Show i I i I I I COPPER PRICES MAYBE MAY MAYBE BE IE LOWERED BUT SPELTER TER WILL WillBE BE fIRM Mining men of oC the West wu who have been apprehensive over ovel the lie existing high price of ot spelter claiming that It was abnormal may he be surprised d to I learn arn that tha t tIt It is 18 expected to maintain tho present level It ma may also cau cauto e some somo to wonder wonder wonder won won- der when thc they learn that prominent In Interests Interests Interests In- In look for Cor or lower lowe levels for copper metal An official of oC one of or tho th largest Industrial corporation In the them United States State which annually con consumes umes large tonnages of ot copper and spelter expresses his view on these metals as follows The rl rise e of ot nearl nearly 4 1 cents lent a pound In the of or copper which has oc occurred occurred oc- oc In the comparatively short space of f three months Is not Justified b by condItions conditions con con- In tho the Industry The drop to Hi In cents shortly before tho the war was due to 10 distress dIstress' sales sale for of ot producers who were short of ot cash but the tho advance to o ii 11 cents has been atto altogether ether too rapid to 0 hold General business Is I too poor to create reate and sustain a demand for Cor copper at tt almost 15 cents per pound and I beco belie be- be lie o c c v we c shall see ceo cent 13 copper before I the he price touches 16 cent cents Copper consumption in this country Is S not much In excess of or O 0 per cent of oC f normal and even though production was vas greatly curtailed the producers are aro getting ambitious to take advantage e of or orthe the tho higher prices now prevailing InK and arc commencing to Increase their output The Tho result will be that unless business picks up T In this country copper will begin to accumulate a and nd down will go JO tho the price i A lot of ot talk is heard about time the bl big Improvement In hu business lne 3 but while I be beleve believe be- be lIe lieve Mich uch Improvement I Is coming it has hasiot not yet ct made itself felt in our line lne We Ye ordinarily use twice as ns much copper as wo vc arc consuming consumIng today toay and our case Is II not mot unique by any means mens Th The Steel corporation which at the worst of or tho the depression was vas down lown to 10 about 40 O per percent percent cent of or normal ormal has not yet el got hack back even to 50 30 per cent Tho The copper producers handled the situation sit sit- lation with courage courage- when the rare war broke roke out but It I will wi be unfortunate If Ir there here Is a general increase In Iii output be before be- be tore fore such time timo as consumption is I on a sufficiently large scale to warrant ItIn ItIn It It In Ep spelter le the situation is different because be- be cause a substantial proportion of oC the thc worlds world's production Is la arbitrarily cut off oCt and while there tImers may be he a disposition on the part of the German American German German-Amerian sellIng sell sell- sellIng In Ing agents to make England pay hl high h prices priN their no position is 15 Intrinsically strong because until unU tho war Is over no large largo In Increase Increase In- In crease rease In production can be counted counte on Eight bIght cents per pound for tor spelter Is high of ot mf course COUle but I do not look Jok to for any im immediate Immediate Im- Im mediate from Crom drop that level le et |