The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-11-21
PLATINUM INCREASE
MARVELLOUS GROWTH IN
PRODUCTION I'M a YEARS..
Industry Has Developed in Short Time
to Important Proportions-De-
,mand for Metal.

WASHINGTON, d. c., Nov. 21.-New-
ark manufacturer will be Interested in a
report made by the government authorities
on the production and use of platinum In
the United States. Statistics compiled by
DR.. David L. Day, of the Geological Sur
vey, show that the production Of platinum
in the United States In 1904 was 200 ounces.
valued at "a, 100; in 1905, S1S ounces, valued
at $500, and in 1906, 1,439 ounces, valued
at $45, 1S9. a fourfold increase in quantity
and more than eightfold increase 10 value
over the figures for 1905.
The principal feature of interest in the
platinum industry during the year was the
phenomenal rise In prices for ingot plati-
mum, which, beginning with $2O.50 a troy
ounce on January 6. 1906, had on November
II reached $500, remaining at this figure
until the end of the year. after which
there was another slight rise In price.
In February. 1907, for the first time, a
distinction was made between ordinary
platinum and hard platinum, that is plati-
mum rich in iridium and osmium, consider
able iridium being allowed to remain al
Logged in the platinum of the ingots. Such
hard platinum was quoted at SAL per ounce
on February rs.
This price held until April 6, 1907, when
the placing on the market of more than
100 pounds of platinum by a new producer
interested in American developments
checked the advance. On May 4, 1867, ordi-
nary platinum was quoted at $32 and hard
platinum at $35. Then a gradual decline
set in and the present price October, 1900
Is $23 for ordinary and SIS for hard plati-
mum.
DR.. Day quotes an article by s. /. Gulis-
hambarov, Of the Russian ministry of
finance. translated in the Mining Journal
CLondon), summarizing reasons for the re-
markable advance in prices, and a para
graph from that article is reduoted here:
I'm the twenties of the last century,
after the discovery Of platinum in the
Ural Mountains. the worlds output Of the
metal, according to data collected by the
Russian minister of finance, amounted to
forty pools Ga pood equals a trifie over
thirty-six pounds per snnum. The de-
mand for it was, however, SO small that
the government had to take steps to find
a sale for 1t and began buying IT on it:
own account for coinage.
I'm the sixties of the same century thu
development Of the chemical industries II
western Europe. and later the springine
up of electrical engineering and of thu
dental manufacturing business increased
the uses of platinum, but in spite of this
the supply was still in excess of the de-
mand."
All this has since changed. Statistics
show that the United States, France, Greai
Britain, Germany and Russia require an
nually quantities Of the metal much larger
than are produced. The present high price
is the legitimate result of natural condi-
tons of supply and demand.
The manner of the discovery Of plati-
rum in the United States and elsewhere,
the method of lis extraction, its physical
properties. and Its uses were summarized
by F. W. Horton In n paper In the Mineral
Resources of the United States for 1906.
During 1906 a new concentrating appara-
tus to use the black sands was Installed
for the placer interests near Cariboo,
Canada, and 1t Is probable that this plant
will yield a considerable output in 1907.
The discovery of platinum in copper
nickel ores in southwestern Utah and east
ern Nevada has also been reported, and
two companies have begun development
work on l~ow-grade copper-nickel ores in
the northeastern part of Lincoln County,
Nevada.
It Is interesting to note that the imports
for consumption Of platinum during the
calendar year 1906 were valued at So, 7SS, 759,
as against $2,173,623 in 1905, distributed as
follows; manufactured. 1.267 pounds,
valued at 1890, $780,; ingots, bars. sheets and
wire, 1927 pounds. valued at SO, 210,13l
vases, retorts and other apparatus, vessels
and parts thereof for chemical uses, 1886,
39S; manufactures not specially provided
for. s1,24l.