Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1848-05-18
q those which are above par the principal are.

OF which are at prices exceeding what has been paid
each, or which above par
OF those which are above par the principal are,
Shares. Paid. Pres Price
East Wheal Rose, 158 80 ll50
North Roskean, 10 l04 $40
South Caradon, Us 10 $50
Tresavean, SO 10 90
Wheal Seeton, 81 pa 1000
This indicates very favorable condition of the
mining interests, and which would compare well with
almost any branch of business. We can see no rea-
why the working of mines in country should
not be attended with great profits. In part Of the
world are many Of the most valuable ores found in
greater abundance of richer quality, than here.
They might be made one of our most productive
sources of wealth. All that is needed TO effect this,
is the application of the skill, industry and
economy to the working of the mines that we employ
in other kinds of business" american Min. Jour-,
April 12)
We also copy the following from the same paper,
being part of report made by Gen. Phelps to the
American Exploring and Mining Company, relative
to the Copper Mines Of the Old World:
Cooper is found in almost every country, but in
small quantities when compared with Iron. The
veins deep into the earth, often requiring expen
sive excavations TO obtain the The Copper mines
of Persia and Japan probably the Oldest worked,
though one Copper mine in Sweden has been worked
1000 years. 1t has been stated that, 200 years
since, the Copper mines of Sweden gave annual
produce of nearly 1000 tons. The amount produced
present from the mines is less than 1000 tons
per annum.
"The Copper mines Of England have been worked
with more regularity, system and profit, and have
increased in prOductiveness than those of any
| other nation. From 1926 to 1870, the mines pro-
duced less than 1000 tons of pure copper per annum
| in ITO, 1850 tons in $780, IA 500 tons and in
| 1916, 15,4 56 tons.
'The. proprietorshp of mining lands in foreign
countries Is, with few exceptions, either in the gov
| eminent large land proprietors, from whom the
mining companies obtain leases paying proportion
of the metal raised at fixed rent duty per
ton The average (renO of all the mines is estimat
ed at per cent of the value of the raised. The
ores principally relied upon for obtaining copper in
quantities, are the yellow and gray sui phurets, the
first being the most abundant In quantity, and the
latter most productive. Yellow sulphuret seldom
yields more than ~ per cent pure "copper" and rarely
exceeds 10 per cent. Gray sulphuret yields from 20
to 70 per cent, when free from rock; the average of
| a vein, however, seldom exceeds 30 per cent, and
| but very few mines come to that standard
Z" In the Lake Superior veins, the malleabe or ma
tive copper is found in large masses. boulders and
strings, imbedded the rock disseminated par
cles through the veinsone. In many instances these
masses have exceeded 10 tons in weight, and in
two instances, single has been found weigh
ing from 40 to 80 tons. In some the copper is
found sufficiently free from rock and impurities to be
used for mechanical purposes without smelling; but
generally, particles of earth found in the seams
or adherng TO the surface of the mass, rendering il
necessary to pass the copper through furnace.
" In very few instances Copper mines are worked
at the expense and risk of single individual; but by
far the largest proportion operated by private
panies, associated parners by joint stock COM
panies, under charters.
In Cuba, one Copper mine, for six years, divided
Sl6O,579 per annum among the shareholders; ano-
ther Cuba mine, worked by ore of the English COM
panics, is present. it is said, making net profit of
$4,000 per MONTH In Cornwall, the ore raised
from the mines after being dressed for smelling ave.
RACES less than per cent. of fine copper. per ton.
"The amount invested by the companies, depends
upon the enterprise of the shareholders and the
of the explorations. In England the rent of the mine
is paid from and dependent upon the raised. The
largest amount expended as capital by any one CON-
pany S621, 900, while another only expended as
capital "a 546. The present value of the property
of the first named company is now 81 ,O76,7OO, and
that of the latter is 81 273 $50. But these iso-
lated cases. more correct opinion of the true posi-
ton of the business can be formed from the whole.
The amount expended by ITO mining companies, now
at work, prior TO and including the year 1916, was
S4 325 536 The present value of the ITO mining
panes shown by the market price of the stock is
SS,32S, 49, Notwithstanding l,6U1,2l7 OF the S4,-
325 $50 was expended on unproductive mines, and
lost. The largest dividend made by any one company
Tin CornwalD in one year, was 1892, 500, on a capt.
tai of 81 $40. But while this dividend was
made single mine, it is not probable the average
dividend on all the ITO companies amounted in any
one year, to over 30 per cent.
"From the best estimate of the data furnished, the
amount invested in all the mines now at work in Eu-
rope America, Australia and the West India Islands
S2 2S6 500 exclusive of the amounts paid for the
lands purchased by the company. Estimating the
nett profits this sum being the difference be-
tween the average cost of raising and transporting
the ore from the mines to the smelling works, and the
amount which the sold to the smelter, the div
dends ON the above investment would amount to 49,
per cent. per annum.
:" We must lose sight of the important fact tina
it is but recently that much experience has beer
gained in mining in copper, and that more capita
need be invested than sufficient TO open and work
mine, and that if found unproductive, the expendi
ture be at any time suspended, without involving
further loss. large portion of the community are
under the impression that mining for copper is diff
cult and hazardous business; one involving grea
danger of loss, and aording little chance of profit
When compared with other business, which is tn
only true way of arriving at correct conclusion,
viii! be found that but few kinds of business prOms
greater profit, end are subject to less risk" M
Vol. l. No. TX.
Ct5- Queen Victoria was twenty-nine years of ag
> on the Oath of this month. She married on tn
10Th of February, 1910, and has already given si
heirs to the throne, viz: Victoria ADELAIDE Mari
Louisa, born November 21st 1S40-Albert Edward
Prince of Wales, Nov 9th, l54l Alice Mund Mary
April 25h, 1s43; Alfred Ernst Albert, August 9Th
1913; Helena August Victoria May 18th, l646; an
an infant born March 18th, 1913. The allowance (
each child is Sl35,000 per year.
WITTY DEDIcATloY.-Mrs Cowden Clarke dc
dicated her volume of Proverbs from the works
Shakespeare, in the following style: ITO Douglas
fnoE inf no mn