anticipation of the
tariff and other reasons have recently
shown decreasing tendency. Recent
studies have shown very definitely that
the United States production is under
consumption.
"As far as foreign production is con-
cerned, the American tariff should prove
boon to stimulating action to halt the
over-equipment of the world, and should
act as an excellent warning in calling
attention to the fact that though cop
per consumption probably will be enor-
nous in the future, still there are limits.
1t will bring home the truism that pro-
duction must be maintained within the
limits Of current consumption.
Low Price Is Incentive.
at is an i'll wind that blows no one
any good, and the present unprece-
dentedly low price will no doubt prove
an incentive in increasing the consump-
ton Of copper. While the high levels
OF ID to "a cent copper no doubt forced
substitution of other metals, today, with
copper below cents, it is already being
reinstated for many of its former uses.
Then again our fabricators, with the
assistance of the Copper and Brass Re
search Association, are carrying on q
very well planned and intensive cam
paign to find new uses for copper. Al
ready these efforts have been attended
with quite some measure of success, and
no doubt we will feel, as general busi-
ness RECEIVERS, the accumulated results Of
this intensive work
Necessity Is the mother Of invention,
and in this age Of electricity the de-
preston is prodding our engineers and
inventors to USE their ingenuity to find.
new uses for electrical devices. Copper,
the foremost electrical conductor, will
share in that increase. Copper has
fundamental qualities that are not SUBJ
ject to mere stylistic changes, and these
fundamentals will give it an important
place in our coming industrial awaken
ing"
[Copyright. 1892. by North American News
paper Alliance, Inc1