Show COPPERS COPPER'S INCREASE LESS THAN NOR NORMAL fAl Consumption Increase Averages Averages Averages Aver Aver- ages 10 Per Cent a Year Output Less GAIN CANT CAN'T BE GREAT I Must Come Largely From Utah Nevada and Mexico Mexico Mex Mex- ico in Future In in In times of temporary financial str stress Ss people are prone to look upon the dark sJ side o only they refuse to believe bellevo be be- lieve that this great grent countr country will ever evera a again ain be bo doing business in the good old ld wa way To such uch the latest comments corn com ments of ot George GeorEe L. L Walker on com j the copper situation afford food tood for hard thinking Mr Walker alker in iii dealing with future marl market et proba probabilities bill ties delves Into history to show conditions thAt have havo obtained In the tho past over o given terms of oC years vears He finds that the worlds world's consumption of copper Increases ses more than ten per pcr cent annually on the era n average e while In no human probability can n the production of ot tho the metal bo Increased at that rate for a long time timeto to come Consumption of or copper fluctuates iio vao-ng vao conditions uno Is 15 often cut down do sharply at times when a n yel very high market marlet price encounters on- on counters a trade trado reaction as ns It did six ix months a ago o. o Between 1883 and 1898 1808 tho the copper production of the world cost about 0 9 cents and the time average average aver aYer age age selling price was vas about 1 12 1 1 I cents This was a a. normal and fair fall business profit Since the last date named the me uses for or copper have hac Increased in increased increased In- In creased very en reath In number and the tho lo-el lo electrical dema demand t alone ins has more than doubled Since 1898 the average a price of or copper has been 16 ill cents and the average co cost t about 10 cents The avera average f profit therefore has been twice as great during the past pt nine years ears as it Jt was waN during the preceding fifteen years ears The Time higher irice caz bo he explained in but one way It is 15 due to Co th the tact that lIat the con consumption demand has IncIe Increased ed very crr much more rapidly than production a fact which was made especially prominent b by the th advance in he price of the m metal tal tc 26 6 cents per poun pound this year car Though stimulated b by prices which have han yielded an average a profit of ot 5 per cent to per cent over oer th the cost costo o of production the tho output of or coppel has not maintained its normal growth of ot 10 per cent annually durin during the past fe few years When the worlds world's production production tion was pounds pound annually It required only a a. slight ht expansion lo by a. a voId few old mines mine and the opening oi of half a a. dozen new ones to provide pro the poun pounds s needed to make U ur the 10 per per cent increase the orld's w-orld's min s putting out 0 O- pounds yearly vearly however howe a new ew Calumet Hecla a North Butte Dutte nd an Old Dominion or ot their al equivalent t must be developed and equipped e cr every twelve months to k keep ep up the 10 per percent percent percent cent annual Increase le pace It willbe will willbe be he several eral years ears before all the new producers of hum and Ely combined com will I he able to put out an aggregate aggregate agre ag ag- ag- ag re of pounds of copper copper cop cop- per annually very ery or few copper districts are arc being opened up Those who have been In Interested In- In l. l in mining during a decade arc well vell aware of the fact that Itt It 11 t lakes ks k's a great many thousand wildcat promotions to make one mine and also that oven even the prospects developed devel devel- under the direction of ot th the most successful sul mining talent often otten fail fall of re results It will be lE a n great man many years earE before beten Ala Alaska lm pounds of or copper to marl market et annually Arizona's production will not Increase 10 per cent yearly oarl again In the lifetime lifetime lifetime life life- time of or the tho pr present ent generation The big gaIn In output must como come from Utah Nevada Ne and Mexico an and It I IF improbable that thc these e combined will wll l be he able to increase the worlds world's production pro pro- an average of ot 3 per cent gent annually an an- Dually during the coming ten years Hun Hundreds of electrical enterprises enterprise are arp awaiting organization or extension extension exten exten- sion until such times th as the companies can sell their bonus bonds 1 air Mr 11 Walker Valker says ays and with the prospect of or the tho financial situation there 11 la is 1 well found found- fd eu d hope for tor the future of or the copper marl market pt |