The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1899-01-17
TO CONTROL COPPER
MINES OF THE WORLD.
Gigantic Corporation About 10 BE Formed
in New York which 1s Expected 70
RevoIutlonize Copper Industry.

II
NEW YORK. Jan. is--The Herald says.
Negotiations looking to tho consolidation
Of the copper mining interests or the
United States have been In progress In
this port for a week.
With rcputed backing no less power
ful than that Of the Standard oil inter.
ests. the American Copper Mining Com
pany. In It's combination OF six plants,
expects to revolutionize the copper IN
dusrry OF the world. in which the United
States already figures as the chief fac
tor.
The Boston & Montana and tho Butte
& Boston Mining Companies. the old Do
minion Copper Company, OF Arizona, and
the Arcadia. Tamarack and OsceoIa Min
ing Companies OF Michigan, are named
as the component parts OF the new or
ganization.
It Is understood that the American
Company will reach into Canada and
absorb important copper mines there,
thus making the combination ltternatlon-
al, but the Calumet & HeclIa Company.
the largest producer in the Lake Superior
region, has so far declined to enter the
combination.
Disin,efested observers OF the trans
actions IN copper mining stocks for 1893
declare that a small coterle Cf men have
added iO.0oOO0o to theis wealth through
this channel
The combination springs from the re-
cent upneaval in copper. Prices have
SCARED to the highest figures known. In
face OF unprecedented consumption The
employment Of electrical energy has
caused an enormous demand for copper.
The European countries alone last year
used Fs,7ss.759 pounds and when Il Is
considered that American mines supply
most OF the foreign requirements In ad-
dlton 70 home demands. the possibilities
in the copper situation become apparent.
Hints OF consolidation. received pub
licly first through the protective com
mittee OF the Boston < Montana COM
pary. stockholders were asked to deposit
their shares with a Boston trust COM
pany In order that they might be ''avail-
able for protection against attacks on
the company's property The matter
was In charge OF A. s. BlgelOw. head of
the Bigelow-c1ark Mining syndicate Of
Montana: sidney Chase. head OF a brok-
crage firm, recognized as being repre-
sentatives OF the Standard on Company.
Samuel Untermeyer. an attorney for the
Standard and Edward Z. Perkins. This
request for the hypothecation OF the
stock has all along been regarded as q
concentration preparatory to effecting the
combination.
The Montana mines are the second
most important in the state Which heads
the lhN OF copper producing states, be-
ing exceeded in Importance only by tho
Anaconda mine. owned by Marcus DAILY
and ]. B. Haggin- The Arcadia, Tam
arack and Osceola properties are IN the
ncock-Houghton copper belt. In the
Northern Michigan peninsula. The Ar
cadia mine has not been worked to any
great extent although its shares advanced
at the mention Of the consolidation
scheme from Is to 75 points.
The Portage lake district. where the
Michigan mines involved are located. Is
In the thr0es OF a copper craze that ap-
proximates the Kafiir mania in South
Africa. Brokers from Boston. which II
the American copper exchange, are doing
rushing business at branch ofices
opened on the ground. and people are
buying mining shares as fast as stock
certificates can be issued.
Lewisohn Bros. OF this city. are credit
ed with being the principal factors In in
spring new investments in American
copper mines. They have agents at
London and Paris aud have encouraged
the export trade. They are said to have
had their first experience with copper in
an investment in Boston s Montana
stock years ago. when no railroad pene-
trateG the Butte country. They held the
stock for years and when railroad final
ly did enter Butte and the mine could oe
operated with show Of profit, they
found a fortune at their command.
The Rockefeller interests, after heavy
investments in iron ore fields. were en-
couraged to investigate copper mines.
with the result that they bought heavily
in the Michigan district. 1t is one Of the
persistent reports Of the day that the
Rothehilds have made overtures to them
looking to a syndicate control Of all the
coDnar mines I'm the world