The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1896-01-06
MINING DEPRESSION.
The Phosphate Industry Seems to De
Doomed in Carolina.

| T.o1,,r,tio q January I.-(Specia' y
The phosphate mining industry IN TINS
state. which was long one OF the largest
in the world, and which was great source
of wealth, appears 10 be doomed. ne az
pr-ssion has reached the climax, and with
duIIn,.ss in the business and the serious
connection in this and foreign countries.
no way for the early revival OF the business
IS in sight The state gets a royalty OF %
cents a ton on all phosphates mined III tle
nayIgable rivers, and SlJ,OO from tiifS so"ioS
is pledged as n sinking fund Tor the pay
inent of the state debt. 1t IS not thoushI
that tie business viii get so depressed
az not to bring in this amount but that
will be about all. whereas the sum coming
into the treasury from that source mas
amounted 10 from $4,000 TO S3loDJo N Tor
mer years.
Phosphate Inspector Jones in MS annual
report to the legislature. which mas just
been made. says the outlook for tne busi-
ness is gloomy in the extreme. Prices nave
sunk TO a figure never before known. ana
the greatest discOurl cement prevails, both
in Florida and this state. IT is Impossible
TO get in Europe now even as high as
pence unit; tho prices vary from > 70 %
pence. AT these prices. after pa-'lhS ti.1
royalty. and with the most 'aVoTdDiv
freights the mining companies are unable
TO make more than s. per ton for their
rock This does not enable them TO i've.
The strictest economy is being practiced,
wages are being reduced. saving devices
are being adopted. ard the cost OF MINING
has been reduced to the minimum: but even
with this. unless there is an Improvement
in the market the phosphate companies
mush stop The Carolina Mining Company
which is a wealthy one, composed of Eng
lishmcu, has alre9dy ceased operations
The company could not mine the rock with
a profit at present prices. II IS not known
whether it VIII ever resume tt stoppage
means the loss OF q. large revenue to the
state. Otner companies are mining. but
with greatly reduced forces. The Coosaw
company. the largest of them all. has re-
duced its working force TO a minimum
The reasons for this depression are not
hard 10 find. In the first place, the de
pressed condition Of agriculture in this
country and Europe has limited TO a very
great extent the demand for crude phos-
pha,e rock a basis Tor the manufacture
OF fertilizers, but a more potent cause IS
10 be found in the opening OF new mines,
which have come IA fierce competition with
the south Carolina product
Tennessee rock continues to be actively
mined. aud the production is steadily i'm
creasinE. This rock needs no washing or
drying. as does the South Carolina rock
Its analysis is satisfactory aad il IS largely
used in Georgia and points IN other states
II ills the place OF the rock OF this state
satisfactorily ana is Il formidable compel
itor Florida continues 20 increase her pro-
duction. While IA great many companies
have ceased operations. still enough have
been left TO keep up large production
Within the last few weeks a new bed Of
phosphate has been discovered in Samme,
France, and as IL anaIyzes well. Il Is eN-
pected that the development of the mines
VIII curtaH the expectation of rock from
this state 10 Great Britain and the ccuti-
neut, on account OF u.- cheaper f.-.=.
rates. Large deposits have also Been found
ili-t. -I.--t'- x---t-
Ia order to assist the c5utp.zl'ei os t'.'"H
as possible ana preserve 20 the state very
lar-e revenue the INSPECTOR recommends
that tine royalty be reduced - - cents '5r
ton. Unless this is done. il is question Of
only a very short time when the companies
viii have to 30 out OF business. Az pres
ent it is hard - predict how long the COM
pAnies now mining VIII be able TO continue
operations. and it Is likely that tha royalty
Will be reduced.