The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1907-11-12
Mining Man Returns from
New York in Opt
miStic Mood.
SOON REACH IS OR IS
Agrees With Carnegie View That
Next Ten Years Will See the
COuntry's Greatest Prosperity.

Colonel Nicholas Treweek, the we'll
known mining man, was in New York
from the very start of the financial
difficulties until his return. to this
city a few days ago, and has proba-
bly, made as deep a study of condi-
lions as anyone, is firm in the be,ief
that things are now permanently on
the upgrade; that the demand Tor
copper will be such that the price
will go up to 6 to IS cents and that
the mines will all be running full
blast within very short time, says
the Salt Lake Republican. On ac-
count of the opportunities presented
for investments in cheap stocks he
does not believe, however, that any
great amount of money will De avail
able for new enterprises until there
shall have been time for general
|profit-taking from these investments,
which may be well along toward next
fall.
General conditions in New York in
my opinion are improving said the
colonel yesterday. 81 believe bottom
has been reached There have been
so many causes for the panic that ii
is difficult to select any particular one
as the prime cause. Lack of conf
dence has had great deal to do with
financial conditions. The importa-
ton of gold and the relief afforded
by the secretary of the treasury and
by prominent financiers, and the cur
tailment of enterprises that were I'M
der way will correct matters within
a short time.
1.-THE copper situation is looking
II i
mated that when the trouble began
upwards of 200, 100000 pounds of the
metal were in the hands of producers.
1t is said now that more than 150,-
100000 pounds have within the last
two weeks been disposed Of to Euro
pean purchasers, and as result cop
per has advanced to virtually . cents
pound. Purchases by American
manufacturers have of late been from
hand to mouth. The remedy has al
ready been applied-the cutting Off
of production. | believe that within
few months, as conditions improve,
there will again be great demand
for copper and that the price of the
metal will be advanced to 16 or 8
cents pound. The statistical posi-
ton for copper, according to esti-
mates made 1Or Une WOflu pIouuC-
ton, to pay fair returns for the cap
ital invested, is about is cents a
pound.
Mr.. Carnegie, who arrived in New
York the other day from Europe, said
in an interview that in his opinion
this country would see during the
next ten years an era o. prosperity
greater than it has ever seen. [ be-
lieve that it will be only few months
until all of our mines will again be
in full operation and that there will
be big demand for all mineral prod
ucts. | doubt if much money will 80
into mining-that is, in new enter
prises-for several months to come.
For eastern people who have money
to invest there are great opportunities
now to purchase standard railways,
first class industrials, AID copper
stocks as well, at low prices, with as
surance of making large profits with
in a short time. Naturally they will
take advantage of that situation. BY
next fall, when they shall nave had
time to take profits on these invest
ments, they will again go into new
enterprises, particularly mining.