The Marble times and Crystal silver lance., 1901-01-18
The Future Of Copper Mining.

SemDle eltu olDef hu Hfoo SiShu' Any
iron trade has been aptly called the
barometer of American business inter-
ests, and, like the real barometer with
it's columns of mercury, its fluctuations
are numerous and at times sudden and
severe. The average iron mine can be
reopened on short notice after long
idleness, but the reopening OF copper
mine is matter of years. The iron
miner must adjust his efforts to the
requirements of the marketfor the near
future, while the producer OF copper Is
necessarily working with view to the
general average of conditions for q
decade to come, being unable TO adjust
his efforts as a whole to the minor
fluctuations of the copper market. The
big mine can, of course, adjust pro-
duction to immediate demand to some
extent, but the fuctuation in output of
even the largest mines are compara-
lively slight. The stimulus OF very
high prices enjoyed by the Lake Su-
peyior copper mines for the past two
years has resulted in increasing the
annual production of the red metal less
than ten per cent. per annum. John
| Stanton, OF New York the veteran
authority on the American copper
trade. estimates the increase OF pro-
duct of copper for the entire United
! States at not more than ten per cent.
for the year 1900, the increase for the
first half of the year being but nine
per cent. This increase is barely sui1i-
cieut 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 fourishes of trum-
pets and the tens of thousands OF doll
ars expended in the columns OF the
press, advertising the numerous Calu-
met and Heclas in embryo, which were
to make their shareholders wealthy on
small investments, the production of
all the new mines, together with the
increased output of all the old mines,
did not exceed ten per cent. last year,
and probably will show no greater
gain in 1901. The immediate future
OF the copper market seems assured.
With 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 de-
mand and supply. What may be the
future of the copper market in five or
ten years is matter of conjecture.
The high price is stimulating produc-
ton, and while, from the peculiar con-
ditions surrounding copper mining. it
is impossible to open new mines rapid
ly, the nature of the business is such
that strong stimulus once applied is
more lasting in its effects than in in
dustries where supply can more readi-
ly respond to demand.
There are many good copper mines
being opened throughout the union,
and many more new mines in other
countries. In few years the effect of
renewed effort in copper mining over
the entire globe must be plainly felt in
largely increased production. This
much is certain, and what the effect of
double production will he within six
or seven years must depend almost
wholly upon the progress of electrical
z S.bO,,1J ln IN
of electricity proceed at its present
rapid rate OF increase both in America
and abroad. the worlds supply Of cop
per in 1867, which will probably be
nearly double the production of 1900,
will not more than meet the require
ments. Should, however, there be
marked falling of in electrical con
struction either in the United States or
Europe or in both, there will be hard
times in store for many of the mines,
and Scent copper is probable for q
time. The best mines OF Michigan,
Montana and Arizona are making
copper at to 8 cents per pound, and
the cost of production can be material
ly cut if the necessity arrives.
Unlike the gold, silver and copper
mines OF other districts, operated on
fssure and contact veins, the cuprifer-
Gus lodes of the Keweenaw peninsula
are apparently bottomless, though as
matter Of fact the copper bearing
formation extends under the bed OF
Lake Superior, the reverse fold of the
cylindrical outcroppiogs onIsle Royal,
forty miles to the northward of the
shafts on the mainland This elimin-
ates very largely the element of hazard
as to the continuance of the mineral
reserve which are the future life of any
mine, and the conservative manage
ments of several of the best properties
have pursued fixed policy OF better