OCR Text |
Show FOREIGN li! ORIMSPELTER That the present pr c of spelter 1' resting upon a sound economic basis is indicated by the government figures rela tlve to -the exports of that metal which have just been published As against an average export b this cou try of around 10 000 000 pounds a year these show an export last year of 1-9 431 000 pounds of which 120 73 000 pounds were exported in the last four months of the year Here Is Irrefutable evidence of a bona fide reason for the present price of spelter In spite of a record breaking production there must have been a severe shortage in supply last year although the foreign demand did not spring up until practl cally the ttrst of September Production Is estimated at 720 000,000 pounds' and consumption at 6'6,000 000 pounds, Ieav Ing an exportable surplus of 94 000 000 pounds As exports given by the govern ment amounted to 129 000 000 pounds, stocks must have been drawn on to the extent of to 000,000 pounds. Moreover It Is doubtful If this tells the whole stor as there is good reason to believe that there were the exports to Canada and through the golf ports not covered by the government figures. The suggestion, however as comejed bv these figures of what may be expected during this year with a continuance of the war is of course the Importan thing It Is to be expected that every effort will be made to increase production and this may perhaps, be taken at 800 000 000 pounds an Increase of 80 00 000 pounds over last year's record breaking output Domestlo consumption promises to be fully ks great as that of last lear while eontlnuam.e ot exports at the rate oX the last four months would amount to 360,000 000 pounds These figures would give us the follow Ing results Pounds Domestic production 800 noo 000 Domestic consumption 62b 000 C00 Exportable surplus 1 4 000 000 Foreign consump Ion merlcan spelter at rate of last four months 1914 360 OOO 000 Shortage, 1SS 000 000 |