Bisbee daily review., 1902-09-27

Alaska.
 Houghton, Mich, Sept 26.-The' fig.
 ures of Prof A. R. Ledoux. which are
 accepted as thoroughly reliable by
 the best posted men in the trade. show
 that there is only trifie more than
 two months copper supply in the
 world-possibly not quite so much
 This is no more than needed to pro-
 vide for ordinary trade. contingencies.
 Production gained on consumption
 last year because the price of copper
 was too high. Consumption has over
 taken production this year because the
 metal has been selling very cheaply.
 The fair price of copper-the mean
 at which production and consumption
 will find balance-is somewhere be- tween 12 cents and r cents a pound. An advance of l to 2 cents a pound will not largely curtail consumption, while it will permit all the mines real ly having right to live to work at profit while paying good wages.
 The stamp at the old mill of the Wolverine is being taken to the new Phoenix mill, and the mine will be making copper in a few months The present showing in the bottom levels is probably the best ever known at the mine, and while the Assure veins are narrow, their wonderful richness at the present time gives great encour- agement.
 The South Range mines have long passed the point of disparagement, and it is now conceded by the most conservative that the three mines of this group will constitute one of the most important sources of copper sup ply of the globe within the next few years. There is a great diversity of opinion as to the average amount of copper likely to be secured from these but it is probably a safe esti- mate to figure on returns of twenty five pounds of refined copper per ton from the Baltic. thirty pounds form the and thirty-five pounds from the Champion. This will place the average return from the Baltic | lode above that of any other amygda | Ibid bed in the Lake district, it's near | est follower being the Kearsarge lode on which are opned the Mohawk, Vol l verine, Kearsarge, South Kearsarge | and Centennial mines.
 The continuance of heavy copper | and excellent stamp rock in the lower levels of the Tecumseh give promise | that this property may become pro l ducer.
 The shipments of copper by Lake | mines and smelters continue briskly, | and there are no accumulated supplies | anywhere in the Lake district. All | rail shipments during the winter are 
 The capital stock of the Atlantic will soon be increased to 100000 shares, from the former issue of 40.- 900 shares, giving every shareholder change is made to bring Atlantic up to grade with the other Lake mines, most of which have the full issue of 100000 shares allowed by the Michi- gan laws. Tamarack, with 60.0O0 shares. will remain the principal CT ception to this rule. Considering that the Franklin com pany has but two shafts in commission one at the old mine and one on the in the Junior property, the present minesaI prodution is sur prisingly large. Last months output was about 375 tons only. due to the fire at the old mine shafthouse. The Fraklin has suffered more frequently from fire than other mine in the dis trict, and many of the fires have brok- en out at such times and under such circumstances as to lead to suspi- cion of incendiarism. Fortunately, the Lake mines, owing to their having na- five conner carried in a galgue of met amorphosed trap rock cannot burn up, and are therefore exempt from the dangerous fires to which sulphii5 ore mine sare so subject
 ? The Victoria people are going ahead steadily with underground work and the development of their great water power The latter asset is one that will become more valuable with the passing years The consumption of soft coal by Lake mines is now near ly 100000 tons year; and the prop erty possessing natural power has a