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Show PRODUCERS' AGREEMENT OUTLOOK GOOD' ON RESTRICTION OF COPPER PRODUCTION . Mine Owners Approach Accord and Higher Prices for Red , Metal is Anticipated; Cost of Production Much Lower than Formerly; Building Industry Saves Copper and Zinc from Reaching Lower Price Levels. Within the past few days, it haa been indicated on a number of occasions that the large mine owners are nearing an agreement to in sight it can safely be predicted that a raise in copper and zinc restrict the production of the red metal. With such an agreement prices can be looked for Boon. . : . - . While metal market condition If serious, it Is not as serious with respect re-spect to copper as It is other metals. met-als. Producers can make money at lower price for the red metals than at any time since the present wage , scale went Into effect. Demands tor electrical equipment have done much to permit the working of ore bodies under present conditions. - Copper men now are convinced that ore can be mined profitably at a depth of 6,000 feet or more and are making preparations to operate at that depth in the Butte and Coeur d'Alene districts. The building Industry Is aiding copper, lead and sine, says a recent article by J. C. Royle, financial expert. ex-pert. "It is estimated that in the last year 275,000,000 pounds of copper cop-per were used In building. The gal-vanltlng gal-vanltlng of steel sheets for building while lead also Is vitally affected. The steadiness of the construction Industry Indus-try has been a saving factor with the anetals. Prospects for. higher. silver, prices : are not so ' encouraging, says Mr. Royle, world production Is heavy and shows no signs of diminishing. Silver ' ' prices are 10 cents an ounce under ', those of a year ago , World stocks are about 25,000,000 ounce larger -than at 'the beginning of 1926. Stocks in the United States are around 605,-000 605,-000 ouncesuwhlle stocks at Shanghai are ' approximating 140,000.000 ' ounces, while stocks at Shanghai are , approximating 140,000,000 ounces and Indian reserves are nearly 880,-000,000 880,-000,000 ounces. , '......'"'. Mr. Royle takes the position that producers of copper and other non- ferrous metals should get together as soon as possible in proper restriction of the metals. Producers, he de- clare, have made great strides In the cutting of costs and the improvement of methods of production, but "they ' are not getting the full benefit of them because they have not been able to reach accords' on the restriction restric-tion of production. In other words they have learned how to produce . more copper, lead and sine and some . other metals, but have not learned how to Increase consumption and sales to an equal degree," ' 'TV' Mr. Royle, however, la of the opln ion that q 'agreement of this kind is now being worked out between the large producers at meetings In the east. M. -V. i. I--' f ' ' Should such an agreement prevail, it will mean higher prices for the metal, which must of necessity mean v . more work and a greater increase In business for Bingham and vicinity. |
