Bisbee daily review., 1907-04-17
WORLDS MINING OUTPUT FOR THE
 PAST YEAR
Dun's Review Presents the Situation in Detail-It Is Seen That America Is Sec ond in Gold Production.

0QTlDR lne past year lue HllEhSI uSu- ally ruled above the highest point of 1905, raising the record about 6 cents higher. to 7l.62c at New York and a small fraction above 33d per ounce in London. Yet it is still true that the recent record of the highest price in ten years would have appeared cheap more than ten years ago. One factor in the years strength of silver bullion was the purchase for the government
 hints, but this business did not attain
 great proportions by any means. and
 ghen the price rose ID almost 72 cents
 Nu tenuers. to the government, it was decided to wait for some reaction When it was possible to secure bullion at less than 70 cents the mint again made moderate purchases. But this demand was insignificant compared with the exports from London to In- dia of about S75,000.000. This is not the only large total for an recent year but it is necessary to go back to the great famine of 1877 to find larger fig ures, and at that time the price was so much higher that the exports did not represent 8 quantity equal to the movement this year.
 The average price per ounce in the London market in 1877 was 54.S1d, against an average of about god in 1906. In addition 10 the requirements for coinage in the United States and India there has been a steady demand from continental Europe and many of the younger nations. while the year of greatest commercial prosperity has naturally provided a large demand for the white metal for use in the arts. Consumption of this kind will proba- bly exceed 60,O00.000 ounces. or slight ly less than the total production of this country. while The total yield of all nations is estimated at 170,000, 900 ounces. The figures will probably be exceeded next year, provided the price is maintained, as it is again profitable to work mines that had been aban- doned because of the low grade ore, and many new mines have been op- ened and should be producing soon. There has recently appeared the un- usual sight of Mexico importing silver, but this has been necessary for coin age purposes to take the place of heavy exports of silver coin when the market price of the metal rose above the coinage value in that nation. It is now proposed in Mexico, the Philip pines and some other countries, to re- duce the standard of fineness in the silver coin in order to prevent the loss that has been suffered on this account. Some reaction from best prices oc- curred before the close of the year, but the markets were still strong and the United States exported in eleven months ending November 90 last, about s4 ,O00,0 more than in the same part of the preceding year.
 In the year 1906, when all the civ ilized world was enjoying the greatest commercial activity in history, it was only natural that gold mines should produce at their maximum. It will be some time before exact statistics are available, but from such preliminary figures and estimates as can be se- cured it is practically certain that a new record of value of about $415, ,000,- 0O0 will be the final result, against $379, ,635, ,413 in 1905, which was the previous high water mark. Monthly figures are available for the output of the Transvaal mines and these show in every instance an increase over the corresponding month in the previous year, while beginning with August the monthly returns rose about 5OO,OOO ounces, far eclipsing all previous rec ords for those mines. One of the ob- vious reasons for increased activity at the gold mines. including resumption of work at points long abandoned, was the sharp advance in prices of the minor metals which are frequently found in conjunction with gold as by products.
 Africa has fully regained it's position as the leading gold field of the world, with the United States second and Australia the only other competitor for pre-eminence in this industry. As to Africa, there is constant develop ment in Egypt, and prospecting con tinues in Madagascar, but the Witwat- ersrand district remains the largest producing section of Africa or any where else and the Transyaal mines during the past year have shown most remarkable expansion. Here the cost of production has been reduced by me chanical devices, Chinese labor and new methods such as piece work. The net result has been a further increase in the dividends to stockholders, few mines making no returns. whereas but two years ago only half of the sixty-two companies paid dividends. Improved railway facilities are also feature in African development, re- mote points being much more accessi- ble than formerly.
 Second position is still held by the United States, which has usually made close comparison with Australia, ev- en in the years when that country had slight advantage. The California output has been increased by new dredging machines that find a profit in deposits hitherto unavailable, and the Alaskan yield continues large thermal difficulties being gradually ov- ercome by electric apparatus, although the question of water supply is con stant source of trouble. Colorado maintains it's position at the head of the head of the list, however. for many years that state making the best show ling for the United States. No other state in the union has made a close comparIsan with Colorado, California or Alaska in recent years
 Australia, the third of the great pro ducers, has encountered many obsta' cles to progress in the exhaustion oi deposits and the increased depth at
 which work is now pursued In the lowlands drainage Is a source of great
 expense. one pumping plant alone in a Victoria mine taking out 5000 gal