Salt Lake Telegram | 1933-09-01 | Page 17 | Additional Mining News

II Additional I IS S Mining News jN N R RA A CODE TO rO TOS S ASSIST COPPER Specialists See Beneficial Developments Certain S in fl Operation By fly nm hIRAM l 1 HERTELL c Associated Press Financial Writer NEW YORK Sept 1 l Specialists 1 1 in copper who have been studying thel the l industry's future under the N R A f code recently submitted by producers conclude that highly beneficial I ers ers I developments may reasonably be ex expected expected I ex-I ex- ex in this field Marked improvement has characterized charac operating conditions in the cop copper r Industry since last Jast April In InI Inthe the domestic market prices have adr advanced ad I j r- r about 80 SO per cent ent above the t. t level existing early this year Demand has bas spurted sharply but meanwhile production has been kept well velI under controL has been A As a result consumption running ahead of output for several f months onti with a resulting decrease of stocks of metal in producers' producers hands Surplus stocks however arc are still regarded re re- t carded as unusually large io for aS a'S a S 'S healthy condition t Students of the question expect that the industry's final code will retain retain re re- x tain some method of production control con can in addition to minimum wage and nd maxim maximum hour provisions In InUs S j its Us present form the fair competition agreement classifies producers acl according ac ao i l cording to size and allocates a certain rate rate of ol production to each If continued at the codes code's prescribed prescribed pre pre- S scribed rate for a year ear domestic copper cop cop- k per per output estimated by Standard I Statistics would total tons L Domestic consumption during the eni entire en en- Iii i tire year car 1932 was tons so sc o 4 output Ut u under the code is regarded a as 1 sufficiently low to permit a substantial portion of the present excess of oi stocks of the red metal to be con In 1931 copper consumption stood at tons in 1930 the total was tons and in 1929 a peak of ot I tons was reached Thus It Itis itis SI is pointed out a return to the r rda rela relatively la restricted 1931 rate of consumption con would r reduce duce stocks under stocks under S 'S the present production quota quota quota-by by some tons S