The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1899-01-16
S5O.OOO,OOO MADE
In Copper by a Few Men During
the Past Year.

New York. Jan 16.-The Herald says:
Negotiations looking to the consolida-
ton of the copper mining interests Of
the United States have been in progress
in this city for a week
With reputed backing no less power
full than that of the Standard Oil in
terests, the American Copper Mining
company in its combination of six
plants expects to revolutionize the cop
per mining industry of the world in
which the United States already figures
as the chief factor. The Boston & Mon
tana and the Butte & Boston mining
companies, the Old Dominion Copper
company of Arizona and the Arcadian,
Tamarack and OsceoIa mining COM
panies of Michigan are named the COM
ponent parts of the new organization
1t is understood that the American
company will reach into Canada and
absorb important copper mines there,
thus making the combination interna-
tional, but the Calumet and HeckIa
company. the largest producer in the
Lake Superior region, has so far de-
cIined to enter the combination
Disinterested observers of transac-
tons in copper mining stocks for 1898
declare that a small coterie of men
through this channel.
HIGHEST FIGURE KNOWN.
The combination springs from the re-
cent upheavaI in copper. Prices have
scared to the highest figure known. in
the face of unprecedented consumption
The increased employment of electrical
energy has caused an enormous demand
for copper. European countries alone
last year used 1885, S9, 759 pounds, and
when it is considered that American
mines supply most of the foreign re-
quirements, in addition to home de-
mands, the possibilities in the copper
situation become apparent.
Hints of consolidation received pub
Iicity first through the protective COM
mittee of the Boston & Montana COM
pauy. Stockholders were asked to de-
posit their shares with a Boston trust
company in order that they might ''be
available for protection against attacks
on the company's property" The mat
ter was in charge of A S. BigelOw, head
of the Bigelow-Clark mining syndicate
of Montana; Sydney Chase, of a bro
kerage firm recognized direct represen-
tatives of the Standard Oil company;
Samuel Untermeyer, an attorney for the
Standard, and Edward c. Perkins This
request for the hypothecation of stock
has all along been regarded as a con-
combination.
The Montana mines are the second
most important in the state, which
heads the list of copper producing
states, being exceeded in Importance
only by the Anaconda mine, owned by
Marcus DAILY and J. B. Haggin- The
Arcadian, Tamarack and OSceola prop
critics are in the HancOck-HoughtOn
copper belt in the northern Michigan
peninsula. The Arcadian mine has not
been worked to any great extent, al
though its shares advanced at the men
ton OF the consolidation scheme from %
to 20 points
A COPPER CRAZE.
The Portage lake district, where the
Michigan mines involved are located, is
in the throes of q copper craze that ap-
proxirnates the Kaffir mania in South
Africa. Brokers from Boston. which is
the American copper exchange, are
doing a rushing business at branch Of
fees opened on the ground, and people
are buying mining shares as fast as
stock certificates can be issued.
Lewisohn Bros of this city are cred
tied with being the principal factors in
inspiring new investments in American
copper mines. They have agents in Lon
don and Paris and have encouraged the
export trade They are said to have
had their first experience with copper
in an investment in Boston & Montana
stock some years ago when no railroad
penetrated the Butte country. They
held the stock for years and when a
railroad finally did enter Butte and the
mines could be operated with a show Of
profit they found a fortune at their
command. The Rockefeller interests,
after heavy investments in iron ore
fields, were encouraged to investigate
bought heavily in the Michigan district.
Tt is one of the persistent reports of
the day that the ROthschilds have made
overtures to them looking to a syndicate
control of all the copper mines in the
world.