Copper Revival

One of the sensations during the past week was the new signs of prosperity for copper. Practically ever since the high war-time prices resulted in open-ing so many new deposits that demand was soon swamped, the industry has experienced a condition of suspended animation. Only the richest deposits, with lowest production costs, really paid to operate. Even Anaconda, premier American company in size and scope, has had difficulties.

Now, however, an undoubted revival has set in. January proved the second largest month in the history of the industry, in respect to domestic and foreign copper shipments of North and South America, and totaled 215,000,000 Ibs. Foreign shipments have averaged about 80,000,000 Ibs. during the past four months. Stocks have increased during last month by 9,000,000 Ibs.

The movement did not attract general notice until the price of copper in New York and London began to climb, and until copper shares in Wall Street began to advance even through a generally declining stock market. Meanwhile all is not peaceful in the American copper industry; considerable dispute has risen over a proposed tariff to shut out cheap foreign production. Every copper company is taking sides according to its interests. Leading companies to suffer by such a tariff are: Anaconda, with extensive production in Chile through ownership of the Chile Copper Co.; Kennecott, which owns Breden Copper, also in Chile; Phelps-Dodge and Green Cananea, with hold-ings in Mexico; and Granby Consolidated, in the properties in British Columbia. Many of these companies also have American mines.