The Chitina leader. [volume] (Chitina, Alaska) 1910-1928, 1915-09-28
ORE
WORLDS BIC
PROPERTIES

One now must have a very broad
view to keep well informed on the cop
per world. For many years American
incestors have looked to this country
alone as dominating in the red metal
market because the American produc-
ton was two-thirds of the world out
put and of this we exported about 60
per cent.
We have grown confident in our
position because the big deposit in
Australia requires seven years work
to bring it to producing basis, while
more than seven years wor kin Cen
trail Africa has failed to bring out
Tanganyika as any effective factor in
the metal market. South America
has had record of past performances.
Now South America is likely to
come forward in the copper world with
the latest Chilean development, but
Alaska bids fair to rival Chill as the
new source of copper supply.
We paid $7,500,O00 for Alaska, or
about the same amount that Boston
people and their associates have put
in cash into a single gold mine-Al-
iaska Gold. about 10000 shares with
par cost of $40, now selling at more
than three times this amount
Recently the reports from Alaska
of copper expansion were so large
that we refused to print them until
we had made further investigation.
Henry Krumb reported on the AL
aska copper field and it was upon his
report that s22.oOO.OOO was put into
a railroad in Alaska to open up this
field, as Engineer Pope Yeatman ad-
vised.
All sorts of difficulties stood in the
way of this railroad and within three
years western mining man reported
that the copper field would just about
return the cost of the road.
Engineer Henry Krumb on July 90
wired to the bankers who put the
money into the building of the road
and the development of the Kenne-
colt mine:
"Ore showing is the greatest in the
history of mining and has wonderful
possibilities.
On the 18th of August Krumb again
wired.
Conditions greatly changed in nine
years. Kennecott a world beaten"
These kilograms are believed to be
based on the showing of one of the
company's mining veins on the 500
foot level, where for a width of 81
feet the copper ore assays 40 per
cent.
This of course, means that where
in the Butte mining camp, the Bon
ANA or 20 per cent ore was found
for few feet in the center of a vein
100 to 120 feet wide, Alaska has gone
the Butte camp and the famous Ana
nnndo couoro1 fiynac haitian
Copper matte from the smelter usu-
ally assays from So to IS per cent,
and when the Anaconda, the greatest
silver mine in the world, struck a
heavy black ore of very much the ap-
pearance of anthacite coal, and made
its first shipment of carload to Swan
sea for treatment and report, the re-
ply was, unusually high in copper,
about sc per cent. How do you make
such grade matter" and it took sew
eral days of correspondence to con-
vince the smeltrs of Old Swansea
across the ocean that they were rece-
living ore instead of the product of a
smelter.
Henry Krumb was the field engin-
eer who reported on Utah Copper, the
Nevada Consolidated, and did the
drilling and reporteing on Raj. and the
drilling and reporting on Inspiration,
which latter company will soon come
into the copper world with over a hum
dred million pounds of copper and
may rival the famous Utah Copper
mine with it's 10000, OOO-pound pro-
duction.
i The problem now is. what does
Krumb mean, as conservative min
ing engineer, when he reports Kenne-
colt world beater and it's ore show
ing the greatest in the history of min
ing?
His detailed report and personal
observations are awaited with consid-
cradle interest by the men in New
York who have been identified with
the building of the railroad and the
development of Kennecott Copper.
Rasidos tho ahovo dicnatchoc uhicb