OCR Text |
Show LAKE STRIKE IS BAD FOR THE CONSUMERS George L Walkr r has the follow ing to Bay in hi6 August 1 copper letter "From the standpoint of the copper consumers the strike of the minors in the Lake Superior district at this particular time is a most unfortunato occurrence It follows immediately upon tho heels of the strike at the Nichols refinery, which tomporarlly curtailed to a considerable extent the output of electrolytic copper These occurrences have so checked the Incoming In-coming supplies that a severo scarcity scar-city of ready-to-use copper is likely to be experienced within a few weeks. The producers whoso outputs are roming along naturally state that they are finding buyers ready and eager to take every pound they hae to I sell "The nineteen producing mines 'closed by the strike are Ahmok Allou-I Allou-I ez. Calumet & Hecla. Centennial, Copper Cop-per Range (Baltic, Trimountaln and Champion). Franklin. Isle Royale, ! Lake ( opper. Muss, Mohawk. Osce-I Osce-I ola. Qulncy, Superior Tamarack, Victoria, Vic-toria, Winona and Wolverine. These mines produced last year about 217.-000.000 217.-000.000 pounds of copper or about 10 per cent of the worlds output K may be figured, therefore, that whilo this strike continues it is cutting off a production of 697.000 pounds per working day. 4.182,000 pounds per week and 18.100,000 pounds per j month Of course this cannot be raaJo up after oper;i,1ons are resumed i for even If 'ho strike collapsos completely, com-pletely, or If It settled otherwise. It will result In no larger productive capacity than existed previously Therefore the strike is certain to exert ex-ert a strong influence to advance the market price of copper, especlallj II It Is long continued ' |