The White Pine news. [volume] (Treasure City, Nev.) 1868-1906, 1900-03-29
SOME FACTS ABOUT COPPER.
BY a Man Who Knows.

Horace j. Stevens, Michigan S Com
missioner of Mines, in a recently pub
lished article, gives some very interest
ing facts concerning the future of the
copper market, from which we quote
the following:
"The commercial position of copper
is strong, with every prospect of re-
naming so. The advance in price, be-
ginning nearly two years ago, was not
due to manipulation, as is still believed
In Europe aud frequently echoed on
this side of the Atlantic The market
simply got away from the purchasers,
who have been making prices since the
collapse of the Secretan syndicate in
1888. The visible supply of copper in
the world was reduced from $780, 900
tons to the small figure Of 80, 600 tons
which is less than the actual consump-
ton of six average weeks. The great
awakening in American industry, be
ginning two years ago, was coincident
with the increased activity in Europe,
and copper Joined iron, steel, tin, zinc
and nearly every other metal in SEN
sational advance. Iron and steel dou-
bled their prices, and so did copper,
though it has now receded to Is cents
per pound, around which figure it will
probably remain for at least two years
to come.
The "authoritiesn who speak and
write so knowingly of manipulated
prices and the unavoidable collapse of
the near FUTURE are deyoting more
time and study to Wall street and the
methods of high finance than to actual
conditions affecting the copper indus
try. Copper is standing ON its merits,
and the price is made by strong and
legitimate demand which is crowding
the mines of the world to fully meet.
That the present price cannot be per-
manent ly held is not only possible, but
altogether probab BILE, but the break will
not come until production begins gain
ing materially on consumption. When
this will happen no man can foretell,
but present conditions and prospects
Indicate that it will be several years be-
fore the many new mines can add so
materially to the world 5 copper supply
as to disturb the nice balance now ex-
isting between the mining and the use
OF the metal.
OF all the new mines of the Lake SUI
perior district, into which millions OF
money have been poured in the past
three years, the entire number will not
produce per cent of the copper mined
in the district during the present year.
1t will be three to five years before the
production of the new mines collective
ly will add very appreciably to the ton
mage OF the district. The opening oil
new native copper mines in the Lake
Superior district Is a matter OF years o.
time and millions of dollars. To some
what similar extent, though perhaps
less time and money is required else
where, copper ore mines in other Amer
lean fields are slow and costly in devel
opment. In the aggregate the supply
| from the world IS new mines is OF i'm
portance, but relatively the increase
from both old and new mines Is smaller
/ than in most of the new metals. Ac
cording to the most reliable figures a
hand, which are fair approximations
though not final and authoritative, the
world s copper production last year wa
475, 900 tons, as compared with 424, 00'
tons in 1898, while the output of thu
United States was PCS, 900 tons in 1898
as compared with PA, 900 tons for thu
preceding year. This gives an iDcreas'
Of ID per cent In the output OF the Uni
ted States and of II per cent? the en-
tire world, while the increase outside o
the United States was only per cent
the United States making over 30 pc
cent OF the copper of the world. TIL
increase of 10 per cent in American cop
pei. production was less than the in
crease in consumption Of this country
while the increase OF 5 per cent for tn
balance of the world was absorbed b.
Europe, despite the higher range Q
prices, which necessarily restricted con
sumption in many lines of industry.