The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-02-23
THE COPPER MARKET.


err Washington. which are now being
Developed into mines. and which viii en-
ter the fed as bullion shippers during
the present year, contain q heavy per-
csutage OF copper. n addition 10 their
values IN the more precious mstals. To al
interested IA such mines Il viii he pleas
ant 20 learn taat Notwithstanding the
heavy increase in copper production IN
the last few years. the demand Is in
creaslug faster than the supply. surplus
stocks are being cleared up and the price
or copper IS steadily advancing in the
market.
The demand from trolley. telegraph and
telephone interests. and other industries
la which electricity takes a prominent
part, has called for an output almost BE-
yond the present producing capacity OF
existing copper properties. AS result OF
this. there has been an aggregate increase
IN the value Of copper mine shares to the
amount OF over slI.eo.eoo within tie past
few months. After year OF unparalleled
activity in copper mining. there has been
large shrinkage in the worlds supply
OF that metal
According TO the Chicago Journal OF
Commerce. there was eight years ago the
first OF this month total visible supply
Of copper Ia England and France. and
a1oat thereto. OF los SAB tons OF fine copper
On February /. 1896. il was &. $40 tons, or
77.203 tons less than on February !. 1889.
The foreign demand took from this
country during 1886 more copper than
ply. even at the maximum production
reached last year. All OF the great copper
producing mines made new records during
last year. the shipment from Anaconda
during 1895 being @.575.S97 pounds greater
than the preceding year; the Boston &
Montana Company turned out $1,000 go
pounds more than In 1895. while the Calu-
met & Hsclas product reached $1,000, coo
pounds. the creates; in the history OF the
company.
These figures. showing that the demand
IS moro than keeping pace with the large
~ increased production. would fairly In
dictate that the price OF copper will con
tinue 10 stu further advance; and that
there Is a great future before the copper
mining industry in Western Washing
ton. now IN its feeble infancy
The prospecting work done in the Cas-
eade mountains during the past two sum
mors has demonstrated the fact that there
Is belt OF country on the western slope
OF the Cascade mountains. extending from
British Columbia through nearly the
whole length OF the state Of Washington,
wherein can be found lodges OF mineral
containing a very heavy percentage Of
copper. In the mineral claims on which
development work has been done. and
working tests Of tho ore made. copper is
found IN quantities ranging from 10 per
cent upwards. In all OF these veins the
copper IS found IN conjunction with gold
aud silver values sufficiently high 20 in
sure profitable mining even had the cop
per itself been absent
with the heavy increase In the demand
for copper. foreshadowed in the CONNER
eial reports. and with the prospect that
tho present increase ia price Is not merely
temporary. but viii be followed by further
| advances IN tae near future. IL may de-
vslop that the gold and silver for which
these mines are now being worked will
be % less value than the copper now
looked upon as by-product
There Is little prospect Tor the copper
market 90 be overdone. All Indications
| point 80 a wonderful expansion in the use
% electrical appliances. especially In the
| direction OF the Transmission OF power
| FROM water fails 20 displace steam In
| manufacturing plants. and consequently
a stI greater increase ga the demand for
/ copper wire. which Is already ovcrrunning
production.
Takns the relative percentage OF the
metals SIS they appear in the ores OF
Western washington. Is per cent. copper
would moan more 20 tie mine owners cs
| thls section o. the country than would
aa increase IN the value c, silver 70 81
sn ounce. Copper has already cached
| the price OF y cents por pound. and IL
msy touch the Is cent mark before cuany
months,
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