The Idaho Springs siftings-news., 1908-01-11

AtSS imam isSp, WIN hht toeoA was
5G,5l7 800 fine ounces, valued at $685.
256.40 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 l,12S.-
693, syi ounces troy, or. say, 12,02S
tons OF fine silver, valued approx
mately at $l,5oS, ,3S3.3I2.
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 a 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 5512 cents
On December 10th. Few silver mines
can be worked at a profit when the
metal sells below 60 or GO cents per
ounce. When, however, the ore con-
tains besides silver some gold, copper
or lead, there is a 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 $50 0,405, ,42S for 1907. The aver
age return for the year was about 2S
per cent on the outstanding capitaliZa-
ton of SITS, S,7G5,215. Since their organ
izaton these twenty seven copper
mines have declared dividends aggre-
eating the enormous total of $341,-
649,9lS, equivalent to 131 per cent on
the issued share capital, which varies
from 81 900 900 to $50 ,00u, 900.
The total production of copper In
the United States for 1907 was not far
from $50 100000 pounds, valued at
sleI ,91G 200, which is equivalent to
nearly GO 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 1883, when the copper output for
| the world was only 4iG. .GG9, ,i40 pounds
| tabout onehalf the quantity for 1900
| the United States contributed 115.51G,-
| 500 pounds. or 25.S per cent. From
| lS43 to 1907 this country produced the
| large total of 5,i43.SSG long tons of
copper, almost one-half of the world S
| supply.
| Substantial progress has also been
made in the zinc industry, partly due
to the expansion in the brass, sheet
zinc and galvanizlng 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 approxi-
.nateIy at s24 100000 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 5G,S72 tons, valued at
S3,31 JOG, which was equivalent to
about Is 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 $53.5C
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
tthe lowest price in six years., while
zinc ore sold at SIS to $3i per ton at
Joplin
Dividends paid by thirteen zinc com,
panies in 1907 amounted to 81 1,91l ,4O2
equivalent to an average of about IL
per cent on the outstanding capital OF
| $12,i2S 500 Since incorporation these
properties have declared dividends ag
| eregating a total of $12,GG4 ,o07, or 1O2
per Gent
metal closely allied to gold and
silver is lead. The United States
gained first place as a producer of
lead over Spain and Germany in 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 400, 900 tons per annum
which is more than double the ouan.
| tity reported in 1896 The 1907 pro
ductton was valued at not far from
s4oooo,O00, and had not the smaller
consumption in the latter months of
the year resulted in drop in price
IRON six cents a pound (the. record
price for thirty years) to $50 cents on
December 11th last (the lowest for
ten yearsl the earnings of the lead
| industry would have been consider.
! ably larger
The product showing the highest
| total valuation is pig iron A new
!igh record of production in the United
States was established in 1907, when
the quantity was about 2G0o0,000 long
tons, valued at $575,O0O, 900. In 1906
the output was 2,537,19l tons, valued
at s505, 900. In October, 1907, the
highest monthly showing was made at
2,3S2. 800 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 1863.
The total Pre- 'uction OF coal in the
United States in 1907 was not far from
43o,oOo,O0O short tons, valued at $685.
o0oooo. This compares with 414.157.-
21s tons valued at s513,079s9 for 1906.
Ten years ago, in 1898, the production
or coal was 219,976,26S tons. valued at
n