Butte semi-weekly miner. [volume] (Butte, Mont.) 1886-1890, 1888-02-29
THE HUGE COPPER DEAL,

HE FACTS concerning the great French
copper syndicate have lately come to light
Ihc amount OF capital in the trust is sci
down at quarter OF q billion, and it is said
they have obtained control OF Calumet and
Hecla's output, that of Tamarack, the
Anaconda and the Boston & Montana. as
well ~ the Rio Tinto, in Spain. d, l.,
Damr:On, treasurer OF the Franklin con.
per mine, now resident in Boston, stated
the situation OF the trust to a reporter the
other day. He said that the Calumet and
Hecla Company, through it's policy, has
made possible the present condition of af-
thlrs IN the copper market. He referred To
the lO-ceut price to which that company
had reduced copper, and said that the
members OF the French syndicate knew of
an enormous demand for copper that is GER
tam to ensueand o o advantage OF theirin-
formation. They anticipate a great Euro
pean war which will Great a heavy drain
on copper for cartridges. As an example
OF what that will be Mr.. Damer.n in
stanced an order Russia gave a Connecti-
cut metallic cartridge manufacturing con-
Germ FOR 100000, 600 shells, which required
an enormous weight of coppert to fill. There
is a great electric Lighting scheme on foot in |
Paris in which copper bars one and q |
quarter inches thick are to be used as the |
This gigantic work would consume a stu-
pendous weight Of metal. CONTINUING he
says:
hhowing all this, and knowing accurately
tle amount OF copper that the world can
put our IN twelve months, the syndicate
to get together the control of the market
'rureI S2JO,O0c, 900 cash, and with that
IN at command there was 10 question
t the result. The agent came over
rs I'e lan!arack mine pledged for
mo S't The syndicate bought so.
three ytaf>. 4 of copper of this mine and
WV FHa7"> edit for $4,000, 900 in
s''Afed "A letter ~ y, TO be drawn AGAINST
the hands of br,&e+.. ;pped, Next tIev
rs the insot rr- WIS So, i Boston anII |,
the Anacond;t ~. and b,,a
copper in MontaRA. mineS
all the ore coming from the>> 900
'or three years-about los, UUs,> i
Then the Calumet. the YER,
iuggcrnnut cf the whole trade, sOti Sut, | y.
guaranteeing $4,000, 600 pounds in th1Se ri
This is the latest sensation in the
trade, while the Calumet people wont admit :.
1t. 1T * very well aesured, and the agents VI
d the syndicate have also absorbed the fr
Unto copper mine in Spaine, which mines la
5000 tn:a IA year. They also control all W
he Ch,il bars, so that they have the cop a a,
Der Of the world. The prices paid by the ~
are the ruling prices. The Butte Il
nlnes IN Montana, that is, the Anaconda la
snd Boston and Montana, get IL cents for O,
.helr yield Tor the next two years, while the
AXE Superior gets 10 cents. The syndi. -,
ate is not selling, but is shipping every %
" zee across the water, 100, 900 pound ,
al over going over by every steamer. "a
ne Mining and Engineering journal re- ia
'' ITS that the high price Of the metal is Fl
migrating produc ~ in new quarters nj
I'D tie reopening OF old in every part of InI
he world. 1t hears of but does not name on
reat Mexican mines that are to be prompt di
put into production, and quotes Mr.. bill
us stating that there are several tn
SITS comparable with those of the va
resent great Arizona producers, and that its
IN be easily opened. Deposits in Tennes-
e, Alabama, Nova Scotia and Newfound-
nd are to be investigated, as well as some ]
Hiou5 old mines in the Province Of Quebec ma
great promise. An increasing output is tol
ported from the Russian and Spanish mi!
ines. Turkey is said to have copper ma
that can be worked and tho is+ chs
cludes Japan. Australia, South Africa and OF
,uth America, whence the Mining and En- res
neering Journal PROCESSES to hear of ef- ant
rts to increase production. 1t adds. Asl
'wever: at is scarcely necessary to say the
at a very heavy discount has to be can
ade on the statements and beliefs of bro. bea
oters, and those who feel alarmed should pur
ar in mind the fact that new mines can. it's
u be put in large production much under elm
% years. and old ones require a year for pop
1t adds: 1.-THE probabilities ma
e that several real bonanzas will be stal
ened as the result Of the work these high
ces induce, and These good mines will TT
1tinue to compete with or replace the last
min IS which brought the price down on t
t39 fer Chill bars and 10 cents for mot
Levine