Salt Lake Telegram | 1949-07-16 | Page 2 | Falling Prices Peril Supplies of Metal, Says O'mahoney

. - . Falling Prices Peril Supplies Of Metal, Says O'Mahonoy stiffening but st tresis weO beiew thoee of wartime, H aaid marginal mm producers ar pinched by the low prtcea. Mercury and antimony amines ar threatened with aaUneUoa and' tungsten mine are opera ling ta the red, he added. The Mn ta eet up mm tosceei-tlv tosceei-tlv payment division I similar te on vetoed by the p reel dent four yeara ago and a bib see botttod up ta the hous rule oommirte. WASHINGTON, July 16 (UP) Chairman Joaeph C O'Maboney (D Wye.) of the eenate interior committee warns that th. nation's domeetie supply of strategic materials ma-terials la endangered by falling price for th metals. O'Mahonoy called Dr. James K. Boyd, director of the bureeu of minea, before the committee Friday Fri-day to dlacuaa the drop la domeetie mining production and resultant unemployment. The committee also dlacuad bill to stimulate sxplorsUoa, production pro-duction and conaarvaXlon ef tra-teglc tra-teglc and critical ores, netala and minerals. One proposal would ereat a mine Incentive payment division within the department of interior. O'Mahoney eaid the committee j will call In repreeentativea ef the ' i national munition board and other federal official, te) discus mean ; of maintaining production in mi a- ing area and keeping up employment. employ-ment. Boyd aald that th metals markets mar-kets have beea hit la recent months by and drop in price. He aaid there have been aom Indication In-dication recently that prices ar