OCR Text |
Show CURTAILMENT PLAN IS APPARENTLY NECESSARY When the large . copper producers agreed last summer to effect a reduction reduc-tion In output, to overcome Ihe large surplus of bullion that was then burdening bur-dening tho world market. It was the understanding, un-derstanding, so It Is generally staled, that the curtailment policy would remain In force for one year. This, therefore, means that the restriction of production will-cease August 1 unless a continuation of the agreement should bo arranged. Thero Is no doubt that the potential capacity ca-pacity of tho principal mines concerned In this agreement Is greater than the actual production of tho last I en- months, so that, unless tho business of the world Is sufficiently increased to absorb tho possible output, tho furtherance of the producers union will probably be necessary neces-sary to prevent demoralization. If mine production Is hold in restriction until August, a condition of glut will hardly be reflected In the refinory figures until well along In the fall, and by that time the expected revival In business activity may bo upon us. Mining Science. |