Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1907-01-15
WORTH MORE THAN GOLD
Platinum Will Bring Wealth to the
Person That Discovers 1t


Person That Discovers 1t
Wealth awaits the discoverer of
platinum in paying quantities upon
this continent. Its rapidly increasing
use makes 1t one of the most valuable
metals in the world.
Heretofore its production has been
limited chiefly to Russia and some
South American countries, Russia
furnishing 95 per cent of the worlds
supply, but there are many indica-
tions that quantities of 1t will be mined
in the United States in a few years at
most. Several American firms have
sent out their own prospectors to
search for it. 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.
1t is now worth $50 an ounce. By
Jan. 1 1t will probably be up to $40.
There is a growing fear among the
this country will be cornered and put
UP to even a higher price.
A member OF a gold and silver min
ing house said:
80 far as L know there isn't an
ounce of the metal being mined in
this country and the mines in Russia
are practically inactive. The labor
with many business interests.
Take the jewelry trade. A short
time ago platinum was used extern
sively in connection with 14-carat
gold. Now there isn't a bit of it be-
ing used that way. Its use to the
jewelry trade is confined almost en-
tirely to diamond setting. 1t is used
IN 4,
course, the higher it goes up in price
the costlier such diamonds will be-
come.
Platinm is used in the manufacture
of many articles of commerce and
nothing has been discovered that can
take its place. 1t enters into the man
ufacture 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.
In the manufacture of incandescent
electric light bulbs platinum plays an
important part. The short intake
wires which pass through the glass
and carry the electric current to the
filaments 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 it produces picture which is
regarded as absolutely permanent.
If Russia should prohibit the ex-
portation Of platinum it will make
trouble in the business and scientific
world. And in the trade it is regard
ed as not unlikely that the Russian
government may take some such ac-
ton owing to the disturbed state of
the empire. Miners, it is said, can
not be obtained to get out the ore.
So far as is known platinum exists
in immense quantities in the Ural
mountains, but the Russian govern
ment will not allow any foreigner to
go near the mines or to search for
platinum. According to reports cir
culated among refiners the Russian
minister of commerce is now consider
| ing the advisability Of either placing q
heavy export tax on platinum or pro-
htbiting altogether its expectation ex-
| cept after it has been refined in Rus
STA.
| 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 9,26s
pounds Of platinum, valued at ST.
| 678, 546. This was more than the
worlds annual production Is years
ago.
Gold is worth today s20.o67 ar
ounce while platinum, worth S36 ar
I ounce is still going up