Show 4 MINES INES AND MINING NE WS I I. I UPWARD SWEEP OF MINE INE COSTS t IARE BIG FACTOR Officer of Ray Copper Co 1 Gives History of Redi Red i Metal Prices I I I Some Som Interesting general Information I Ion on the copper copper- situation Is contained In Inthe I Ithe the thc following quotations on taken from from fromI I Ute the l rt report fOrt of ot the president president dent dent of or na Ray flay Consolidated It Is believed that marked the beginning of or the tho end of ot a L five the year ocl cycle In copper production which which should hould be concluded with 1919 Tho The first swing of this cycle ccle through 1915 I and 1916 1916 was characterized b by a sharp arp movement In copper without a 11 full tull corresponding advance anco In the c costs of ot production with with- the result that operating o profits were lar largo e. e Tho The f years rears ears 1917 HIli and ln 1915 how however vcr wit wit- I the tho i- i rapid upward sweep of or cost factors actors rs against maximum and finally declining copper ropper prices with consequent consequent consequent conse conse- quent sharp reductions In operating 1 profits Demand Dt Abruptly C ft I I I With the tho signing of ot the armistice k damand nd for fOT copper abruptly c ceased and t U tp avoid creation of or an excessively I large arO surplus of nr tn unsold old copper 4 1 lions and operations were bl beginning nin January 1 I. I 1 1 reduced approximately fifty p per par r cent ceoL At the same time the tho price of or the metal dropped sharply and and it ha hL only been during two month before the date of or this rc- rc port JOrt that thero there hiss haq commenced a. a sub substantial tanU lowering lowering- o of cost factors Even cn at the present writing thesel these l bavo avo vo not been reduced to a a. point where profitable operations can n be conducted i i It Is Js fair to state slate however that furi fur- fur Is Js expected towards s such uch uchI i ther progress l. l the the- meantime meantime mean mean- I cost redaction reduction and that In moderate Improvement im improvement Im- Im time there thero has i been a provement In the domestic demand for lor or copper for tor peace uses JU e Stock Stocks broad Abroad There aro very large stocks In InI I G Great at Britain Britain Prance France and Italy Ita which must be bo dispo disposed of ot in tho the regular I cour course e of or Industry before beCore consumers in 1 those countries will Ill again bo be in the market for American copper The so called central empires empire however how hov- I ever and adjoining neutral countries are re absolutely bare of or copper and with the conclusion o of peace and lifting o of trade trao embargoes there will probably he hc a heavy demand for the metal from those countries x Under the tho provisions of or the so so-callee Webb law practically pr all large copper producers producer including this company compan Joined in th the formation o of thc tle Copper coppe association Inc and foreign telling selling will w be d done dono no t through ro h this a agen- agen en cy cv 1 It Is belleT believed d. d that this centralized elling will ill go o far Car to eliminate manipulation of or metal abroad and tend to largely lurrel stabilize it its price Average n Irlee Above boT JJ IDe k c While price at lot which the years year's production production production pro pro- as carried upon the books was wa H cents a pound toun und average price o of company's compans settlements for or dell deliveries erles Wa was 2 21 1 cents a pound This difference difference differ differ- ence Is due to the thc fact that at the close of or the year car a a. ver very large larg amount of or unsold un- un sold c copper was carried on tho the books at the customary Inventory In price of or i 1 cents a a. pound Average Ie price real realized cd upon our copI copper cop cop- copper I per p r deliveries from Inception of ot operations operations opera opera- to end of or 1917 1911 wa was cents a 8 pound Total disbursements from in inception inception Inception in- in of or operations to and including those for tor ISIS 1918 amount to i SILVER ANOTHER MAN GIVES VIEW 3 i President of Associated Anzona Arizone Ari Ari- zona zone Mining Men len on Situation i i I From From Phoenix Ari AriL Arii comes comes the fol- fol flowing r report port Silver is again king king- kingin in Arizona says C. C P. P president of or the Association Association Asso Asso- of Arizona Mining Men en With the copper market stagnant as a result re re- re suit sult of ot the ceJ cessation of oC war requirements require require- ments meats the demands for tor white metal ar aro pouring all corners of or the tho globe Many of tho the producers are replacing roI rc- rc placing their handling copper-handling equipment equip equip- I ment with plants to turn out silver i I There is a big bl- demand for silver Ini In i China and nod India says George D. D j J of ot Globe The United States State I government is filling tilling it at 1 I 1 an ounce I I the same price at a which It Is a supplyIng supply- supply l ing InS ounces ounce of ot the metal to toI I the British government on contract Years Yearl ago when Tombstone vr was as at u the height of or Its Us fame tame Arizona w wa was at a I t I great silver producer Then Ihen came