Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1906-10-15
A Phenomenal Rise in Price Of
Metal Has Been Noted Dur.
ing The Past Year.
GEOLOGICAL SURVEY REPORT.
Exhaustive Tests Made by Government
Onicials--Orc i Found In
southern Utah

a.
In The price Of platinum and greatly
increased production in the United
states, The annual report OF the Unit
cd States geological survey on the pro-
duction of platinum. prepared this year
by Mr.. +, W. Horton. contains details
of exceptional interest IL shows that
early in March. 1906, the price Of ingot
platinum advanced from $40 80 an ounce
to 81 an ounce. SURPRISING gold in
value. ON April l. 1906 the price fell
10 S20.50 and remained firm at this
quotation until Feb. t. 1906, when II
jumped to S25 an ounce, whore It re-
manned until Sept. /, on about six weeks
ago when II leaped TO the unprece-
dented value of s34 an ounce. MIR. Hor-
tons report also shows that the pro-
duction of platinum in the United
States increased from 200 ounces in 1904
10 SlS ounces In 1905.
The rise IN the price OF platinum and
It's increased production In this country
may be ascnbed to two causes. the
growing demand for the metal and the
reduced yield Of the Russian platinum
placers, which usually furnish about 70
percent Of the worlds supply.
The anxiety felt by the platinum
dealers during the Japanese-Russian
war has not abated since the settle
ment 81 International difficulties, but
has rather increased as Russia's inter
nal disscnsions have developed. Even
before the uprising. 1t Is SAID, me
large Russian mines were purposely
curtailing their production rms re-
duction of the output Is due 10 inc
fact that the entire product Tor Il
varying term Of years Was bought UP
under contract and at prices that now
seem ridiculous low. AS the mine
owners receive only the flNt price
they do not participate IN. any gain due
to rise I'm value and are therefore not
DESTROYS Of large production, hut are
outstanding the limited resources OF
their mines until such time as they
can dispose OF their product 70 better
advantage Meanwhile the small mines,
which. generally speaking are NOT
hammered by such agreements, arc
working to their full capacity 10 take
odvaiitage of the stimulated prices
but their entire output Is only y sma.
rerccntage of what Is usually producer.
A greatly Increased CONSUMPTION OF
platinum in the electrical ana cheihlcal
Industries. together with TINS strinsen
cv OF supply accounts for the preVah-
! ing high prices ,,t,,
The exhaustive tests ana examine
tous of slack sands commenced ear
IN tao5 IN connection with the Lewis
and clark exposition. and still being
carried ON at Portland or by the
Irnited States geological survey, nave
done much toward placins platinum
mining I'm this country upon staple
fnoting and developing 1t into per
p,anent and profitable industry. MOI
onrv have many discoveries OF platih'
nm, i'm new localities been maze, pu'
! ,ha tests have revealed the faet tha'
1 ,hare are IN this country districts
which contain surprising quantities ul
| ,,atb,um and they have also gwen
much valuable data as 10 the peS'
method of obtaining II. .u,
The platinum metals are usuun'
found in working gold placers' sspeei
| ally where the graveis are uerNe'
rom peridotites. Many managers -
| nlacer mines have been cohNlhceu ~
n long time that 1t would pay 70 s,S
the platinum in the graves, IL u Nv.
be done by some mexpensNe m ra,,io.,
,rha experinents Of the Geological
| en,vov which were conducted unue
,he nInervision Of DR.. David !. Day
have shown concluslVely that 70 TO y
nsr cont OF the precious metals, DOT
goId and platinum contained IN I'M
| luirc box sands can be saved on con
anrtratinp tables Of the Pinder o
| yvildev TYNE such as are used IN every
dav nractlse: and that I'm most case
No concentrates thus obtained VIII rep
resent less than per cent OF the tota
weight of sand fed to the table
resides discussing the experiment
r,ade i'm the recovery of platinum II
mis- country. Mr.. Horton describes IN
utethods OF extraction in vogue IN Rus
sia lie also reviews the localities !
which Mountaineering graVels nay
heen noted In Russia, Columbla, brllis
columbia, and other countNeS y.
scribes the physical properties OF p.a'
m,,m aud its associated metals, an
ts sorth their uses. A brief bibhoe
lIranhV of platinum, with which the r.
nort closes. Is not its least valuab
feature. ...
m should be noted that the imporl
NJ platinum during 1905 We're value
az e. Ia. 269 as against Slsl9,lb5 In $50
IN increase In value OF S2gilOe. consit
erine the Increased demand for plat
ann Inc gain in importation is Sigh
mi ~ the high price and scarcity OF u
metal be taken into account the wohd'
~ Thai there was not large decrea
i'm the quantity imported
This report of Mfr. Horizons Il pul
ushed as an advance chapter OF u
annual volume. Mineral Resources
The United states. 1906, and is di
tributed, free Of charge. on applicatio
platinum ore Is found Ia one count
I'm Utah--Garheld,