OCR Text |
Show METAL SLUMP DAMAGES ALL BUSINESS. Boycotting times in India and war times in China have wrecked the silver sil-ver market of the world, according to Robert E. Tally, president of the American Institute of Mining and Metallurgical Engineers. He stated that the two countries named take 80 per cent of the silver produced in the world. With this market gone, silver sil-ver has fallen to its lowest price in history, 25 cents an ounce. "This condition is reflected in other minerals," Mr. Tully declared, "and i no one can tell when the market will ; be normal." Mining has been particularly particu-larly hard-hit by the wrorld depression, depres-sion, copper now being about 10 cents a pound. Any program looking to stabilization stabiliza-tion of the metal market should be encouraged by the United States for it is one of our basic industries upon which prosperity in many of our states depends. |