Word: coppering
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Three things engaged the attention of coppermen last week: Union, Curtailment and Tariff. Union in the copper industry has existed through Copper Exporters, Inc.. the tight-lipped powerful U. S. selling association. Recently Phelps Dodge Corp. objected to some of the Association's policies, served a 30-days resignation notice (TIME, Dec. 7). Last week copper's united front was reunited. Phelps Dodge's resignation was withdrawn. Copper Exporters, Inc. seldom makes statements but it was understood that the selling agreements have been modified, that henceforth a member may undersell the Association in Europe. This makes artificial price-pegging...
Tariff agitators felt happy last week when the U. S. Tariff Commission reported on copper costs. Taking 1928 as a basis, it found that the U. S. cost was 13.29¢ per lb., the foreign cost 11.87¢. Decreasing exports and increasing competition were forecast by the Commission. Copper companies which want a tariff do not feel it is of immediate importance, wish to have it to fall back upon should curtailment break down...
...experimental furnace of 1 cu. ft. capacity. The crucible was lathed out of a solid block of graphite, a form of carbon which conducts electricity well. To set up the resistance he packed the crucible in lampblack-an obstinate conductor of electricity. The current was carried through a copper coil. The outside of the furnace was heat-insulated, and a temperature gradient was established through the heat insulation to a water-cooled inductor coil. This carried the heat away, prevented the outside of the furnace from getting hot and breaking down the charge coil, which had spoiled earlier efforts...
...Christmas presents Mrs. Hoover paid $80 for 40 pairs of candlesticks fashioned from the copper of illicit liquor stills. They were the product of veterans undergoing occupational therapy at Walter Reed Hospital. The Washington Police Department contributed the material following 'legger raids about the city...
There was no indication last week that Phelps Dodge would return, but since 30 days must elapse before the withdrawal becomes effective the industry hoped that some new agreement on foreign sales might be reached, curtailment made possible. Without Phelps Dodge copper curtailment could not be accomplished. President Gates made clear that he planned to be no "bull in a china shop." Conferences continued...