NICKEL MARKET

Hokitika Guardian, 7 December 1928, Page 7

NICKEL MARKET

CANADIAN CONTROL. SAN FRANCISCO, October 31. Canadian control oi International Nickel, gained by a spectacular battle on the Stock Exchanges oi Toronto, .Montreal, and New York, is but a part of Great Britain’s policy to insure world peace by dominating the source of supply of one ol the essential implements of war.

While the public watched the sensational rise of nickel on the money markets—Jfroin 80 to 190 dollars per share —the significant move back oi it all was a British fight for-peace, and the results will lie world-wide, lhe skirmish in the world’s drama ol peace was fought on the money markets. It had been under way tor several months, but all the public saw of it was the gradual rise of nickel and mid-Oetohoi fireworks when tremendous daily increases in the price of the stock were recorded.

The general story, which gained credence in New York, was that it all began nearly two years ago when the British Chemical Commission made its report to the British Government. Sir Alfred Mond (Lord Melchett) was chairman of the Commission. Two points of marked significance to the British Empire and to the peace of the world were indicated by the commissioners. One was that during the Great War Canadian nickel went to the United States, and prior to the advent of the States in the war it may have gone to Germany. Charges were freely made at the time that it did reach enemy territory.

The second discovery was that in tho event of future wars the British Empire would be in a bad way so far as copper was concerned. So the wheels began to turn. British interests iound a source of copper in the lorm of a contract with Noranda mines in Canada. Then Canadian interests gained control of International Nickel, wresting it from Uncle Sam through market plays.