Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1900-12-22
The FUTURE OF
COPPER MINING.
It Is Dependent to- a Certain Extent tt
Growth in Electrical Construction
Throughout the World.
MINES ARE EARNING LARGE PROFITS.

one, says a writer in the Seattle Times,
much as the two lines of mining resem-
BILE each other at first sight. The iron
trade has been APPLY called the barom-
eter Of American business interests,
and, like the real barometer with its
Of mercury, the fluctuations are
and at times sudden and Sc
we're. The average iron mine a be re-
opened on short notice after long idle
ness, but the %reopening of a copper
mine is a matter of years. The iron
miner must adjust his efforts to the re-
quirements of the market for the near
future, while the producer of copper Is
necessarily working with a view to the
general average Of conditions for a dec
ade to come, being unable to adjust his
efforts as a whole to the minor fuctua-
lions Of the copper market. The big
mine can, of course, adjust production
to immediate demand to some extent,
but the f~luctuation in output of even
the largest mines are comparatively
slight. The stimulus of very high prices
enjoyed by the Lake Superior copper
mines for the past two years has re-
suited in increasing the annual produc-
ton of the red metal less than 10 per
cent per annum. John Stanton, OF New
York, the veteran authority on che
American copper trade, estimates the
increase of product of copper for the en-
tire United States at not more than 10
per cent for the year 1900, the increase
for the first half of the year being but
8 per cent This increase is barely suf-
ficient to provide for actual require
ments, and the increased production OF
foreign lands is scarcely as great as the
average in this country.
Despite the many f1ourishes of trum-
pets and the tens of thousands of dol
lars expended in the columns Of The
press, advertising the numerous Calu-
met & Heclas in embryo, which were
to make their shareholders wealthy on
small investments, the production of all
the new mines, together with the in
ClGdSCu ulpuI VI oll tHS oi AAAAS 49,
not exceed 10 per cent last year, will not
exceed the same amount this year, and
probably will show no greater gain in
1901. The immediate future of the cop
| per market seems assured. With a
| strong and steady demand for all the
copper that can be mined, the price Of
the metal, high though it may be, is
supported by the logic of demand and
supply. What may be the future of thS
| copper market in five or ten years is 8
matter of conjecture. The high price
is stimulating production, and while
from the peculiar conditions surround
ing copper mining, it is impossible tt
open new mines rapidly, the nature O
the business is such that a strong slim
illus once applied Is more lasting in 1T
effects than in industries where suppl!
can more readily respond to demand.
There are many good copper mines
being opened throughout the union, ant
many more new mines in other coun
tries. In a few years the effect of re
newed effort in copper mining over tn
entire globe must be plainly felt il
largely increased production. Thi
much is certain, and what the effect 0
doubled production will be within 81.
or seven years must depend almos
wholly upon the progress of electrica
development. Should the utilization o
electricity proceed at it's present rapi
rate of increase both in America an
abroad, the worlds supply of copper i
1907, which will probably be nearly dou
BILE the production Of 1900, will not NOR
than meet the requirements. Should
however, there be a marked falling Of
in electrical construction either in tt,
United States or Europe OF in botf
there will be hard times in store 70
many of the mines, and SC copper
probable for a time. The best mines 9
Michigan, Montana and Arizona ar
making copper at 6 to 9 cents pc
pound, and the cost of production ca
be materially cut If. the necessity a,
rives.
The mines are now earning large
profits than ever before in their histor!
and are paying the highest scale
wages, while expenditure Is not beln
stinted in any direction. This policy {
!, lavish expenditure in prosperous tins
is censured by many short-sighted an
greedy shareholders, who grumble b,
cause all Of the vast profits are not pal
, out in dividends as rapidly as earne'
but the well-managed mines are pu
ting themselves in splendid position E
withstanding the sings and arrows
outrageous fortune when a time
trouble comes. Enormous surplus funt
o are being accumulated, new mills a
r being constructed and filled with Il
best and costliest machinery, new doc
!. are being dredged, wharves and war
. houses built upon their banks, railroad
. are being constructed, shafts enlarge
mammoth hosting plants and air cor
pressors installed, houses erected +
! employees, and money is flowing like w
ter into scores Of channels.
u Perhaps some of this cash is waste
but the greater part Is being wisely e
J pended, where it will remain in safe
and return good interest. All these e
penditures mean greater efficiency
: mining and milling, a large scale of o
erations, greater production per ma
smaller losses in the tailings, with m,
ing, transportation and milling chars
reduced to the minimum. When t
time comes, as come it must, sooner
later, when the metal again sells at
or lower, the good mines nov spendi
!! money so freely will be in a position
rest on their arms and earn excelle