The new enterprise. (Madison, Fla.) 1901-1908, 1907-03-14
WEALTH FOR PLATINUM FIND
ERS.
The Metal is Now Much More Pre-.
eious Than Gold.

Z 'HS Veta' 10 wv" TVuSH Wo'e Nv
eious Than Gold.
One of the most interesting pur-
suits today is the search for platinum.
Z Wealth awaits the discoverer of the
metal in paying quantities upon this
continent. Its rapidly increasing use
makes it one of the most valuable
metals in the world.
Heretofore its production has been
limited chiefly TO Russia and some
South American countries. Russia
furnishes So percent Of the worlds
supply. but there are many indications
that quantities of it will be mined in
the United States in few years at
the most. Several American firms
have sent out their own prospectors to
search for II. From time to time ru-
mors circulate that large deposits of
platinum have been discovered in the
United States, but no such mine is be-
ing worked so far as the information
of the trade goes.
The price Of platinum has gone up
greatly within the last three months.
Il is now worth s36 an ounce. BY
New Years it will probably be up to
$40. There is a growing fear among
the users Of the metal that the supply
in this country will be cornered and
put up to even a higher price.
\ member of a gold and silver re-
ining house voiced the sentiment of
great many of the users Of the metal
in a remark he made the other day.
"The outlook is certainly very dis
couraglng," said this dealer. IF the
price OF the metal goes much higher,
| do not know what we will do. The
situation is alarming.
so far as 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 ex.
tensiyely in connection with 14.karat
gold Now there isn't Il bit of II be-
ing used that way. Its use to the
jewelry trade is confined almost en-.
tirely to diamond setting 1t is used
20 give color to the stones, and, of
course, the higher ii goes up in price
the costlier such diamonds will be-
come"
Platinum is used in the manufacture
of many articles of commerce, and
nothing has been discovered that can
take its place. 1t enters into the
manufacture of telephones, but not
enough to affect the cost of them to
the public. Dentists use the metal
extensively in the making of plates,
and these have gone up in price.
IL the manufacture of incandescent
elsctric light bulbs platinum plays an
important part. The short intake
wires which pass through the glass
and carry the electric current to the
iilaments must be of this material, as
it 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 photo.
graphy 1t produces a picture which is
regarded as absolutely permanent.
II Russia should prohibit the expor.
tation of platinum it will make trouble
in the business and scientific world.
And in the trade 1t Is regarded as not
unlikely that the Russian Government
.aay take some such action owing to
the disturbed state of the empire.
Miners. it is said. cannot be obtained
to get out the ore.
Nearly all the metal now exported
from Russia is in the form Of ore.
The United States imported in the
fiscal year ended in June last, e,269
pounds of platinum, valued at s2,67s,.
SAG. This was more than the worlds
annual production fifteen years ago.
Gold is worth today $20.O67 an
ounce, while platinum, worth $50 an
ounce. is still going up.-New York
American.