The semi-weekly miner. [volume] (Butte, Mont.) 1882-1886, 1885-01-17
ORE AND BULLION.

ORE AND BULLION.
The circular Of Mathews and
Webb. ore and bullion brokers d
Denver, Colorads, under date Of the
7th inst, is ct hand. The circular
contains . review of the leading rail.
road stocks, and Of silver, copper.
lead and ores, for the year 1884. In
speaking Of the business transac'
actions they say: "a review Of the
year which has just closed. is BY no
means cheerful one and yet as a
matter of record and for comparison
its history Is useful and interesting.
At the opening of 1884 there was ev-
cry prospect of fair year. although
the elections were expected to detract
somewhat from the general business:
but during the month Of May, a he
nancial cyclone struck Wall street
and carried down colossal Interests,
strewed the remains Of heavy il-
stitutions In the dust, and lett ruin
In Its tracks. Had . few of the New
York capitalists alone suffered, the
results would have been less disas.
trous and the reaction more rapid.
but values were3slowly dragged down,
confidence was slapped and an apathy
induced which has caused q bushes
prostration such rs has not been ex-
p ,rienced since 1877" Then follows
. table showing the shrinkages in u
dozen leading railroad stocks for the
past year. They conclude there is
apparently no great room for further
serious sbrinkages.
The clearing house returns and
bank statements show q falling off In
general trade of nearly twenty-five
per cent from last year and failures
have largely increased. Altogether
the situation for 1885 cannot fail to
be q vast improvement over that of
1886.
OF silver, they say 1t ruled with
considerable steadiness through the
year until the close when there was
\ serious fall In Its price. The
highest point was touched In March,
when it was quoted at ll2l in New
York. The lowest price was touched
at the verv close of the year, when 1t
commanded but 1911. They think
the future Of silver is very prob
lemstical and depends largely on the
action of governments. Germany
has still ore hundred millions of ST.
yer to sell. The production of the
metal III this country is given as fol-
lows: From 1884 to 1870 1t averaged
thirteen millions per annum. From
1871 to 1877 1t vas thirty millions.
From 1873 to 1881 about forty mil
lions. In 1882 it was forty-seven
millions; in 1883 forty-four millions
and in 1884 it was fo%rty-3even mil
lions,
In speaking of. copper the circular
says:
It has been the field of first one and
then another of those immense con-
tracts that burst over the market
like q water spout and carry almost
as much confederation into the hearts
of the by-.tanders. The Lake G .m-
have pursued q very aggressive
now for the past few years and
Seem still bent [as we have already
indicated in our circulars] on testing
the theory of the survival Of the
f~ittest." No doubt they will succeed
in killing of many OF the far western
mines which carry but Little silver
and also many of their weaker neigh
b0rs in the Lake region, but the
Calumet and Hecla also has its linn.
Itations rs to the cost If production
and 1t remains to. be seen whether
The treasure boxes of the territories
may not yet furnish high grade sill
yer bearing copper ores that will in
urn drive the m .litant LIKE CON- I
oanies 10 tho wall and make them 4
'egret their freezing out policy OF the +,
)ast. There Is no doubt that copper :
. now very low In price, when we !
consider the actual cost of its produc- {
ion, but 1t is equally certain that tie +
liant strides which the supply of the :,
World has taken will forbid any re- y
urn to the hslcy0n prices Of earlier
ays when IS cents per pound at New =.
FORK was an easy possibility. !
The average price of the metal for Il
be past year is placed a. follows: 8
Lake at N. Y.132ca and at London best d
&6U-5s and Chill bars E54 Il
he first movement Of moment ". I,
l'red early In March, when over =
),OQ0,NO lbs. Ut Lake were sold to u
at 13c when the price was o
ltc at New York. The effect of this Fl
rs 10 cause domestic buyers to in RI
Ut that home prlcas should be no :
lgher than foreigners laid and y
.7entually early in May, Ut er long y
q sale of 1900, QUO lbs. al
manufacturers was made 1T IA; :,
YER four months. Then q long lull ::
~ followed In september by another u
lmble, when 10000, OvO lbs. were s
Id at l8c. about half of it being tx ia
'rted, and finally the greatest m
|mble of all came in December. :.
hen the English and French opera &
re took up nearly 8,0OO tons of Lake th
I'd copper matte on a sliding scale, pl
'sed Oh the Chill bar price in a.
ondon, but the manipulation of the -.
ice taught u domestic manu- OF
cturers u lesson, and later in the of
onth they bought 2,5OO.Ov lbs. Of h,
AXE on . similar sllding scale, but .,
lth the proviso that lf3c should be
9 maximum price, aud 90 the year
)sed with the lowest prices that
We yet been known for copper. or
The statistics of production show ar
Q U. 8. American output to have tn
en-: -,
1890 q goo tons, Of which $4,000 was Lake. ~:
1881 5000 +" 1900 =" In
1882 ]O,>7t /" " $500 " . e.
ls8S 6S,O00 " y " $1,000 " " IN