New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1847-04-15
NEW-YORK TRIBUNE.
80 superior-The Mineral Region-History,
statistics, Mode Of Operations, &c &c.
f---.~.oor1 opea Of The Trfhpna


..,,s.sing interest in the operations on Lake Su
.,y,or and, having some interest myself in them,
.hoola be glad through your columns to lay some
CT. before those who are interested enough in
he operations to read newspaper article.
The existence of Copper on the Lake appears to
hsye been known as early as l659, when Baron La
poutan visited the Lake. and in his Voyages to
Canada. he described the Copper Mines. In l72l
D AZ Charlevoix mentioned the Copper Nine in
t;s Journal of Voyage to North America In
rTss CAPT Carver published an account Of his visit
20 the Lake In l772 the Mines were worked by
Company comprising some OF the most dlstln.
ruisbed persons IN England and this country. As
tbey had no means Of transporting provisions, ma
ebinery, &c. except by canoes from Montreal, and
finding il almost impossible TO forward the produce
az their labor TO q market for want of such means
a Transportation they were obliged in or about
l773 to relinquish their undertaking Since that
time public attention has not been much called to
The Mineral region until the treaty by the United
States Government with the Chippewa Indians in
1912 when these lands were ceded TO the Govern
ment In 1874, two Companies commenced opera
,ons. In le45 and 1896 more Companies were
formed and commenced their operations which have
been continued to the present time with the great
est success.
The Copper region commences at Chocolate
riyer, about 100 miles from Sault de St. Marie, and
extends along the shore Of the axe TO the upper
81 Croix riyer, which is one of ike head waters Of
the Mississippi. The Mineral wealth does not all
lie in Copper alone, but Lead and Iron abound in
some parts, and almost all veins of native metal
Nc Copper which have been opened from Point Ke-
wawanon to Montreal river carry more or less Sill
yer. From accounts that have been published
comparing the mines Of Lake Superior with those
Of the Old World and Cuba, any one can draw their
own conclusions. Enough has been done to convince
the most skeptca thatour side Of the question is far
TIE most profitable. A mine in Cornwall, which was
opened about the month Of April l643, the amount
expended before the mine became profitable was
5000, and now the stock is selling at valuation Of
$500, 900! or s7o0 for 81. A mine in Cuba, open.
ed about eight years since expended about 5000 000
had divided profits TO the amount Of sl044 100, up
to Nov. ], 1876, and have their mines in a highly
prosperous state their capital entire and are real
izing profits at the same rate and every prospect
good
The entire cost Of getting ore TO the surface on
Lake Superior is less than 81 per ton one hand
being able TO get out at least half ton per day.
The cost of smelling &c. 80 far is about half that
pice--say altogether less than &c per ton IL the
ore yields only rs per cent land the greater part
will yield about 40 per cent it il worth at l6 cents
per pound seO-thus leaving a large lee-way for
profits after paying expenses.
With the opening Of Spring all the former diff
culsies 10 regard TO navigation will be overcome.
conjunction with those running to Detroit and buf-
ialo.
The plan generally adopted by the companies for the
purpose of working these mines has been to vest the
Ode the property held by them in trustees, and by
the srcles OF agreement specify their duties and pro
hbiung them from contracting debts SO that stock
holders incur risk whatever of liabilities that may
Acct their individual property.
Az England large sums must be expended
belore apy profits can be realized capitalists have
been afraid and have held back bat on AXE Su
perior from $500 to $500 will be ordinarily suih-
cient until ample returns received from the
ores.
The richest part of the Mineral tract lies near
Kewsiwanon Point, and extends westerly through
the Ontonagon valley and the PorcupiDe Mountains.
Dr. Cavilli an eminent French Geoogist In his re-
por. to the French Geological Society. thinks that
on and near the Porcupine Mountains the wealth OF
the country will be the most easily developed, the
works carried on the most economical, and the lar
sest profits the more readily obtained. would
advise those interested TO procure his report ana
read 1t carefully, and candidy At some future
period may. If deemed best, and you are willing
draw a line of demarkation between the Lake Su
perior Mines and those Of England, Cuba, DC. In
the mean time, l would advise holders OF stocks
not 10 SELL for in one year. it is my confident erpec-
sasioas that it will be worth double and treble its
market value now. You will repent in six months
that you did not hold on TO il.
lam, respected SIR, your obi sery't
STOCkHOLDEh
las il is OF the utmost importance that the pub
he should not be misled in regard to this important
matter, we will note some particulars in regard to
which A Stockholders article is calculated to
nisead those otherwise ignorant of Mining on Lake
Superior. The Cornwall Mine he speaks of is The
oxly one within our knowledge where such msgni-
hcent results have been attained-s single case of
l..
cd much less or not at all favorabiyas must be the
case in business necessarily precarious.-The es-
innate that the Copper Ores Of the Superior region
will yield an acreage Of 25 per cent. of pure metal
IL not sastsined by the facts within our knowledge,
though there are OF course many localities which
yield 90 much or even more.As TO exploring, prov
ing, and working Mineral Location on a capital Of
5000 to $4,000 the thing can't be done, certainly
not once in hundred. Nor can ore be raised and
cost and we would not engage to transport it even
70 the Lake shore from the Porcupine Mountains
or any interior locality for that snm.
somuch by way of caution against rash and heed
less speculation. Many of the Stocks in the vari
Gus Mining Companies are doubtless very valuable
-prooao'y worth ten times their present market
value. But on the other hand the market is or
doubtless VIII be flooded with neatly engraved GER
thcstes of stock in sOnOrous companies. loudly
tumpetsd, as owning the richest mines in
the world, while all the time the only vslue ,bav
represent is that Of the paper on which the certi6
Gates are printed. We have not doubt that the
Mineral Region on Lake Superior is one of the
richest lin copper in the known world; we are
confident that Mining there viii ultimately be
profitable, and that Money, Talent and Industry
may now be invested in the business with good
prospect of liberal though not Of Instant returns.
But don't buy Stocks at random-know that You
deal with honest men-make yourself well &C
guain,ed with the locations and developments repre-
sented by the stocks offered you-take sober, prae-
teal sensible views of the Mining business-look
wei to prudent management-or you will be more
likely to burn your fingers than to fill your pockets
Our readers have our best advice in the premises,
" well as our correspondents statements, and will
ct accordingly. We greatly desire and hope to
zee the Lake Superior region settled not only