the slump lump Copper was discovered Last I F year according to the estimate of or the tho United States geological t urvey cy Arizona Ariz Ariz- ona ens produced worth ot of cop cop- per Give us copper was th the cr cry from the United States and the allies With the armistice conditions changed o overnight ht One billion pounds of copper more than a third of ot which was Arizona production arc are estimated to be awaiting sale aIe but copper la lit I down clown I and antI sliver silver Is up I SuT e Surveys s 's of or the tho state indicate that In the tho Prescott and Tucson mines e sliver silver predominates over O the tho oth other J. J metals in HI bee Jerome Globe and AJo its ItIS value as a run heavily rom Irom the neighborhood of ot Prescott come conic reports of or the revival te of or old silver sll- sll ver vel mines Ba Battle t lie Flat Plat scene of or a Sanguinary san san- Indian fight In the 8 seventies la Ii reported to have yielded d new discoveries die dis o orleN of or slIver silver and anft two fresh camps have ha be been n opened on this of ot I spur pur the nort northern ern slope c of or the IVIAH UTAH OIL SHALE IS RICHER I I THAN SHALE E FROM SCOTLAND relative e to I IUlah Som Somo Interesting facts Utah Ulah oil and the attempts made madal madalIn in Salt Lake to successfully ce retort them are aoe brou brought ht out In nn an article b by Otto In tho the March number number num num- ber her of or tho the H Red fled d Hook Book The Tho following extracts are aro taken ut t random from the article AIn A Q QIn In tho plant erected by hy the w writer at the University of oC Utah over o I char charges es ha c have been bee successfully treated so o far Oil Oh i finales hals have ha been treated there from Crom h Colora Colorado o. o Nevada Montana and Wyoming The Tho experience gained here t teaches that temperature and time o of distillation must be bo adapted adapt adapt- ed to the characteristics of or the tho particular particular ular oil 01 shale under treatment The product from rom the various ales sent sont to the plant for or treatment varied from two gallops alofs to 10 gallons alons of or crude oil 01 per ton Ion The time required for or complete distillation I. I I c. c tho the time re required roI required ro- ro I for Cor the production o of practically all the tho oil 01 that could bo be e extracted leaving not over o halt half gallon alon per ton In the spent shale varied varie 1 from four Cour to thirty-six thirty hours hours a n majority from six Mx to twelve hours The time required for tho Scotch in tho the plants near near I Edinborough h varies from sixteen to twenty hors hor In the tc great reat majority of cas only traces o of distillate could be found In the tho spent shale tern rn Oil 01 Shale haIc In Ih comparison comp ison with wih Scotch oil oi shale deposits those In Utah Nevada e ada and Colorado which have havo o la como come under the writers writer's wrier's observation appear to have havethe havethe havethe the advantage rhe They arc are not only of or greater extent thickness and In bituminous matter mater but their geological geo eo- eo logical logIcal and topographical occurrence permits their exploitation on a a more economical scale Tho ho physical character of oC the w western west west- stern st- st ern em oil 01 shale Is II entirely different from that that of oC the Scotch Whereas In inthe tho the Scotch the silica sica contents arc cr very ery low I If present at all 1 and the contents correspondingly bi high h in the we western ern silica predominates predominates predominates pre pre- dominates and the contents corre low to judge jude from Crom the re results of or te tests ts made on a considerable con COD variety of or western oil 01 shale A typical example of or a western oil 01 shale ma may be mentioned here It I was taken from rom a large arge deposit in tho the Immediate Immediate Im mi- mediate vicinity of or Elko Ke and ande gave ga e the n 1010 following results on analysis Volatile matter mater Silica so 0 97 J 1 u m I n 7 40 Ferric Oxide 5 50 GO Lime 0 Magnesium Oxide Nitrogen 0 98 This shale shalo produces about fifty gallons gal gal- Ions lons of dt f cru crude e oil oi per ton furnishing cr al 1 on refining the latter later In the tho Wells els still stil the following products ready for Cor forthe forthe the market I Twenty three per cent gasoline e 1 I r n l n f P Jv six Forty per cent automobile lu lubricating lu- lu u- u oil 01 2 22 30 at 70 0 degrees Six SIx per cent wax slack wax wax 1305 M. M 1 f P. P Ten per cent residue IO- IO 10 M. M P. P In II addition from fifteen to twenty pounds of or sulphate of ammonium are ara ar produced from irom this shale per ton and about 00 cubic feet o of gas as having inS the foll composition Carbon Dioxide Oxygen 1 40 Carbon Monoxide Methane 40 31 1 B Hydrogen drogen 1630 This gas as has hs a n c calorific value aln of or Oi 07 I n. n T. T 1 1 U per cubic feet luct or 15 13 n. T. T U. U I per r ton of or oil 01 shale haJe Additional f ery lery volatile oil oi mn may be beI extracted torn tho the ga gas produced from irom I this shale b by leading It it I. I for fOl instance I through h called so-called 50 coke towers It Is absorbed b by meeting In its Hl ascent ascentI I a a. d descending stream o of hea heavy oil