Fergus County argus. [volume] (Lewistown, Mont.) 1886-1946, 1906-01-19
/ AMONG THE MINERS
LATEST NEWS FROM THE TIMING CAMPS OF
| FERGUS COUNTY AND ELSEWHERE. ~

I " FERGUS COUNTY A
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Peter Rosso, the well known Maid
en- mining man who is associated with
Oscar Stephens and r. F. Calkins, of
Chicago, in the ownership of the Cum
berland at Maiden, Is in town, and
reports that the property continues
to show up splendidly, and gives every
promise of making big mine.
The recent uncovering of good cop
per ore in the great Anaconda mine
at Butte, Mont, means much for that
greatest of great copper. producing
camps. The strike reported is at the
2,400-foot level, the deepest shaft in
that district. In an interview this
week, Mr.. John D. Ryan, managing
director of the Amalgamated COM
panys interests at Butte, said: "The
fact that mining operations at depth
of 2,400 feet. in the Anaconda mine
reveal the same continuity and perm
anent character of the ore bodies
gives practical evidence of what the
camp will accomplish in the future.
All the mines forming part of the
Amalgamated Copper company have
this year produced more ore than in
any previous year. This increased pro-
duction is to be steady and contin-
uous, and statistics prove that Butte
has responded each year within the
past 20 to the natural increase in the
copper produced throughout the world.
The resources of the Amalgamated
Copper company were never in better
shape, the company's timber lands
covering an immense area, while it's
coal properties in Wyoming are cap
able of shipping 5000 tons of coal
every "a hours. The Washoe smelter
is now in position to handle 10000
tons OF ore per day."
Most notable of features in the mar
ket for bar silver in the last year
was steady increase in price, until,
On December 20, silver was sold in
New York as high as 66 cents troy
ounce and the London quotation reach
ed 30 Sled a standard ounce This
was the highest price obtainable for
silver in 1896. There has, however,
been a steady improvement in price
during the last four years. The av-
erage New York quotation for 1902
was 52.16 cents an ounce; for 1903
1887 cents; for 1904, 1892 cents, and
for 1905, the average will exceed 60
cents. The lowest monthly average
in 1902 was 1907 and the highest
$3.50. In 1903 the lowest monthly
average was 1872 and the highest
60.37. In 1904 the lowest average
was 53.43 and the highest 6056. In
1905 the lowest monthly average was
$3.50, and the average for the month
of December will exceed IS centsI
Increased wealth and population of
the world are continually requiring in
creased coinage of silver, both for
countries using silver alone and for
subsidiary coinage of so-called gold
countries. In the last ten years con-
sumption of silver in arts and manu-
features has increased from about 16
per cent of the worlds production to
80 per cent. The result has been
consumption of silver in the last year
largely in excess Of production, and
as no stocks of bar silver are held
or have been held in any market for
several years, this over consumption
has been supplied by denuding silver
using countries of their coinage. In
the last few months there has been
sold from the Mexican circulation and
Mexican reserve held against paper
circulation probably $2O,OOO,OOO. This
seems to indicate that the Mexican
government intends to issue gold Ger.
tif1cates to take the place of currency,
which must be retired through sale of
silver dollar reserves. So long as this
process continues and this supply is
upon the worlds market at approx
mately the currency ratio adopted by
Mexico, namely. so cents gold for
silver dollar, the silver market cannot
advance too much. if any beyond the
present market price of IS cents to
66 cents; but as soon as this supply
is exhausted or is withdrawn from
the market there seems no reason to
doubt that the price prevailing before
the closing of the India minis can be
confidently expected.-Mining World.
Under date of September 20, 1905,
Mr.. w. H. Twelvetrees, government
geologist. reports the mineral produc.
ton of Tasmania for the quarter end
ing June 30. 1905, in comparison with
the preceding quarter. The gold, he
notes, was obtained according to
source as follows: From quartz, g.
432A ounces; from alluvial. 113 oun-
ces; by means of cyanide and chlori-
nation processes, 1.670A ounces; from
blister copper. 6,006 ounces; from
silver-lead bullion, 1876 ounces-a to-
tai of 16,406k ounces, equal to 49,
170,296 ounces of fine gold, valued at
f68,687. There was a loss in produc.
ton of about 1886 ounces as COM
pared with the preceding quarter. The
value of the total output of gold for
the first six months of 1905 is given
as e143.857. or about $4,000
The Chicago Mining World in re-
ply to an inquiry as to the value and
production of sapphires, says: There