The Minneapolis journal., 1902-06-20

tlons are ultra hazardous. Should all the
mines that hope to make cheap copper carry
out their promises, the metal would fall to
known, but the majority of the new mines
viii not be able to do what is claimed for
them. There are many misleading articles
financial press, and these errors are fre-
quently found in technical publications that
should 81 be better supplied with Information.
The United Verde mine, in Arizona, is writ
ten up" nearly every day in the year, and
perhaps once month the truth is told about
pro csrk * e Monana as
usually stated, though it is controlled by
him. 1t does not pay him, or any one million
claimed. The gold and silver values do not
leave the copper as by-product made with
out out oc cost and nobody has ever refused $780,,
| hoary- headed fiction still going the rounds of
the press.
There are mines in Utah producing copper,
to 6 cents per pound, counting gold and
silver as by-products and deducting their
values from cost Of making copper. These
mines while of importance, relatively
| small. and their costs cannot greatly affect
! the general average. The Boston and Mon
large Silver values from from their t9r ores, ei and
sundry other American mines benefit greatly
by gold and silver secured as by-products.
| no American mines that secure copper as a
'by-product, without cost, in cases where the
| copper production is o. sufficient size to en-
title the mine to rank among properties of the
| first, second third class, measured by an
| nual production
The stimulus of high prices is reflected very
! plainly in the figures of production of 1901.
Norway, Japan and South Africa are the only
countries producing copper to the extent Of
yo IONS or more IN n 1899 that dd not IN
world in actual and in relative increase, and
was followed by Australasia, Chile coming
third with increase of 5000 tons. Among
the new producers for 1902 and 1903 will be
new Hidden Fortune stamp mill in lower
Deadwood. The mill is to have sixty stamps
Argentina and Venezuela
| -: On the Iron Ranges.
DULUTH, MINN.-By changes in the man
|'agement Of the Eastern Railway Of Mime
bin. who has been its manager, be-
Of mines rst f9T the Great
have all the mines the Mesaba range
cured by the Eastern, and all business con-
nscted @ Herewith will be carried on through
| The Zenith Furnace company. Of Duluth,
has bought the old blast furnace here, and 10
df co rou it for capacity of 2s
men connected with the western management
of a leading steel interest, and with prom
in within a month. Suits at law over the
1so-acre tract IN In sections Is and y, town.
M oRsnn Is beer Who 70 eG
are commencing in the courts. Preparations
| for these suits have been under way for a
are of great value, but developments close by
seem to show that the ore deposit is more
! to the north and west, and that the actual
| tonnage on the Mueller lands is small. These
| developments are not generally known, how
| ever, and the land is talked of as though 1t
was worth 81, ,0000 900. T7-s%..s -. ~ :: !,
Railway connections are being made to the
Hawkins mine, in section 50, township 81.
range %. A shaft is being sunk and ma
chine2y has been hauled in. The shaft will
be IN ore in a month or more, and the ore
to be mined this year will come from under
ground. Later it is intended to strip the
overburden from a portion OF the property
Agnew mine, in section II, township 81, range
21. they are sinking a shaft with considerable
speed and will be o. on the ore re IN IN few mon onts ha
feet of surface over the ore at this property,
The mines near Mckinley, generally spoken
of as owned by Pickands, Mather & Co. are
really the property of the Buffalo Steel COM
pany The Elba is shipping steadily and
will make large production On The &c Corsica is
month. This property is very wet, water
coming in at the rate of about 1,6oo gallons
a minute: On Pettitt & Robinson's lands, ad-
joining the Corsica the company is finding
considerable good ore and much poorer ore
| by drill explorations. .5a,
In section Is, township SO, range 10, the
Roucheleau- Ray Iron Land company and r.
B. Whteside have leased to the Eastern Min
nesota road 12o acres at 25 cents and a so, oo0-
lion tons Of ore of all grades have been shown.
The remaining forty acres has been leased
| to the United States Steel Corporation on a
25-cent royalty There is probably large
tonnage of ore on this land. At any rate, ore
| is known to exist in quantity on both sides
| Of it.
The Elizabeth Iron company's property.
three forty y-acre tracts in section 12 township
| ST. range 21, is/ now under negotiation for
sale to eastern interests at price said to be
about $4OO,0 1t is a state lease, calling Tor
a, minimum of 5000 tons year and royalty
of 25 cents ton. The state will ultimately
| the public school fund. : ~ q