Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1899-01-18
ACTIVITY IN COPPER.
Unprecedented Demand for the
Mineral Leads to Heavy
Stock Trading.


New York, Jan. 16.-The Herald saws
that negotiations looking to the cons0l
idation of the copper mining interests of
the United States have been in progress
for a week
With reputed backing no less powerful
than that of the Standard Oil interests
the American Copper Mining company
in its combination OF SIX plants expects
TO revolutionize the copper mining indus
try of the world, in which the United
States already figures as the chief factor
The Boston & Montana and the Butte <
Boston Mining companies, the Old Do
mnlOn Copper company of Arizona and
the Arcadian, Tamarack and Osceola
Mining companies of Michigan are named
as the component parts of the new Or
ganiZ;atiOn.
1t IS understood that the American
company will reach into Canada and alb
sorb important copper mines there, thus
making the combination international
but the Calumet & Hecla company. the
largest producer in the Lake Superior
region, has so far declined to enter the
combination.
Disinterested observers Of the transac-
tons in copper mining stocks for 1898
declare that a small cOterie of men have
added $50,00O000 to their wealth
through this channel
First Hints of Consultations.
The combination springs from the re-
cent uphcaval in copper. Prices have
SCARED to the highest figures known, and
that III the face of unprecedented CON
sumption. The increased employment Of
electrical energy has caused an enormous
demand for copper. European countries
Las
ana when 1t IS considered that American
mines supply most Of the foreign require
ments, III addition to home demands, the
possibilities in the copper situation be-
came apparent. Hints of a consolidation
received publicity first through the pro-
tectlVe committee of the Boston & Mon
tana company. Stockholders were asked
to deposit their shares with q Boston
trust company i'll order that they might
De available for protection against at
lackS on the companys property" The
matter was In charge of A. S Rirpl0v
mead Of the BigelowC Clark mining syn
dIcatc Of Montana; Sydney Chase of a
brokerage hrm recognized IS direct rep
reSentatYcs OF the Standard Oil COMMA
ny; Samuel Untermeyer an attorney for
Jne standard, and Edward G. Perkins
ms request for the hypOtheticati0tl OF
stock has alone been regarded as a CON
cehtrauon preparatory to effecting the
combination.
Ihe Montana mines are the second
most important in the state, which heads
the list Of copper producing states. being
exceeded III Importance only by the Ana
C0nQa mime. owned by Marcus Daly ana
). b. Haggin. The Arcadian, TamaracJ
ana Osceoia properties are III the Han
ck-HoUghton copper belt in the North
ern Michigan peninsula. The Arcadi IL
mime haS not been worked to any great
extent although its shares advance at
mention OF the consolidation scheme from
twenty-five to seventy points.
Craze in Northern MICHIGAN.
The Portage lake district. where the
Michigan mines involved are located. is
III the throes of a copper craze that ap-
proXlmates the kaffir mania in South
Africa. Brokers from Boston. which Is
the American copper exchange, are doing
a rushing business at branch offices
opened on the ground and people are buy
ing mining shares as fast as stock cpr-
tihcates can be issued.
LeWlsohn Bros. of this city are accred-
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 hrst experience with copper iii an
investment i'll Boston & Montana stock
years ago, when no railroad penetrated
the Butte country. They held the stock
for years, and when a railroad finally
dld enter Butte and the mine could be
operated with Il show of profit they
found a fortune at their command
The Rockefeller interests. after heavy
investments in iron fields. were encou1-
aged 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
ROthschildS have made oyertures TO them
looking to a syndicate control of ali of
the copper mines in the world