Bisbee daily review., 1905-01-08

SnS.l
 The United States produces consi3- erably more than hair of the copper made in the entire world. and, despite important developments in copper mining within the past few years~rIl Mexico. Canada, Peru and other coun- tries. and the likelihood that large mines will be opened in central soutA- ern Africa, is in no immediate danger of losing the unique distinction of making more than a moiety of the world s supply of metal that ranks second only to iron in importance.
 The year now closing has witnessed a readjustment of the copper trade to sounder business conditions. and the manipulation Ol prices in 1899. 1900 and 1901 has been overcome by the un- hampered working of the natural laws of trade. The price of the metal is nearly two cents higher at the clos of the year than at it's opening. but the higher price is based upon the op- eration of natural causes. and not up en the efforts CT powerful producing forces to extort unwarranted prices from consumers A continuance of high prices may be looked for during the greater part of 1905, and, perhaps for a longer period. The efforts of the Secretan Syndicate in the latter eighties. and of the Amalgamated Copper company in the late nineties, having failed ingloriously. it is to be hoped that the market will be allow cd to find and keep its natural level, prices being made, as in all other commodities. by the mutual necessi- ties of producer and consumer.
 The year 1904 has been a prosper ous one in the American copper trade, and ends with higher prices and bet ter prospects than it begun. The net profits of the better mines have been laTge-not so great as during the boom period of 1S99-1901. but ample and satisfactory, and 1905 should give considerably better returns. The effect Of the boom of five or six years ago is seen in the figures of produc- ton of the present year, the mines then planned being producers.
 A beginning of the American copper industry was made in New Jersey nearly two centuries ago, but in this modern day the only part that New Jersey plays in the copper trace is n the furnishing of charters for mining companies that do not care to be troubled by supervision of any sort, or the necessity of telling their share holders anything more about the busi- ness than may be deemed sufficient by the directors New Jersey charter is me thing for the directors, 1T they see fit 10 utilize their privileges al the expensee of the shareholders. A lit fYa be NT~z England states during the first half Of the last century. but the output never reached importance. and it was not un- iii the f-si mines of Lake Superior were opened in tn fourth decade of the nineteenth century that the United States became a factor in the worlds copper trade. For many years Lake Superior remained the only important source Of copper supply, but a little copper was made in Tennessee and Al abama before the Civil war. and ATi- zona copper was first produced on very small scale in 1877 under great disadvantage. Montana became q producer in 1880 and within Q few years rivaled Michigan in production, eventually becoming an even larger producer, though Michigan is steadily increasing production, and Montana has remained practically stationary ii output for several years past. due partly to litigation. and partly to the fact that Butte, the sole producing camp of importance in the state has reached its apogee as a maker of cop per, and. while certain to remain large producer for many years to come it will De all that can be expected if the camp can open new mines rapidly enough 10 take the place of the olde- properties that are declining in pro duction. Within the past decade Cali fornia ana Utah have become large copper producers, and important min ing developments are under way in number of other western states.
 The following table gives the exact figures of copper production by states for 1903. and estimates of output by states for 1904 The exact figures for the year will not be available for near ly or quite six months to come, hence the 1904 figures must be taken merely for what they purport to be, that is. estimates of production bazed upon the best information available at the close of the year, and subject to re- vision throughout by comparison with the actual products, to be determined some months later:
 Hounds Avoi-dupois.)
 State 1904 1903
 Montana ..2s7, 100000 272, ,555, ,s54 Michigan - 2GS. .25e,e00 192 ,229,I91 Arizona I9l 900 900 14764S2 27i