OCR Text |
Show supplies that not so long . ago came into damaging competition with domestic production. The new foreign outlook promises to assist in the maintenance of the domestic lead industry's close relation to domestic affairs, af-fairs, so that lead producers may reasonably expect to share in whatever good fortune comes to this country generally in a material ma-terial way. 1 , - - - . T- - -: . Lead Outlook Seems j : Belter Than Usual ,' " ' '. ..By A. G. Mackenzie . - i ; . .... . Secretary of the Utah Chapter, j . American Mining Congress . - Lead is less directly dependent .Ton -foreign cojiditions, than our "i- t; : y , ( other leading Utah metals for ; v t! reason that United States 1 . " - in oduction and consumption of s J; , load are so nearly equal that the ' A f .domestic market is able to ab- i ft . soi b sibstantially all the domes- f tic production and usually does l t - so- r -VJ. v . It follows, therefore, that the L J.' position of lead in the immediate " ' future will be that of business ; t- r-""' an( 'n(ust;ry m this country gen 1 .xjt; ( . . erally; The relation between '4 .' . ' laad and the arts and uses of " ' h , . civilization are so comprehensive x - that even a brief and incomplete I i allusion to its utilization will in- 1 ' dicate why the welfare of the ' i metal is intimately associated , x with the general business and in ' dustrial situation. . . f J '. . It is an essential element in '. i r :" many of the most important ' . j ' ; - products and processes and a pre fen-ed material in many others. j Li . Its larger and better known uses -U include paints, pigments, roof- j v , ' ing, plumbing, sheets and bat- i teries. It is also used extensive- ly. in the production of babbitts, i - solders, type metal, ammunition ij oil, glass, rubber and musical in- , J stmments. The' average citizen "jlL is almost constantly in touch U I with it. It is in his rubber heels S' w - and his eyeglasses. His morn-l morn-l -ing bath comes through a lead M pipe and the metal is represent-' represent-' j I ' ed in the glaze on his breakfast dishes, in the linoleum on the : floor and in the rubber stem of 1 1 the pipe he smokes. Uses Universal . ' It starts . his . automobile ' and . , also h represented in the tires, ' l.mps, radiator, insulation, hose, V ' ; ' fuses, bearings, enamel and ma- . ny other parts of the car. If he . , takes a street car he is depen- ;.. ' dent for the ride largely on the - - "..- : ,lead in the car construction and in the power house, where lead V , also will be found in the belting, " . packing, and elsewhere. It is in i - his raincoat and protects the wires that give him his tele- phone service. It is used in vast ' quantities in the chemical in dustries that furnish so much 2 that he employs in his business . and at home. ... . The consumption of lead keeps " '-' well up with production and it . - i stocks seldom exceed two or three months supply. It is some : : 1 times said that there is a season 1 k -. al demand for lead and that the price fluctuates accordingly with 4 ; ' ,. more or less uniformity, yet a glance at the accompanying statement of the monthly highs and -lows, since 1913 indicates that this is not the case, and ; that it responds rather to imme-'. imme-'. diate business conditions. High Low ' 1913 ...J.-Aug. Dec. , ,1914 -Feb. . Nov. v ". - 1915 June - Jan. 1916 April Jan. . 1917 : June ( Nov. 1918 , June to Nov. Dec. ' , 1 1919 Dec. May J 1920........... ...Mar. & Aug. Dec. ; . 1921..... Jan. & May Mar. ;. 1922 Dec. Jan. to Mar. ' " - 1923. ; ., Mar. . July . " 1921 Dec. .July - Outlook Favorable . It' will be noted that every v L. month in the year is represented represent-ed in the annual highs and seven sev-en months in the annual lows in i .- the period covered, a period in '.' ' which the industry has exper- ienced some of its best and its -worst times. ,; The man who can give the best forecast as to general busi-. busi-. ': ' - ness conditions in the United States can give the best fore-". fore-". cast for the lead industry. My - own conclusion is that the out-"', out-"', look is favorable. I do not as-: as-: :. sume that the present high ' - - prices will prevail indefinitely, as similar prices in the past have in time, brought foreign supplies into; the domestic market, in spite of tariff protection. A new factor favorable, to us is that J i Europe shows indications of con " structive activity long postponed, postpon-ed, whicli-may absorb foreign |