The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-06-11

of copper in the world In 1892, when
the output of the Anaconda system
reached 100,000,000 pounds, Calumet
Hecla mined only about 5s,0Oo,00o
pounds. Of late the disproportion has
diminished, but the Michigan company
still remains in the rear
1t is somewhat curious fact that
the three principal regions here men
toned as yielding the American supply
of copper find that metal in different
combinations. In Michigan the mix
ture with other materials is mechan-
cal, not chemical; and when the rock
is ground and washed the residue is
high grade of metallic copper. For a
time lake copper was the best in the
world, and set the price for other pro
ducers. In Arizona the ores are oxides
that is, the metal is combined with
| oxygen, which can be driven off by
smelling with coke. A very rich prod
uct is obtained by this operation. The
Montana ores are sulphurets. and the
| separating and smelling methods en-
ployed Herewith leave mass OF
matte only so or 55 per cent. fine
This is then sent to retineries for pufl-
fication. For many years the Amerl-
can matte" went to Europe for this
purpose. But the development of cheap
systems of electrolytic refining five or
six years ago, together with American
enterprise, nldue IL pOSSlDie " Soiio ~
the work on this side of the Atlantic
For a time the principal Tefineries here
were in the East, but Montana now re-
fines a large part of her own copper
Some idea of the enormous sums or
money that have been made out OF the
copper industry can be formed from a
comparison of the cost of production
with the prices that have prevailed
for two or three decades. Thirty years
ago the average price in New York was
Is cents a pound. By 1876 it had come
down to 20 cents, and from 1883 to 1891
it was not far from Is cents. In 1872
the average was II cents, although II
dropped at times to 10as cents. The
mean for 1894 was 956 cents, but by
1895 the average had risen fully a cent.
Already in 1891 and 1892 some sort or
| an understanding had been reached by
| the managers of the principal mines
! to control the business. and in a few
| cases production was actually reduced.
| 1t was estimated five or six years ago
| that Montana copper could be deliV-
Il cred in New York for 8 or 9Hs cents a
| pound but this figure should be re-
| duced or 212 cents, to allow for the
| gold and silver received from the Mon
| tana ores. Any excess over or ~
cents then was profit. The Anaconda,
producing 100,000,000 pounds year ana
| clearing from 3 to cents pound, was
| able to keep it's owners out of the poor
| house; but the present price Is cents,
ought to hasten the day when its pos
| SCISSORS can retire from business ana
| pass their old age in dignif1ed and I'M
selfish pursuits. 1t is not lmpro sa, ds
| that prior to the depression of lS9l-94
| at least from 5 to 10 cents a pound was
cleared on Montana copper.
In Michigan it has been estimated
that the cost of mining was about 10
cents a pound in 1890, but only 6 cents
| in 1895. These figures are regarded as
| too high by some authorities. How
| ever this may be- it does not appear
| that the Michigan producers have been
| getting much less than cents pound
| profit, and al times they may have had
| 10 or 70 cents. The amount of capital
originally invested was small and from
year to year the companies would buy
new real estate, put in new machinery
and incur other expenses, and yet were
able to divide enormous sums among
the stockholders. The Quincy mine
| paid from 100 to 225 per cent. on the
stock year after year, and it has been
| estimated that Calumet & Hecla paid
it's owners in ready cash from lob to Az
per cent. in a single year. The guess
has been ventured by close observers
that Senator Clark of Montana, who
| was interested in the United Verde of
| Arizona and a number of mines in his
| own state, had revenue one year or
| $1,000, 0OO, but 1t is Impossible TO Hnu
any good backing for this assertion
| 1t was remarked six years ago that
70 per cent. of the American copper
came from districts that were con-
trolled by five individuals. No details
were furnished. But it seems probable
that the interests mentioned were the
Calumet G. Hecla, managed by Alex
ander Agassiz for the Boston owners;
the Anaconda, of which Marcus DAILY
was manager, although a half owner
ship had passed to the exploration syn
dictate of London, in which the Roths-
chlds We're said to be active; Senator
Clark, Phelps & Dodge, who own Of
control the Copper Queen, Detroit and
other Arizona properties, and the Lew
ishon & Bigelow people, who owned the
| Tamarack, Kearsarge and other Michi-
gan mines.
Although it is difficult to say exactly
how much the new company, that II
supposed to have the Rockefellers be
hind it, has actually accomplished, !
seems probable that 1t has obtained
. control of the Tamarack and less
) known properties in the Lake Superio
region and the Anaconda mines. Rumo
, has assigned to the new combination
the Parrot of Montana, formerl.
owned by Franklin Farrell. but it i!
not quite clear that this story is cor
rect The Calumet & Hecla, thu
Phelps-Dodge interests and Senator
Clark appear to preserve their indie
pendence still.
Leo Mayer, late of the "Comstock,
Virginia City, Nevada, has bought tn