The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1908-01-21

operating very low grade mines, have
maintained their output and continue
~ employ their full force.
In Arizona none of the big mines
Fave been closed, and but few of the
second and third class. In the War
rem district it was considered by the
copper Queen and the Bonanza group
good policy to reduce production, and
therefore the smelling works of these
TWO groups, which during the first
three months of the year sent into
the market 100000 lbs. of copper
bullion, during the last three months
shipped only 26,500,000 lbs. The
Clifton district, working on ore that
does not average over 2A per cent
copper, and contains no gold and sill
vel, and where therefore administra-
tion expenses form a large proportion
OF the cost, have not reduced their
production or abated their activity.
The Old Dominion furnaces have
turned out during the past year APP
DroXimately the same amount of cop
per as in the previous year, and there
is no apprehension of serious fall
ing off during 1908. But forecasts
are doubtful as so many unforeseen
contingencies arise, disturbing the
most cautious calculations.
In the southwest the most regretta-
BILE incident of the recent depression
has been the closing of the Humboldt
slnelter, on which the many small
mines around Prescott had been de-
pending for the treatment of their
ore. 1t is to be hoped that the en-
harrassment of the company will be
soon relieved Custom works have
run very serious risk, and inevitably
do so when the market has been as
unstable as of late. They must pay
small customers cash for their ores,
aid yet cannot realize the copper for
approximately the three months dur
ing which the bullion is being trans
ported to the east and refined electro
lytically. Upon a rising market they
gain and are liable then to reduce
tneir smelling charges with view to
increased business, or put their gains
into enlarged works for increased ca
pacity. When, therefore they come
to lost heavily on falling market, es-
pecially when there is such complete
paralysis of trade as happened during
the past summer, they are liable to
be come seriously embarrassed.
Were it not for the accumulation
Of stocks and the extraordinary in
crease in the cost of mining and
smelling which have resulted from
the so-called good times there need
tie no distress in the trade, for the
present price is higher than that rul-
for
electrolytic copper was 1888 cents.
But during the prevalence of the high
rrice of copper, every item that en-
tered into the cost of the metal, in
creased to such a figure that it may
safely be assumed that the cost OF
mining and smelling copper ore rose
on the average three cents per pound
over that prevailing before the period
@; exaltation. Wages, timber, fuel,
and mining supplies increased in
price. The railroads were unable
promptly to handle such freight as
they accepted, and the excessive local
demand for western fuel, or the con-
vcnient excuse of car shortage, OBJ,
lieed the smelters of the southwest te
import eastern coke at very heavy
cost Had it been transported
promptly and received when a high
price was realized for the copper, Its
receipt would have been acceptable;
hut arriving still at this late date, II
aggravates the embarrassment. New
crtheless. the values of what the COM
nanies have to consume are adjust.
ing themselves to the lower price oil
what they have to sell, and when the
process of REIMBURSEMENT is complet.
cd. which should not occupy a Iona
time, and the trade has recovered Its
balance of mind, so acutely disturbed
nv 26 cent copper, it will be found
that no one has been seriously hurt
leycept those who speculated reckless.
IN in stocks or in worthless mines.