The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-09-06
THE FUTURE. OF COPPER
Has the Corner Been Turned in the
Period of Depression?

HOUGHTON,: MICH:-One year ago the
copper trade was booming. New mines
were promising. dividends on the basis of
permanent market price Of II cents a
pound for the metal, and speculation in
copper shares was rampant. In view of
the collapse of high, prices in spite of the
strength Of those supporting the market,
it is possible that prices may advance In
spite Of the strenuous efforts made to
prevent such an advance: In short, the
expressed opinions Of the Analgamated
Copper company and United Metals Sell
ing company weres soafar9 from the truth
one year ago, that little credence can now
be placed in the opinions coming from
that source, and the true situation must
be deduced from a careful study of the au-
thentic data at hand. h.
For some years past the figures Of cop
per production Of the world show a steady
annual increase Of 6 to, 10 per cent year
ly. The figures of consumption show a
proportionate- Increase Beginning with
1900 the figures of consumption must be
accepted with certain reservations, owing
to the switching about of supplies
The advance in the price Of copper be-
ginning in 1897 was a legitimate one, based
upon requirements. Later on this advance
became a manipulated one and the IT,
cent price maintained in 1901 until about
the close Of the year was purely artificial.
1t was so held by the great majority of
Of raw copper carried by manufacturers
were allowed to run down to the lowest
point known for many years.
A careful review of the entire copper
| situation, In Europe as well as In America,
| and with due regard to the various sources
| Of supply, leads to the belief that the
| present situation Of the metal is sound,
and that under normalconditions, advanc-
| ing prices may be looked for. The extent
| Of the probable advance cannot be fore
| told but 1t seems likely that with copper
selling at 10 to IA cents a pound enough
metal could be produced to meet the
worlds requirements. A difference OF one
on the yearly output of the worlds mines.
and six millions on the production OF
! American mines.
The effect Of II to 12-cent copper upon
| the mines has been very marked. 1t Is
| less than a year since the break In the
metal market, but many mines have beer
! closed down. It is true that only a few
Of the mines suspending work were large
producers, but several of them would have
become factors Of Importance in the sup
: ply Of the metal in the next two or three
years.
! A feature Of the copper situation thai
has not received sufficient attention /:
the partial CT complete Gripping Of severa
important mines within the past few
weeks. In the lake district the Tamarack
Isle Royale and Osceola mines are work
ing under check with a corresponding re
duction in output In the Montana dis
, trict the Boston & Montana Is probabl!
making more copper, than ever before
possibly 10 per cent more than In 1900
, The Anaconda is turning out more or
than ever before but Is not making a
much copper. The Montana Ore Purchas
, ing company is hampered by injunctfons
and has recently lost a3"big concentrating
fc Nof
ducing to anywhere near its full capacity
The Parrot is large produce, but
scarcely making as much metal as tw
2 years ago. o..
3 In California the Mountain Copper com
Y pany has recently suffered from fire, an
j the great United Verde, at Jerome, Ari
t zona Is now in flames. It need not prov
. surprising IL the United Verde is elininat
ed from the situation as a producer TO
t many months to come. the fire is NOR
+ serious than is generally understood, an
, the smelter plant IS right above the mine
In Mexico the Greene Consolidated is suf
fering from lack, Of water, and in conse
dt1ence is. not producing to anywhere nea
= its fun capacity. All of these things ar
materially restricting American cope
: production at present.
PRAIRIE DU CHEN, WIs-Eddie Ka
! lima, aged 10, lies in a critical condition
:. He picked up a dynamite cartridge, set
!, on stump and, mOt1Oning his yOunge
: brothers and sisters aside, struck it wit
a hammer. The explosion lacerated hi
body and tore off his left hand.
s FERGUS FALLS, MINN.-Julius f
e Bender & Co. Of this city filed a petitio
: in bankruptcy placing their total asset
9 bilitiesl at $7,117.52. The firm was for
. I roerlv in the saloon, business at WaverI5