Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1845-10-11

WAsHrssros, OcronER 2, 1916.
Messrs. EpIroRs: The correspondent of the New York
Journal OF Commerce furnishes that paper with or-
nation in relation to the mineral region Of Lake Superior q
great interest 70 who about to embark in
mining enterprises in that country and by transferring the
article your columns you will oblge number Of subsc
beers to the Inteligencer. Yours.
WAsHISeroS, SKpTEMBER 2s
We learn from Lake Superior that aid of tina active prs
partitions which making for mining, spring. there win
be considerable sailing vessels on the Lake
Some companies, possessing actual capital and skill and en-
tepise, looking to ultimate profits; speculation in
copper stocks which has much fallen off but the products
Of mining operations
The expenses Of mining have been made subject Of close
examination by scientific and practical who have been
engaged In mining operations in Europe and the il
mighty favorable as to operations in portion Of the Lake SUI
peri0r mineral districts.
copper mining enterprise gathered from the best sources
here, and may be interesting to many.
AS 70 the localities they and widely extend
81 me mineral region commences, in fact Chocolate
nve ana continues one hundred and fifty miles up the Lake
with some intervals The valuable portion Of the whole
REGION though small in extent Isle ROYAL which 4 far ou
in the Lake. HM
Keweenan Point furnishes good localities and poss;oo
thence country ninety miles in extent we strke aoa1
into mineral district From examinations made an On,ona
gon, Montreal Iron and Presque Isle rivers indications are
In
Keweenan Point.
As the profits Of working these mnes the most extrsya
giant ideas have been vaguely entertained by and
upon, the public mind and the widest specuatons have
been entered into without foundation. The imaginatons az
spectators have been exc reference to the vast
citation of the copper mining companies in Engand
Sa nar a results in have been obtained by
skill aided by the greatest facilities for transportation, and by
good market have occurred in England in which
copper mining stock has from pound share paid
in. to five or six hundred pounds sterling.
Still, is matter Of certainty that great profits are ui-
aey be derived from Lake mining in this country espe-
ciay in those where the rc abundant and the
means of transportation market easy Under favorable cir
cumstance the the mines OF England Prussia and Ger
many yields per of "copper" and fortunes
have been made from working these Mines In parts OF
England and Germany the nobility derive their chief income
from mining operations II must be considered in favor of
Lake mining whatever may be its disadvantages arising from
the Of population and improvements that there vast
difference between per and the forty ninety
per cent which of the Lake yield Specimens
brought from various localities the Lake have been found
to yield copper at that Taking forty per cent?
average product every Of would be worth from ninety
to one hundred dollars in the Atlantic markets The actual
profits Of mining skul economy be Observed and the cost
Of transportation the seaboad deducted, would be from six
tyfve seventyfve dollars ton This would be certainly
large profit for the of the mine, and for the capsl
employed in carrying it on.
The following is brief notice of the companies now orgs-
nzed and working First in the field and still possessing the
largest portion of the public confidence is Lake Superior Com
pany the stock of which is owned chiefly in Boston Silver
has found in these mines to considerable extent from
three per But uncertain the deposites Of
silver in such vns that they cannot be relied with any
certainty.
The next company which organized formed Pitts
burg but they sold of their stock Boston COM
pany under the Of the Isle Royal Company This
pany works vein Of black oxyde yielding high ninety
per cent. Of copper.
third company has commenced operations Agate har-
bor II started by gentlemen New York and Hartford,
and is called the New York and Lake Superior Mining Com
houa 0rax
working supposed to be good but their leases
contested by persons claiming priority of location.
Those three the only companies which have actually
commenced and carrying mining operations. Many
companies have been organized during the year.
some with and with less favorable auspices
company formed in this city called the Union Copper Com
pany consisting Of number of most respectable intelligent
and enterprsng citizens They have made number very
valuable locations and will be likely make the
mineral districts.
The Union Copper Company have united, extent
with the Isle Royal Company, and jointly they will obtain leases
six valuable locations Isle ROYAL They have funds in
hand and will be ready mining the opening
OF another and from the prudence and intelligence Of
their management good returns for the capital embarked in
may be expected.
Other companies making arrangements operations
and their enterprise will be promoted md encouraged by
the early completion of the great work. long talked of and
much negeced-the canal around the Falls Of St May
There is doubt that Congress will provide for this work
the coming session skul engineers have that
is practicable, and it estimated that the will not
coed four hundred and fifty thousand dollars
The great question in respect these mines has been will
they hold out That question appears have been satisfac
toy settled in the affirmative. The difficulty the cost
of transportation, and that will be materially ssened by the
construction Of the canal around the Falls of St. Mays
work which will be the of developing the of
rich and interesting REGION while the same time will be
Of the main channels Of the of the West
II much be hoped that the provision for this will
be lost sight of amidst the squabbles Of parties sacrificed
constitutional bubbles nor to the suggestions Of false economy