Salt Lake Telegram | 1939-08-28 | Page 9 | Experts Map Metal Outlook

EXPERTS MAP METAL OUTLOOK Optimistic as regards some metals metals metals met met- als but reporting on hard blows taken aken by others experts discussed the he outlook of the metal mining Industry at Monday afternoons afternoon's business session of the American Mining congress's western divisIon division divi divi- sion slon convention The lead market In the first half of 1939 was marked by remarkable remarkable remarkable re re- re- re stability of both domestic domes domes- tic and foreign prices reported Andrew Fletcher vice president and treasurer of the St S1 Jos Joseph ph Lead c company of New York Sales of lead as reported by the Lead Industries' Industries association for forthe forthe the he first half halt of this year were tons a monthly average of tons This was 24 per cent better than the to tons sold into In Inthe inthe the to first six months of 1938 Mr Fletcher refuted reported beliefs that a definite prospect of world peace would be detrimental to lead We believe with the absence of general war and restoration of ol confidence consumption of lead throughout the world will be accelerated accelerated accelerated ac ac- ac- ac he said Reviewing copper production for forthe forthe forthe the last 10 30 years P P. P G. G Beckett vice president of the Phelps-Dodge Phelps corporation reported It was diffIcult difficult dif dlf to predict at this time whether domestic consumption will again rise to the of 1929 Any consideration of the pros POS for copper must have due allowance for changing conditions In n business he said The demand for copper in this country follows general economic conditions He said continuance of the copper copper copper cop cop- per tariff has again steadied the relative prices on domestic and foreign markets Gold Production Up Gold production of the United States in 1939 will exceed that of 1938 by more than fine ounces predicted Merrill E. E Shoup president of the Golden Cycle corporation cor con of Colorado Springs Colo The world outlook for gold in 1939 points to the same upward trend which has risen steadily from 1929 through 1938 he as asserted as- as He predicted world chaotic conditions conditions conditions con con- cannot continue and that nations will return to tos to the gold standard which he called the strongest basis for international gold will A possible solution f for r solving troubles of the he zinc industry Is raising the worlds price level for raw materials by the international adoption of of- trade and m monetary p policies that will permit free interchange Interchange interchange in In- I of raw ma material I producing countries countries' and those depending on manufacturing reported E. E H H. H Snyder general manager of the Combined Metals Reduction company of Stockton Utah Zinc Sick I Reviewing figures Mr Snyder held that even those persons not nol associated with the zinc industry should be able ble to agree that any industry suffering an average re reduction reduction reduction re- re in gross income of 53 per percent percent percent cent 10 over years is sick Other speakers were R. R C. C Allen president of the Lake Superior Iron Ore association Charles H H. president of the Ne Ne- vada-Massachusetts vada company and Senator Key Pittman of Nevada