The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-06-12
MINING.
Copper.

For some months past we have direct
ed attention to the strong statistical posi-
ton OF the copper industry and to tn,
prospect oil tie market price of copper
steadily approaching. A considerable
Improvement indeed already has occurred
in the price, and those in position t.
form an opinion look forward with some
degree of confidence to that improve
ment continuing. Naturally, with the
rising tendency Of the market for copper.
the shares OF the producing companies
have appreciated in market estimation,
and OF late there has been a considerable
advance. Rio Tinto shares have i'm
proved 10 above %, and Anaconda
shares have been in request the last few
days, rising TO near Z. There appears TO
be some misconception ~ to what is
really the meaning of the negotiations in
Paris for securing market therefor Ana
conda shares. The assertion has been
made that Paris group is going to take
block Of 100000 shares This. we
learn on inquiry, il not correct. The
Rothschild group little while ago took
5000 shares, or oue-quarter of the
total capital, and il negotiating to take
further like amount. What il going
on in Paris il the securing in that marx ct
Of quotation for the shares, not the act
ual taking Of shares in the same way az
done in London a little while ago by
London. One OF th" sharpest movements
has been in the shares OF the Tasmanian
mine, Mount Lyell. The shares March
IA. were about 6; they have been over 81
this week.
Rumors have been current for some
while past of a new process for dealing
with copper. Last month three English
experts visited Paris 20 ace the peri cted
process in operation. These gentlemen
satisfied themselves OF the merits OF the
invention-the manufacture OF copper
and othes tubes, sheets aud wires by cleo
trolysis from unreiined castings, the de-
position being absolutely pure and hon.
oReneous. IL il also claimed that the
process Is the cheapest method Of work |
ing extant, and will give a greater
strength OF copper than any other known |
method. The sheets and tubes give n |
breaking stress 80 per cent over the |
standard fixed for copper hitherto made.
and internal hydraulic pres 'ure indicated
in respect OF other tubes tensile strain
up TO "A, l45 pounds per square inch.
Experts and strong capitalists have asso.
ciated themselves with the formation Of
a company for dealing with this new in.
vention, and, under the title of the Flee.
rrlcal copper company, limited, an under
taking has been formed with a capital Of
100000. Ii is intended TO erect works
IN England, az well as take over those
established in Paris For a cash consId.
GRAFTON OF e55, 900 and the whole OF the
ordinary shares (35O,OOO), the patents
are acquired of Mons. T.. Dumoulin for
Great Britain Germany, the United
states ana other countries. The com
pany VIII become the absolute proprietor
of the patents Tor Great Britain, and So
per cent oil the profits TO be derived from
The working or sale Of the patents for the
British colonies or other countries. Oitbe
10000 6-per cent accumulatiye prefer.
nee shares, 100. 900 are 70 be issued and
1000 retained in the treasury of the
ompaDy. This will permit OF e25. 600
'eing applied t. the cost Of works and
10000 for working capital The field
Dr. the company's operations will be
N enormous one in the direction of
ubes for engines. particularly locomo.
ves. London Statisf, MAY 30.