OCR Text |
Show THE COPPER IEAR Durnlg 1930 the copper Industry was severely affected by the world wide Industrial dereaslon. Both production, pro-duction, and consuuiptolu took sharp drops. In 1929 domestic production of copper totaled 1,983,000,000 pounds, as compared, with 1,485,000,000 pounds In 1930. However, at the end of 1930 about 607.000,000 pounds remained In rtock, more than double the reserve of 300.-000,000 300.-000,000 pounds at the end of 1929. And where 903,000,000 pounds of the metal were exported in 1920, only 081,000,000 pounds wont a-broad a-broad during 1930. This is the old story of over-productoln over-productoln and decreasing eonctimp-tlon, eonctimp-tlon, which has demoralized a number num-ber of other industries. In the case of copper, Increased demand may materialize In the nenr future, hu. it is doubtful if It will 1 sufficient to absorb present production, and take up the existing surplus. The only cure for the condition Is curtailment, cur-tailment, and mining leaders are now seeking to put into effect a scientific production program that will give the industry a chance to re-establish itself on a living basis and bring normal prosperity to mining mi-ning communities. |