Show MUST COME COMEDOWN DOWN DECLARES I MINE OFFICIAL Head of One of Country's I I L Largest Copper Companies Compa Compa- nies flies Discusses Situation II j That a reduction In wages and topper copper costs costs costs' I will follow sales siles of the metal at 15 cents centi a pound was the belief bellet expressed by the dent dent o 0 fon tone font of the country's largest copper copperI I mining companies in New York a few days ago i Th This Is official says i Materials are already somewhat under 1 their recent peak Wages ages must come down I and this is likely to occur before the end of I Ii the year Miners s a are being P paid on the i I basis I of 26 cents a a. pound u for r copper and at I II in tn fl some instances even een higher yet we are ue able to do only a small business at 15 cents I i The sliding scale wage Is all alt very well wellin wellIn In theory but It works work only one I way and that entirely in favor of oC the mine mineI I Workers Following the armistice wages In InI I some camps were lowered as provided In sliding scale ecale agreements agreement but the they were quickly boosted 1 SI a day again owing to I high living costs I The copper situation Is not rosy and we weare weare are still turning out more metal than Is isI I being consumed and with production on a aI basis of ot no more than 55 per pm cent capacity I I I see as aa a hopeful possibility the passage of a peace resolution by congress at Its Us next I session cession which would permit resumption of business between Germany and th the th United J I States e Before f the w war Germany was a. a our ourI eer Gt I op J best copper customer t and d today d that coun- coun O I I try could use large quantities of oC the metal I i but the present cost on a cash basis is pro pro- e I I J have heard from prominent bankers that there Is a possibility of Germany floatIng floating float float- ing log a large external loan and there Is not j much doubt In their minds but that It would sro eo o through h with flying colors with the I German elemont element In this country the largest I subscribers It i Is not Improbable that In such an event It would be stipulated that the funds so rah raised ed would be retained here as a credit for the purchase of raw materIals mate mate- I rials nab The effect on German marks In the I foreign exchange markets would be Immediate Immedi I ate att One thing is ts certain if the present dull period Is long maintained there U is likely to be a general passing of copper dividends In the next few months and such a step would be tho conservative course to follow I |