The Butte inter mountain. [volume] (Butte, Mont.) 1901-1912, 1901-10-07
PLATINUM HIGHER THAN GOLD
1t Has Doubled in Price Since 1896
Status OF the Copper
Market


states that during the last two years
the price of platinum has been steadily
advancing, and now exceeds that of
fine gold, having reached as high as sci
an ounce. This is a little more than
double the price quoted in 1885, when it
reached about the lowest point in re-
cent years. $40 an ounce. At the OPEN
ing of 1899 platinum was quoted at from
Sl4.40 to $3.50 an ounce, advancing
somewhat during the year: it was quoted
at $11lo in December. This price was
quoted until April. 1900. 1t advanced to
$500 and remained at that figure until
the spring of this year. when it again
advanced. The demand is somewhat in
excess of supply and it is believed that
the price will continue to advance.
There is also quite an active demand for
the associated metals, osmium and irid-
ium, for use in the manufacture of in
candescent gas burners.
Speaking editorially of the present
status of the copper market and the APP
prehension of general collapse, the
Journal says the most disturbing ele
mentS in the stock market were the
passing of the usual quarterly extra
dividend by the Amalgamated Copper
company and a marked diminuton of
Jul SApOi Is. 1 uc IdllCI is uuc 40 lne
financial disturbances in Germany, that
empire being the principal foreign con-
sumner of our copper exports. The in
duStrial crisis there has cut off our chief
foreign market, so that our foreign
shipments at the present time ore only
about so per cent of the exports in 1900
Our total exports of copper in 1900
amounted to 16O,0s long tons, or at the
rate of 1890 tons a month. In the firs1
half of this year the exports were so o27
tons, an average of a little over $500
tons month, while in July and August
they had dropped to about $500 tons.
The proba BILE decrease for the year will
be about 10000 long tons.
The whole burden of supporting the
market rests upon the Amalgamated
Copper company, which is considered
fully able to meet the requirements. 1t
is believed that the conditions in Ger
many will soon improve. The demand
in the United States is brisk. The
Amalgamated Copper company. together
with its allied interests, control between
SO and 60 per cent of the copper produce
ton of this country.
AS Colorado produces very little cop
per. the total for 1900 being only 1926. 949
pounds, the present disturbance cuts no
material figure since all the other pro-
ductiVe industries are in the most sat
isfactory conditions. 1t is clearly shown
also that the fail in price is in no man
ner due to over production. AS a matter
of fact, under normal conditions, the
demand far exceeds the supply, which
until the unfortunate financial crisis in
Berlin, maintained the rising price. The
steady increase of electric appliances
throughout the world calls for much
greater increase of copper from the
mines than they are at present capa bile
of meeting, and although we are con-
stantly apprsed of new discoveries and
developments in Arizona. New Mexico
and Wyoming, there has been no ma
terial augmentation of yields in the last
two or three years because the Older
fields have been steadily waning anG
the newer. though Vry promising. are
not yet sufficiently developed to fill the
deficiency.