oU Other more modern methods exist whereby the same samo object Is accomplished I pl hed but o of course this tal takes c place at th the expense pense o of tho the calorific value of or th gas Sas Whilo the shale beds bels in Scotland arc nrc comparatively comp thin irregular and frequently Ire Ire- fre Quent disturbed by faults fauls showing a dip of or from 40 o degrees to CO GO degrees and more tho the western deposits as faras far faras ar aras as the writers writer's Is I's observation warrants this statement are aro thick er very ery regular regu regu- Jar lar lar undisturbed by faults Cauls and almost hor horizontal a dip o of from 2 I I dC degrees T es Grand Valley aliey alt Colo to 1 12 degrees C Again while the mining operations In Scotland require more expensive lve mining through h deep sha shafts the western west west- ern ern erti shale deposits can be bo more economically eco eco- mined mined by tunnels an and not Infrequently in infrequently in- in frequently nt b by I comparatively Inexpensive sive ive I c surface operations scotch cotch Oil ill Oi Mini The oil 01 shale Indu industry has lias reached in Scotland but has Its largest growth ro also alo been developed to some some extent In France Germany German and Australia OU Oil OI shale are arc found round wide widely 1 distributed in inthe inthe the United States o of America e especially espe I I daily In iii Utah Uth Colorado Colordo Nevada c California California Cal Cal- I and Wyoming I Over Ocr tons o of oil oi shale are produced and treat treated ll in Scotland now annually from which about tons Ions of or crude oil oi and 57 SiolO 0 tons ton of or ammonIum am- am sulphate are arc produced From Prom the crude oil 01 about tons o of Il Illuminating 1 oil oi tons of or motor I ois oils tons of gas oils tonj toni I of oC lubricating oils ois and 2 tons o of I I arc are produced In addition I about sixty cubic meters metes about bout 2121 2124 J I cubic feet o of gas Sas are re rc produced per pet I ton of df r oil 01 shale 2240 2210 pounds I An analysis of or a representative sample sam sani- pIe of or rotch i-rotch oil 01 shale showed the following following fol Col- fol- fol in 10 lowing results Pet Pct Water t r a at t to de degrees 1 F V. V 67 Volatile Wa Matter Iatter 2431 4 n Fixed Chibon 1250 Ash 60 i 0 Those Thrle produce from fifteen to thirty thirty gallons o of crude oil al per ton tonof tono yielding the following refined re refined re- re shale o of or fined products Pet Pct Naphtha 10 10 Burning Oil t 3 15 Y L 01 r in to WORLDS WORLD'S WORDS WORD'S TWO TO BIGGEST BIG GEST COPPER PRODUCERS ANACONDA ANACONDA- A AN PHELPS Below Is a comparative report of or the pounds In n one month of o 1916 product production n by bY months month of or the two biggest big hi- to as 5 low as a near pounds In Ingest gest producers of or copper In the world today today The Anaconda is 15 one the recent months 1 Yet let et the thc Phelps Dodge Phell Dodge Phelps the other Compared has exceeded Utah's record month but with wih them them Utah Copper has been averaging aver aver- er a twice an and that last year ear aging aginS' In recent years ears from a I. I high of or I Tho The Anacondas Anaconda's production b by months since Ince 1916 were as follows 1919 1918 1917 1916 January January February OO March Marh 1 April Apri 29 May f ay S. S tOO 0 0 0 2 S. S tOO 0 0 0 0 Juno June July July August i September October er November De December ember Production curtailed in first of wo week ek January Januar The Phelps Dodge output b by mon months since 1916 1911 follows 1319 1919 lOIS S. S 1 1917 i G. G January Januar HI l February 1 l I 1 March tarch OSH l 0 S April Apri 11 May a June U July Jul 2 I U August r.r. r September 1 October I November Xo 9 December r. r v 0 8 61 I I SAYS SILVER WOULD GO TO OUNCE IF LET AONE ALONE I I Prom New e York comes another call cal for Cor silver Tho The clarion silver ring ever everI 1 I awakes In the breast of or the w west st a r re- re I e chord At once It sets iet t up and takes notice Sometimes Inv Investigation proves pro disappointing Yet Vet there I that first pricking up tip of ears ear at the well wel known metallic ring which always brings brines respectful attention Here Her Is I a statement jU just t put cut ut Under un under un- un der the head of oC Business BUles Conditions Condition b by Coleman z Reitze New York In their review for th the the week ending A April 3 5 Th statement nt of Congressman Goo Good that annual expenses of or the tho federal go jo eminent will wi exceed yearly yearl after the fiscal year ending June 50 30 0 1920 and for or this thi period lh they will wil exceed emphasizes emphasize the fact tact have we ic-c persistently pointed painted out that Ulese new ne world war orld r expenditures 11 ex- ex 1 are th the chief factors that I influence Inflation This influence probably could I only be ed removed I I Vi 1 15 Wax Vax ax Ibs lis per ton In addition d iLlon the produce from irom of or twelve to sixty poun pounds s of or sulphate ammonium per ton and about 2000 cubic feet of oC gas as of approximately c the I I following composition I Carbon Dioxide 25 23 i Carbon Monoxide 4 41 Hydrogen 1 15 Methane 22 1 Ox Oxygen en 1 1 Nitrogen cn 3 37 value alue of This gas as has a calorific about abouL 10 B |