The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-11-04
sEANcR FoR PLArINUM.
American Users OF the Metal Anxious
About the Outlook.

About the outlook.
One OF the most interesting pursuits IN
America to-day Is he search for platinum.
Wealth awaits The discoverer OF the metal
in paying quantities upon TINS comment.
It's rapidly increasing use makes Il n Of
the most valuable metals In the worio.
Heretofore its production has beer linn
tied chiefly TO Russia and some South Amer
lean countries, Russia furnishing e5 per
cent. OF the worlds supply, but there are
many indications that Quantities OF IL will
be mined in the United States in a few years
at most. Several American firms have
sent out their wi ~prospectors to search
for II. From time to time rumors circulate
that large deposits Of platinum have been
discovered in the United States, but no
such mine is being worked 90 far a. the
information Of the trade goes.
The price OF platinum has one up greatly
within the past three months. It is now
worth $40 an ounce By January it viii
probably be UP TO $40. There il q growing
fear among the users OF the metal that the
supply in this country will be oornered and
put up TO even a higher price.
A member OF a Gold street gold and sf-
yer refining house voiced the sentiments
OA u BISdL many OF INC uoct5 VI ~ hOtdt
in a remark he made the other day.
The outlook is disoouraging,' said this
dealer. If the price Of h metal goes
much higher I do not know what We will
do. The situation Is alarming.
$50 far as I know there isn't an ounce OF
the metal being mined in this country, and
the mines in Russia are practically inactive.
The labor troubles over there are playing
hob with many business interests.
take the jewelry trade. A short time
ago platinum was used very extensive ely in
connection with II karat gold. Now there
isn't a bit Of it being used that way. Its
use to the jewelry trade Is confined almost
entirely to diamond setting. 1t is used to
give color to the stones. and OF course the
higher it zoe up in price the costlier such
diamonds will become"
Platinum is used in the manufacture Of
many articles Of m and nothing has
been discovered that can take its place.
II enters into the manufacture OF telephones,
but not enough to affect the cost Of them to
the public. Dentists Use the metal extern
sively in the making of plates and these
have gone up in price.
In the manufacture of ~incandescent
electric light bulbs platinum plays an i'm
portant part. The short intake wires
which pass through the glass and carry the
electric current to the filaments must be of
this material. as IL expands and contracts
equally with glass at different temperatures.
No other metal does this.
Platinum has also uses in analytical and
technical laboratory work which no other
metal will serve. In photography IL pro-
duces a picture which is regarded as alb
solutely permanent.
II Russia should prohibit the expectation
Of platinum it will make trouble in the bust
ness and scientific world. And in the
trade it is regarded as not unlikely that the
Russian Government may take some such
action owing to the disturbed state OF the
empire. Miners, it is said, cannot be OBJ
tanned to get out the ore.
As far as is known. platinum exists in
immense quantities in the Ural Mountains,
but the Russian Government will not allow
any foreigner to go near the mines or to
search for platinum. According to reports
circulated among r%eflners. the Russian
Minister OF Commerce is now considering
the advisability of either placing a heavy
export tax on platinum or prohibiting
altogether it's expectation except after it
has been refined in Russia.
The German Government is also awake
20 the necessity Of outstanding the supply Of
the metal. Last year h Reichstag had
several bills under consideration to prohibit
the use of platinum in Germany for other
than analytical and scientific work.
Nearly all the metal now exported from
Russia is I'm the form of ore. The United
States imported in the fiscal year ended in
June last s,269 pounds of platinum valued
at g., 67s,5fe. more than the worlds annual
production fifteen years ago.
Gold is worth to-day $40. OCT an ounce,
while platinum, worth $50 an ounce, lis still
going up.
One reason why platinum has been 40
tardy Of discovery in this country is the
difficulty Of extracting it from ore by heat
or acid or otherwise. IL il thought moi at
all unlikely that the metal has been dis
carded in Stag after all other metals had
been extracted. Under these conditions 1t
may occur in the ratio of three or -four
ounces to the ton and it can easily be under
stood what a difficult problem is involved
in its extraction.