The Portland daily press., 1877-11-26
The Mining Exchange.

MR.. EDIToR:-I notice in your paper under
the date of Nov. 18th, that Portland parties
have formed preliminary organization looking
to the establishment Of mineral exchange,
also to the erection of smelling and reducing
works, adopting the Swansea processes of
separating ores.
In my opinion there is no enterprise that
could be started that would be of so great value
to the New England States as this. 1t is what
miners have long wanted, and is particularly
essential to the development of the mines Of
New England. That copper ores exist in
abundance in New England is beyond question.
In no part of the globe is found SO large an
outerop OF copper, with the prospect of de-
veloping as rich and paying mines as in New
Hampshire and Vermont. Let US glance at
the yield Of some of the mines in this country.
The Calumet and Hecla, on the border of
Lake Superior, as reported, turned out in four
consecutive years over twelve million dollars
worth of copper. Eight millions of this
amount were profit Other copper mines in
that region, of less magnitude, were worked at
good profit on ores, varying from one and
nine-tenths per cent to two and three-eghths
Of metallic copper. The Vershire mine in
West Fairlee, Vermont, has been in successful
operation for number of years, and is now
sending to market one hundred tons of metal
lie copper each month, and raising to the sur
face some ten thousand tons of ore annually,
with a fine little village around thu mine,
supported entirely by this enterprise.
During the year 1876 at Belts Cove, New
foundland, nineteen thousand tons of copper
ore, of about eight per cent. copper, were
shipped to Swansea for smelling. The owners
were Immediately offered three hundred and
fifty thousand pounds sterling for the mine.
Up to October Goth there have been shipped
from the same mine thirty-fve thousand tons
OF ore, and it is estimated that five thousand
tons more will be sent away before the end of
the year. With such results before us. shall
other mines in New England, of equal promise,
be allowed to remain unworked for the want of
capital to develop them, and to erect suitable
works for the reception and separation of the
ores?
Argentferous galena is found in Maine. New
Hampshire and Massachusetts of good quality
and in paying quantities. Gold is also found in
Maine, New Hampshire and Vermont, though
principally alluvial, so far as yet known; but
this must have mother origin and the veins
will come to light when the mining of other
ores is prosecuted more thoroughly and sys-
tematically. The development of its mines
would be of great advantage to New England.
The agricultural and numbering interests would
be benefited; the young men would find en-
poyment at home; its towns villages aud
cities would be awakened to new life.
We have only to take trip across the CONT
nent to the Pacific states to see the effect of
such enterprises. San Francisco is one of the
most thriving and prosperous cities in the
world. The development of the mineral re-
sources of California and the neighboriug states
and territories has been the principal cause of
its rapid growth. The agricultural and other
interests have been largely stimulated thereby,
and thus made California one of the richest
and most attractive states in the Union,
While we may not expect SO extraordinary
results, still enough has been done at the New
buryport mines and at the Vershire mine.
where between five and six hundred persons
are constantly employed, to prove conclusiyely
that much OF our surplus labor and capital NAV
secure remunerative returns at home.
Portland appears to have all the necessary
facilities for becoming the receiving and dis
trIbutipg point for this new branch Of industry.
1t has q good harbor, of easy access, with light
port charges. Its railroads afford good facili-
ties for bringing ores from the interior, while
the vessels with from the coast or provinces
can generally obtain return careoes.
swansea has population of sixty thousand,
| supported by its smelling furnaces and ada.
| cent mineral resources. There is an abnp-
| dance OF rich copper ore, which lies nearer
| Portland than any other seaport. Will not her
citizens take an interest in this ENTERPRISE. and
| assist in establishing smelling works in Port.
land, thus adding to her wealth and popula.
ton? PRospECTnp