| Show GREAT REAT CONSPIRACY HITS LEAD MINES Large Interests Not Yet Ready I to Their Harv Harj Harvest Har- Har Reap v vest vest j l. l c FORCING STOCKS LOWER Ja Financial Depression t l' l With Banks Overflowing With Money Another illustration of 01 how depend cut ent upon the smelters Is Js the prosperity of or the mining in industry was afforded I. I yesterday b by tho slum slump of oC the lie stocks stoc's of of c SI Ie silver lead producers following time the 1 sending out by the United States Stales Smelting Refining and Mining company com coin pany of an aim Innocent letter advising ml the thc c curtailing of oC lda pio production n. n II It I is is- isi po possible that the time the effect of at the tho action cllon was 38 more pronounced cel than thC tho people had llad intended It should IL l bes be I r tb do not believe o that the Iho situation i is jg as serious a thu public Scents to hJ r is George V. of of th United t States St-c St companY In te advice we did tit we had In InI I only mint only th llie il of the 9 Tn Jt Is tha that t the die action acton quite generally taken In reducing the time output P l' l I la hi a w wise move sc mo and auth so l long long- as longas as there thero must of necessity b bo virtually the same sarno falling raluS off of In tho thio thoc c consumption n of of both metals we be- be c l ed that a similar course should be betaken I taken in rc regard to time the production of oC lc lead Should cv every curtail his output just a little Ite the time aggregate amount thus tItus withheld from front time the mar mar- t would he be considerable and amI would aid aL' aL materially Hit lr In preventing n a I tf du cu during h. h il he lite period Jl of U Demand ll Different S Sources Mr 1 Ic all admitted however that the demand demant for fol lead comes from rein sources entirely different from those which use copper The consumption of copper is largely by interests en engaged engaged engaged en- en in putting through large pr projects je j- j e t such as us electric l railroads tele- tele dc- dc phone and ant telegraph lines while the tho thel l largest lJ st use of or lead lent Is by white lead and paint factories which are e scattered scattered scat scat- all al over the country And in times lines of or depression depres slon sion said Mr 11 one one of or th the tho first thin timings things a. a man forgets to do 10 i 1 ip to lo paint lt his 1118 house I The argument Is good soot except for or th time the p.- p. Tact fact that outside of oC the large largo Interests Inter intel ests there Is no imo financial depression The TIme great Middle Ud le West Vest does due not know of or a money oney stringency The Tue Tie farmers arc are getting more mone money for their geling crops than ever before in jn the history of uC the thc country Tho rhe banks all al over the thc countr country are arc simply overflowing with mone money In the state tate of oC Kansas it I is s said sahl the lie hank bank equal Cual 75 for every evelY man maim woman and all child In Inthe Inthe Inthe the state and tho the situation is similar in the oth other states Bankers are arc wondering wondering won won- dering what they t are arc going to do co with tho money after fer tho the crops are aro mar- mar An Os' Os Ogden n banker said yesterday that his lis institution was at a this time lime k keeping on hand hanl rUl fully 60 50 rO per pel cent of the total amount nt of or Its It deposits and that a a little later the time reserve would undoubtedly go o to GO 0 per cent of or tho the I tt deposits I J if it hc present policy POlICY- is S con coil COI- COI A 50 O t per ner cent reserve reser Is just double the time amount required b by law of oC tonal n national banks s. s in reserve reer c cities In Tin Inti ti r towns towns' townsand and ana cities national banks nc need d' d not riot have have- on hand mote more titan than 15 pe per cent of or tile their deposits lo to 0 pass nass government go gov gov- nt Inspection c we can see sec lb no excuse In reason reson for keeping n rc reserve enc at this time theme said I the hankel cx X- X c rt that the lie other ban banks Its are arc doing I Which Is another l' l confirmation of f the tile surmise now general thai thal the Iho largo large lR arc playing a deep game ale that the financial depression lol Is forced Hi Big X Killing 1 Is On Mining men especially are fre he begin begin- ln- ln ning ng to 10 realize realise that a big biJ klin killing is ou on oh Dimming tho time 1 last t year eal prior to tl tOO the in III coppex- coppex there probably was not lt a copper or lead lead producing mine or or- any of-any al any note In iii the time country for COL which offers tl lo 10 pur purchase were not nol ma made e b by I rome soine un one of the time large Jarge Interests But nut I with wih the lie metals at al a a high price and mal the great amount mount of oC mining activity it ol engendered the Intel Interests ts saw that hint il It I was was' going l id td be an expensive pro proposition po- po silon to gather in enough o of t the p larger mines to tn control the tho situation Iut IY The They sUll suddenly changed bulls to 0 o l bears ars with the result already too well wel n known I It I Is 11 now predicted lJ by well well- informed mining m men n that copper coppel will willbe willbo wi bo be o f forced down 10 1 to J 0 cents a a pound with lead coi corl correspondingly low before the thc th time the Gu anti and ant the tho Standard Oil Oi interests he begin 11 the actual work or T gathering l In their harvest est of f I I cheap l and properties In the hau hands fr of weak kneed weak individual own own- cr ers cry Others Othel profess to Lo be able alle to lo de tlc led teet an un undercurrent of revival nial in the Iho financial al und and copper situation il alon which indicates that hint has ha bc been n reached alI and that hat the buying movement mu Is alou to lo b ll begun |
