The Leavenworth echo. [volume] (Leavenworth, Wash.) 1904-current, 1907-02-01
Richer Than Gold.

the market price of platinum and the
increased production of this metal in
the United States, the recent report on
platinum sent out by the geological
survey is of exceptional interest, This
report shows mat early in March,
1905. the price of ingot platinum adj
vanced from $10.50 an ounce to ST.
an ounce, SURPRISING gold in value.
On April 1, 1905. the price fell to
5000 and remained firm at this quo
tation until Feb. l of this year. when
1t jumped to $25 an ounce, where 1t
remained stationary until Sept. l, when
1t leaped to the unprecedented value
of $34 an ounce. The production Of
platinum In the United States increas-
ed from 200 ounces in 1904 to 31S
ounces in 1905.
The rise in the price of platinum
and its increased production in this
country may be ascribed to two causes
the growing demand for the metal
and the reduced yield of the Russian
platinum placers, which usually fur
nish about 80 per cent of the worlds
supply.
The anxiety felt by the platinum
dealers during the Japanese Russian
war has not abated since the settle
nent of international difficulties, but
has rather increased as Russia's in
ternal dssensions have developed.
Even before the uprlsings, it is said,
the large Russian mines We're pur-
posely curtailing their production.
This reduction of the output is due to
the fact that the entire product for
varying term of years was bought up
under contract and at prices that now
seem ridiculously low. AS the mine
owners receive only the fixed price,
they do not participate in any gain
due to rise in value and are therefore
not DESTROYS of large production, but
are outstanding the limited resources
of their mines until such time as they
can dispose of their product to better
advantage. Meanwhile the small
mines, which. generally speaking, are
not hanpered by such agreements, are
working to their full capacity to take
advantage Of the stimulated prices.
but their entire output Is only small
percentage of what is usually produc-
ed A g-eatly increased consumption
of platinum in the electrical and chem
zeal industries. together with this
stringency of supply, accounts for the
prevailing high prices.
Platinum is known to exist In ten
states of the Union. the richest de-
posits being found In territory west
of the Rocky mountains. Single mug
gets or traces have been folnd In -FOUR
states of the Atlantic coast region
namely, New York, Pennsylvania
North Carolina and Georgia. The most
promising fields are in the counties OF
southern Oregon and northern Califor-
mia. Here the metal has been found
Ill 49, lNOF
er methods considerable annual out
nut should be obtained.
The platinum metals are usually
found in working gold placers, espe-
cially where the grayels are derived
from peridotites. Many managers OF
placer mines have been convinced for
a long time that it would pay to save
the platinum in the gravels If it could
be done by some inexpensive method.
1t should be noted that the imports
Of platinum during 1905 We're valued
at $2,173,263 as against $1,879,15 In
1904, an increase in value of 1894, 1Os.
Considering the increased demand for
platinum, the gain in importation Is
slight, but If the high price and search
ty of the metal be taken into account
the wonder Is that there was not
large decrease In the quantity I'M
ported.