The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-02-27
THE RUSH FOR COPPER.
Demand Pouring In From All Sides
For the Red Metal.

Why are copper properties in such de-
mand, and why is the Standard Oil
company and other large corporations
gobbling all the mines that produce
copper in the United States?
1t was an inquiry that half a dozen
Denver mining and smelling men could
not answer except in a general way,
says the Post. They all concluded that
the principle reason was that there is
a demand for copper arising from its
enormously increased use in manufac-
ture of electrical appliances, and the
fact that the beginning of the demand
from this source is only in sight. They
concede that the next five years, that
are likely to witness the application of
electricity TO the great railroad sys-
tens of the world, means that the linn
its Of the copper production of the
world viii be taxed to satisfy the new
requirements.
There is hardly a promoter in the
West, according to the statements of
the local machinery men, who has not
orders from Eastern and European
clients for the purchase of all the cop
Fer prospects that can be found. These
orders come from SPECTATORS and such
great Institutions as the Standard Oil
company, which are always looking for
the good things in the Industrial line,
and also from the manufacturers of
copper fittings for steam engines and
other machinery as well. The Crane
company of Chicago has placed orders
of this kind with Colorado promoters.
This company is one of the largest
manufacturers OF copper fittings, and
seeing that the control of the proper
ties which produce copper most largely
is passing to the trusts, it has con-
cluded to buy q mine of its own, if
possible to fin II, rather than be with
in the clutches OF a gigantic monopoly
of monOpolies, for there promises to be
two trusts on copper rather than one.
The Anaconda properties at Butte
City, Mont, said well posted Denver
man this morning, are represented by
Marcus Daily. While the others there are
controlled by United States Senator
Clark one of Days bitterest enemies. |
l have good grounds for believing that !
the personal enmity Of these Million
aires is playing a. conspicuous part in |
the copper world. J believe that Clark |
is in with the Standard Oil company !
and its allies to affect Days interests |
in that product. With him is the French |
and English syndicate.
IF the Clark people and the Standard /
Oil company could control the copper !
market they might infiict injury TO !
Days interests in that product, even /
with his immense holdings. on the /
DlueT manu- II 1S1iN Is III COlllIOl he
might be able to cause Clark some
trouble. If this old feud between these
TWO men is figuring in the present &C
-ivity among mOneyed trusts to secure
copper mines, there may be some of
The most sensational features the coun-
Try has ever seen in any market before
he war ends.
However my theory may prove to be
mere speculation and not sustained by
re- hnN.-pVaT
Oil company is after all it can
get 1t had good reasons for offering
Colonel James w. Fleming $3.50, 600 for
lis sixty per cent interest in the Black
Warrior copper mines in ella county,
arizona, yesterday, which he refused
because he will equip them with ma
,hineVy and work them himself.
Colonel Fleming regards Denver as
lis home, but he is really most of the
ime at Phoenix, Ariz-, where he went
several years ago after being a promi-
lent real estate dealer here. He is the
nan for whom Fleming's Grove was
famed, but he is engaged in the bank
ng business at Phoenix now, and has
lther vast interests in the southwest
IN territory.
Then the purchase by the Standard
iii company of the Highland Boy mine
n Utah from Samuel Newhouse is an
Their evidence that this corporation is
rasping every good thing in copper
hat it can find. l believe the world
viii be appalled, at the immensely of the
peculation in such properties. Just
eep a close watch of the features of it
you are interested
Copper is all the rage among pro-
loters," exclaimed ]. F. Bostwick of
he Hendrie & Bolthoff company.
Everybody wants copper mines. Pri
larily the demand arises from the in
reasing use of the metal in manufac-
lring, but secondarily the demand for
he properties comes from SPECTATORS i,
Tho desire to stock them for profits
hat come through disposing of the
hareS to people who are investing ,
cavity in stock on the eastern eX- i
hanges- There is craze at Boston
Dr. copper stock, where, I am informed,
billions have been made during the
asst year off copper stocks which have 8
teadily risen in value, but with such
uctuations every day that there were
hances for taking profits continuously.