Show I Copper Burden Is He Heavy vy I By Ira C. C Tichenor Tichenor- Iky H HE indications are that a deadlock exists between the American TH T B 1 copper producers and consumers The latter taking advantage advantage advantage tage of the fact that producers are unable to sell any considerable amount of the metal to Europe owing to the adverse exchange I situation and the absence of ot credit arrangements are holding bolding off oft In the expectation that the producers will be compelled to lower the price while the producers are refraining retraining from taking such action In hope that something something something some some- thing will happen to put life lite Into their foreign trade and that the American I consumers will be starved Into making purchases In the meantime the stocks of ot the red metal are Increasing to such proportions proportions proportions pro pro- portions portions that the burden of ot carrying them Is becoming exceedingly heavy with the result that cash balances are being reduced In some Instances Instance's to toa toa tola la a point where the declaration of ot dividends is becoming a a. matter of ot doubt lit It It Is ia stated that in several instances recent dividends have been paid out ot surplus surplus and it is reasonable to expect that other dividends will be reduced d. d The average cost of ot production today probably Is near 17 cents a no pound and nd selling price of ot 21 cents represents a rather small profit which is further further fur- fur ther ther reduced when tho the carrying charges are considered Although copper production today is not to exceed 75 76 per cent of ot the I normal the expectation Is that unless conditions change In the immediate this percentage of ot production necessarily will be reduced However the producers are hopeful that following the signing of ot the peace peace treaty by America which now would seem close at hand credit arrangements arrangements ar ar- ar- ar will at once be made when the demand of ot Europe for tor copper and which is known to be immense can be met When this condition is realized i as lilt it certainly must within a comparatively short time the copper industry will come into its own and American consumers now now holding off ott for tor lower prices will be glad to pay much more than present quotations for tor needed metal |