Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1900-12-15

Mr.. Stanton's statement show very liz
tie change. The total output this year
has been 44,053 tons, an increase of only
424 tons, or a little less than l per cent,
over the previous year.
These foreign reporting mines include
all the leading mines in Europe, uca
as the Rio Tinto, the Mansfield, the
Tharsis, the Libiola and others, and we
know of no special reason why their
production should not have increased,
except the fact that some of the depos-
it's owned by the Tharsis company are
beginning to be worked out.
The strike Of the workmen at the Rio
Tinto did not become general until aft
err the close of the half year, and the
shipments from that company's mine
have been fully UP to the usual stand
ard. 1t is quite probable, though, that
the European mines cannot be expected
to assist materially during the current
year in meeting any increased demand.
Outside of the mines to which we
have already referred, there have been
no important changes in production.
The shipments of copper from Chill
have shown some increase, and there
have been mines opened in Peru which
promise to be of some Importance, but,
on the other hand, there has been no
gain in the Australian copper, and the
stoppage of the Besshi, the largest cop
xa, x.:.a l., Toro, u-lioh u,ne HpnJn I
| last fall, has not been made up from
/ any quarter.
To return to our copper production,
the consumptive demand in the United
/ though hardly up to last years stand
ard. On the other hand, there has been
an extraordinary demand for copper for
export, and the total quantity shipped
to foreign countries this year is no less
than 9O,229 long tons, or 81 per cent OF
our total production.
The exports were greater than those
of 1899 by 81, 945 tons, or 1928 per cent,
and were by far the largestever re-
ported.
In January last WI referred to a
strong indication that foreign manufac-
turers We're carrying unusually light
stocks, and our Paris correspondent has
frequently stated that the French and
German were running rath-
er dangerously close to the point of ex-
haustion.
LARGE BUYERS.
The European manufacturers gener.
ally seem to have realized hal they
have held off quite long e~nough-per-
haps too long-in replenishing their
stock, and nave recently been very
large buyers at current prices.
We do not think that this movement
is at an end, and it is very probable that
exports from this country will continue
large for the coming year.
These exports will support prices and
will more than make UP for any falling
off in the home consumption; and, in
deed, that falling off is not as large as
has been generally supposed.
A year ago we heard a great deal
| about the price of copper, which some
people assured us was %prohibitory, and
+ would cause a large decrease in con-
| sumption and the substitution of other
metals.
We did not 1T the time attach much
Importance to these predictions, and the
results so far have certainly justified
our view that no substitute for copper
was possible, and that the demand
would be really very little curtailed by
the higher prices.
1t Is true that aluminium has beer
used for a few electric installations, but
the quantity of copper thus displaced il
very small indeed, and the makers Of
aluminium do not seem able to supply
it in sufficient quantity to cause any
apprehension on the part of copper pro
ducers.
The high prices have limited con
sumption very little, If at. all, since il
a period of general Industrial activit!
like that through which we have beer
passing, the question of price and cos
is apt to be but little considered in com
parison with time.