The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1898-05-01

"And what is a weed? A plant whose
virtues have not been discovered"
The increasing demand for copper is one
of the results of the activity now existing
In manufactures of war material and cleo
trical plants. The market is thus sum-
med up by the Los Angeles Review of
even date, which says:
Copper remains firm, at a slight ad-
vance over last weeks highest quotations.
Eastern manufacturers are all kept very
busy, and spot copper is SO scarce that 1t
is no longer obtainable in any quantity.
Similar conditions prevail on the Lon
don market. Prices have advanced to
f51 lis, g., three months prompt. From
Paris comes the same note. Latest adj
vices are that copper shares have never
been in such great demand as at the pres
ent time, and the highest prices for good
copper stocks are being offered. One rea-
son for the present enormous demand is
due to the war between the United States
and Spain, by reason of which very large
additional quantity has been used in hast
lily finishing vessels and furnishing them
with electric systems. And it is a matter
of interest to note that the two countries
now at war are the two greatest copper
producing countries in the world. The
Rio Tlnto copper mines of Spain have been
among the most celebrated for many years.
and last year they paid profit to their
stockholders of 40 per cent. Another item
worthy of notice in respect to copper mines
Is that the Copper Queen mines at Bisbee,
Ariz., will, it is estimated, give their
stockholders this year a net profit of 81
900 900. Mr.. John Stanton of Boston, who
acts as statistican for the producing cop
per companies of the United States, gives
the following as the output of fine copper
dong tons) for the quarter ended March
81, 1898: United States reporting mines,
51,447; United States, outside sources,
300; total for the United States 81, 447 tons.
Foreign reporting mines, 1880 TONS Grand
total for the quarter, 75,427 tons. For the
corresponding quarter of last year the
grand total was "A 1888 tons. The increase
in United States production for the quar-
ter of this year was 270S tons, and the
increase in exports 4616 tons.
The following is stated to be an exact ac-
count of what transpired in California
county this week, and is furnished as Illus
trative of one of the ways that capital is
locally deferred from investment in min
ing property:
A. has a bond on a group of mines at a
stipulated sum. Ee has the signature of the
president, secretary and treasurer or the
company to the bond. He succeeds in en-
listing capital to reopen the properties.
B. comes in and offers $4,000 more for the
bond than hasLeen agreed upon by A:
1t is discovered that in making the bond
to A., the signatures of the majority of
the stockholders had not yet been obtained,
and that, consequently, under the laws OF
California, the bond is invalid. AT much
expense and delay the original work is
rectified with the risk by A. of losing his
bond. The deal, however, fell through by
reason of the necessarily long. delay. B.,
who caused the trouble, fails, however, to
secure the bond proposed by him, and the
whole thing is upset.
If correctly understood in this case, the
original intermediary was having the bond
put in proper legal shape; but in the delay
a neighbor, hearing of the transaction,
made such representation regarding what
he could do, as to break off all original ne
gotiation and occasion correspondence
that ended in nothing. 1t is asserted to
be a case of knockout" AS understood
in California, and not wholly unknown
elsewhere, the "knocker-out' is n man
who unable to successfully place mining
property in his control, is determined, il
he can help it, that no one else in his vi
cinity shall make a sale, and whenever he
hears of any move toward the enlistment
of capital in mines, makes such represen-
tation or misrepresentation as results in
defeat to the great detriment of the dis
trct so unfortunate as to have him for a
resident.-Mining and Scientific Press
Taxes against foreign insurance compa-
MES doing business in Missouri in 1897 have
been levied by the insurance commissioner
to the amount of s293,5O4.17.
1t is reported that the Russian govern
ment has ordered from the Cramp COM
pany two 12000-ton battleships, the work
on them to begin by June l.