Gilpin observer., 1908-01-09

256,400 This country. by the way,
contributed nearly one-third of the
worlds supply. Since the beginning
up to the end of 1907 the United States
has produced the large total OF 1,728,-
693,S94 ounces troy, or, say, 72,O28
tons of fine silver, valued approx
mately at $1,5OS, S,3S3,372.
The smaller supply of silver In the
last year is explained partly by the
curtailment in the production OF cop
per and lead, ores in which silver Is
recovered in large quantity as by
product in refining. Another reason
for the reduced output of silver Is the
heavy falling off in demand, especially
from India-the largest customer in
the world-and the recession OF mar
ket prices from seventy cents per fine
ounce on January z, 1907. to 55h cents
On December 10th. Few silver mines
can be worked at profit when the
metal sells below 60 or 65 cents per
ounce. When, however, the ore con-
tains besides silver some gold, copper
or lead, there is chance to make
money at current low prices for silver.
Undoubtedly the most profitable
branch of the metal mining industry
is copper, judging by the fact that
twenty-seven Of these properties have
paid dividends amounting to the large
total of S50,405,4 for 1907. The aver
age return for the year was about 2S
per cent on the outstanding capitaliza-
tion of $17S,765,275. Since their organ
ization these twenty seven copper
mines have declared dividends aggre-
eating the enormous total of $341,-
Gas, ,91S, equivalent to 131 per cent on
the issued share capital, which varies
from $1,0OO,0O0 to $30000,00O.
The total production of copper in
the United States for 1907 was not far
from S9O,OOO,OOO pounds, valued at
| S1Sl, $4,000, which is equivalent to
| nearly 60 per cent of the worlds sup
ply. Thus again this country takes
the lead in copper output. The total
for 1907 exceeded the worlds produc-
ton in 1896. Twenty-Five years ago,
in 1888. when the copper output for
the world was only 4fG,669, ,44O pounds
(about one-half the quantity for 1900
the United States contributed 1856
500 pounds, or 25.S per cent. From
1S45 to 1907 this country produced the
large total of 5,443,SS6 long tons Of
copper, almost one-half of the worlds
| supply.
| Substantial progress has also been
made in the zinc industry, partly due
to the expansion in the brass, sheet
zinc and galvanizing trades in recent
years. The American production of
virgin spelter, chiefly from zinc ore
mined In the Joplin district and
smelted largely in the gas furnaces
of Kansas and Illinois, amounting to
nearly 100000 tons. valued approx
nately at $24000,0OO. More than one
quarter of the worlds supply of spelter
is produced in the United States.
Twenty-Five years ago this country's
output was only 36.S72 tons, valued at
s3,311, JOG, which was equivalent to
about 13 per cent of the worlds total.
Spelter sold in February, 1907, at as
high as $3.50 per 100 pounds at New
York (the highest price in eight years)
while zinc ore brought SAT to $3.50
per ton in the Joplin district. From
August to the close of the year bust
ness was greatly depressed, and in
early December spelter dropped to
$3.50 per 100 pounds at New York
(the lowest price in six years., while
zinc ore sold at SIS to s34 per ton at
Joplin.
Dividends paid by thirteen zinc com
panies in 1907 amounted to S1,911,4 ,402,
equivalent to an average of about Is
per cent on the outstanding capital of
S12 2.42S,9 900. Since incorporation these
properties have declared dividends ag
gregating a total of 2,664 ,007, or 1O2
per cent.
A Metal closely allied to gold and
silver is lead. The United States
gained first place as a producer of
lead over Spain and Germany4n 1896
and today contributes about one-third
of the worlds supply. During the
early months of 1907 the output of
lead in the United States was at the
rate OF nearly 100000 tons per annum,
which Is more than double the guam
tity reported in 1896. The 1907 pro-
duction was valued at not far from
$4O,000,000, and had not the smaller
consumption in the latter months of
the year resulted in a drop in price
from six cents pound (the record
price for thirty years) to $50 cents on
December 11th last (the lowest for
ten years) the earnings of the lead
industry would have been consider
ably larger
The product showing the highest
total valuation is pig iron. A new
tigh record of production in the United
states was established in 1907, when
the quantity was about 100000 900 long
tons, valued at $575.0O0 900. In 1906
the output was 2537.191 tons, valued
at S5O5,7O0,000. In October, 1907, the
highest monthly showing was made at
2,3S2,5OO tons-a quantity which ex-
ceeds the annual output reported be-
tween 1874 and 1878. and. in fact, is
larger than the total for any three
years prior to 1868.
The total pre- 'uction OF coal in the
United States in 1907 was not far from
100000 900 short tons. valued at $685..
100000. This compares with 414.157..
27S tons valued at $513,079.S9 for 1906.
Ten years ago, in 1898, the production
OF coal was 219,976.26s tons, valued at
$2S,O23,240, showing an increase in
1907 OF 105 per cent. in quantity and