1939-10-18 — Page 9

Daily Press 孖剌西報 All

HONGKONG DAILY PRESS

Finance and Commerce

RELATIVE POSITIONS OF Development

WORLD IN COPPER OUTPUT CHANGE

There has been a definite change in the relative positions of the United States and the rest the world in productive capacity since the world war of 1914-18. Since that time the productive capacity of the world has, been doubled and the estimated capa- city for mine output now is around 3.340,000,short tons as com- pared with a peak output of 1,580,475 tons for the entire world in 1917,"All this gain has been the result of the bringing into production large low cost mines in foreign countries, principally. Chile, Africa and Canada.

Of Sikang Proceeding

The development of the new Sikang province is, proceeding smoothly, according to Mr. T. M. Chien, Chairman of the Board of Directors of the Bank of Communi- cations, who returned from Chung- king by plane on Saturday,

A number of experts, he said.

In 1917 production of 261,016 It is assumed that the British have been sent to the province by tons of copper by mines in the Rhodesian companies, which form the "Ministry of Economics, Minis- United States comprised 60.8 perjan important part of the cartelty of Education and the National cent of the world output. On the will be subject to the desires and Health Administration to help the Governor, General Liu the government and Sikang basis of an estimated capacity of needs of around 1,100,000 tons for America output will be regulated accord-Wen-hul, develop the natural re- sources, popularise education and at the present time, the ratio of ingly.

provide the people with medical

U. S. output has fallen to roughly

33 per cent of world capacity:

However, is roughly estimated

CARTEL INCREASE

facilities.

On August 16. last, the cartel In the meantime, he revealed, that total capacity of mines in the increased its production 10 per cent the development of South-west United States plus the productive to a level of 105 per cent of standard China is also being carried out tonnages. Estimates place cartel apace. A South-west Industrial capacity of large American owned) mines located in foreign countries capacity at around 1,100,000 long Association has been, organised by is now equal to around 54,67 per tons, or 1,232.000 short tons. Of this Chinese Industrialists to help the tonnage the trade holds that the Government in the task. With cent of the estimated maximum

Rhodesian companies can produce headquarters in Chungking. this world copper mine output. This

460,400 short tons at peak rate of organisation now has branches in compared with a relationship of about 75 per cent to world output/output, which would leave T12.000 Kunming and Kwelyang while an- short tons for the other members of father branch at Kwellin is under the cartel. Of this remainder the formation. " American owned Chilean and Mexi-

In 1917.

SELF-CONTAINED

As a result of several major cop can mines probably account for per mine discoveries in Rhodesia 600,000 short tons or more.

question of mines operating under and Canada during the past ten The capacibles as estimated give duress. an which case production years, Great Britain has become an indication as to how the post-might be increased to a marked self-contained in this respect and tion of world copper production has degree by more selective mining. It is the belief in the copper changed over the past score of that is the mining of ore where the industry that the British Empire years. Another factor that might content is known to have a higher

can produce sufficient copper to alter the estimates would be the percentage of copper, take care of its war needs,

Estimates" place capacity produç- tion of the British Rhodesian cop- per belt at around 39,200 short tons per month, while Canadian output recently was at a top, of around

27,000 tons per month.

Such output would be, equal to about 794,400 short tons per an num, and combined with incom

· plete estimates rest of the British

annual . capacity of least 931,000 short tons is indicated.

the same basts От

production from these sources in 1938 totalled 564.162 short tons. Of this latter total. Canada accounted for 290,200) tons and Rhodesia 237,362 tons.

ADDITIONAL CONTROL Assuming a total capacity of at least 931,000 short tons for the British Empire, and an estimated total peak production of 1,826,000 tons for the United States and American owned foreign mines there is an indicated control by these two countries of 2,757,000 short tons. This would leave about 583.000 shprt tons for the rest of the world, and in 1938 Russiati output was placed at 108,000 tons, and Japan at 84,877...

While there has been no word re- ceived from the foreign copper cartel as to its intentions as to pro- duction for the future, it is bellev- ed in the trade that the declaration of war by Great Britain will result In removal of production restric- tions

HONGKONG SHARE QUOTATIONS

STOCK EXCHANGI

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£201 Marcantile Rka. "A"

Hank of East Asia, ...

IN. C. & B. Banks...

Insurances

3202 Canton Insura

$385 Union Insurances $11

Underwriters

$170 R.K. Fires

Godowns, etc.

$101.K. & K. Wharves❘ $100

Providente

Providants {new} /****

H.E. & W. Deoks...

Do. (now)

#125 Shanghai Docks 8. ..

818

FINANCE

Hongkong

WEDNESDAY, OCTOBER 18, 1939. -PAGE 9

Daily Press Brooke Bond

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