Political and commercial geology and the world's mineral resources
Science
Political and commercial geology and the world's mineral resources
Geology, Economic; Mines and mineral resources
The electrolytic refinery control of the copper production of the
United States is shown by the 1917 figures. In that year the production
of electrolytic copper was 1,452,744,593 pounds; of Lake copper, 238,
508,091 pounds; and of casting copper, 152,293,487 pounds. Electrolytic
copper thus constituted 77¹⁄₂ per cent. of the total.
_Control Through Selling and Distribution of Copper in Finished
Form._--Groups owning mines, smelters, and refineries invariably also
control or own the selling agencies that distribute the product to
the consumer. In these cases, control through selling is the same as
control through mine ownership, but is increased by the copper in ores
received at custom smelters.
Control through selling, then, is identical to the control shown in
Table 38, so far as groups 1, 2, 3, 4, and 8 are concerned, if certain
additions at the expense of the other groups are made. But every
producer of Lake copper controls the sale of its product, because Lake
copper needs no electrolytic refining. Hence in groups 5 and 9 mine
ownership and control through selling are identical. This is a fact of
considerable interest and confirms the fact of control through refinery
ownership. Groups 6 and 7 (Table 38) are large producers, and although
they do not own refineries they are able to control the sales of their
product. The refineries are willing to refine their copper on toll and
return the marketable copper to the mine owners, who make sale to the
trade. Groups 2, 3, and 7 now control copper even further, as they own
brass mills, wire and rod mills, etc. They manufacture a part of their
production and sell it as copper wire, finished brass, etc., instead of
making sales to the brass and wire mills of ingots, bars, cakes, etc.,
which is and has been always the general practice.
There remains to consider the control, through selling, of the six
uncertain groups (total production 63,820,173 pounds) and some of the
134,458,614 pounds of copper produced from custom ore. A large part of
this, as noted, is lodged in groups 1, 2, 3, 4 and 8.
For many years three concerns affiliated with the German metal combines
(Merton Co. and Metallgesellschaft, of Frankfort-on-the-Main, and
Aaron Hirsch, of Halberstadt) have been active in the copper business
of the United States. Their activity has been confined to selling
of copper produced in this country, and to ownership and selling of
copper produced in foreign countries but brought to the United States
for smelting and refining. One small refinery is or was owned by this
group in the United States, and two smelters, treating mainly foreign
ores. It also owns smelters in Mexico and South America, and had close
connections with two large refineries in New Jersey, so that it sold
all the electrolytic copper produced by one plant and an important part
of the production of the other plant.
Public-domain text, read in full here on John Shaqi.
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