The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-01-09
Copper, copper, copper!


This is an age of copper, and copper
is the rage of the day in financial cir
cles. Gold glitters no more for the min
ing magnate, and is compelled to seek
coincidence from its despised running
mate-silver, the white Inetal-for the
nlilIionaires of the east and of the west
are now turning their attention to the
production OF the copper mines of the
United States. They are trying to cor
ner the market; they are talking of
pooling their interests and OF buying
up all of the miEeS in the north, south,
east and west. Copper is the magnet
that is drawing out hundreds OF thou
sands for investment, and which prom
Uses to De the big speculation to be
chronicled during the year 1899.
With such introductory remarks as
these, a representative of a big eastern
syndicate yesterday went on to inform
q Herald reporter that at the present
time the mining camps of the west
were thronged by mining experts, sent
out by powerful companies for the pur-
pose Of tying up and buying up every
copper proposition of merit they could
find, a small army OF these experts now
being in number of the leading min
ing camps of Utah, the "Old Reliable
camp OF Bingham receiving especial at
tentiOn at their hands, while several
districts in Beaver county were not be-
ing overlooked, investigation branching
out as far south as the La Sale noun
tains, tie home Of the Big Indian, one
OF the greatest copper properties ever
discovered in this intermountain region.
Boston" The Herald'S informant
went on to say, has practically been
built up by the copper industry, and
the copper magnates of that city claim
almost everything in sight in this line,
and are crying for more, as their in
vestnents in this direction always
safe have made them millions and viii
make them many millions more. Cop
per stocks in Boston have always been
a money making investment, and yet
during the last two or three months
there has been a great boom there in
this class of stocks. In the spring of
1898 the copper securities represented
on the Boston market were valued at
100000 000, but now their market value
is placed at S2S5. 600 GOO, the increase be-
ing accredited to the advance in cop
per shares during the past three
months; in addition to which, during
this brief period mentioned, nearly
dozen new mines have appeared on the
market there. Every copper property
on the Boston board has advanced dur
ing the past year, and those which
have doubled and trebled in value are
too numerous to mention in detail. The
copper market of Boston evidently
boasts Of two meritorious features-a
good thing and a sure thing-and in
yestors and spectators there are all
happy
a good thing is difficult to lay claim
to exclusively, however, and the grip
that Boston has maintained on the cop
per industry is being loosened, owing
20 the determination of others to en-
gage in the copper branch of mining.
and to share in its emoluments, as
New York capitalists, Intimately con-
nected with the Standard Oil company.
have made their appearance in the
market, and have been heavy buyers
OF copper shares; and so heavy have
been their dealings that rumor has it
that an effort is being made to corner
the copper market by the purchase. of
the leading copper mines in the Lake
superior country, Montana, Utah. and
ARIZONA, the idea being to make a. |
grand consolidation, the greatest com |
binatlon in mining in the world. and |
thus to practically control the entire |
copper output and the copper market. - |
AT the close of the interview the gen
tleman stated that Utah was forging |
rapidly to the front as a copper-pro- !
duelng state, and that, with its mag |
nlflcent deposits Of this metal recently /
discovered, it would soon become q. for !
midable rival, if not the peer, OF Mon /
tana IN this respect, and that a few
years more would doubtless give this
state second place in its output of this
metal.
Yes said he, in conclusion, copper
is king"