Please wait. Contacting image service... loading

Article text

THE WALLAROO MINES
Directors Meeting To-Day. (-
From a State as well as from an individual,
and a company, standpoint, tbe fresh
crisis which has. arisen in connection with
the copper mining industry of Yorks's
Peninsula is grave. As was clearly explained
in the statement of the gem
manager (Mr. EL Lipson Hancock), in '
Register, on Tuesday, the company cannot
continue working on the basis, not only of
no profit, but of an actual and serious Joss,
on -every ton .of copper produced. It'is
another of the-many economic questions
which beset-the Australian: mining industry
generally today; . Either the price of the
metal must rise appreciably, or costs be
reduced considerably, to make ends
meet. The problem. is- to - do
the best possible in the circumstances, in
the best interests of a31 parties. At present
the company is working on "the baas
of 11/ a. day for unskilled labour. As
was stated in The Register .on .Tueedajthe
unionists on Monday night, resolved
to accept thai as the flat rate for skilled
labour also, with fluctuations when the
copper, market improves. This, was
placed before tbe directors of the comsany
at a board. meeting in Adelaide on Tues-
afternoon, lbe general manager of
the company- (Mr. .H. Lipson,HancodkV explained
to the (board wjbat this would actually
represent in the matter of reducing
costs. .
$