OCR Text |
Show true that the mines of this district dis-trict operated last year when the price of lead was lower than today but at that time lead producers pro-ducers had the decided advantage advant-age of fl.00 per ounce for their silver, while now they are receiving re-ceiving more than a third less for that product, the price of silver now being a little better than 60 cents. cording to those best informed on the situation, the slump in the price of lead is due to the decline in the' London price of the metal, making it possible to ship foreign lead to the United States more profitably than to Europe, in spite of American tariff and other barriers. The drop in the price was therefore necessary to check the movement move-ment of foreign, lead to the American market. From this it appears that the future price will depend upon the conditions of the foreign market, advancing advanc-ing or declining in accordance with the London price. It is ' DROP IN PRICE OF LEAD, IS DISCOURAGING According to latest reports fifteen thousands .miners are Idle in the lead and zinc mines of Joplin, Misouri and about '. ninety per cent of mines are closed down on account of the low price of lead and zinc. Just when we were congratulating ourselves that the price of lead had reached a level at which foreign lead could not compete in the American market, at the same time insuring a good profit pro-fit to domestic producers, the price began to decline, first to 7-cents and now to 6 cents. Ac- |