OCR Text |
Show o NEVADA MINING LETTER. Goldfield, Nov., October 22. By far tho most sensational Jump into prominence prom-inence of any mining camp added to tho map in many years is that of( Greenwater and the surrounding district, dis-trict, In Inyo county, California. Tho motal responsible for this sensation Is coppor. Tho amount of copper ore in surface showings alono is tremendous. tremen-dous. Tho coppor ore yielded by every shaft that is sunk is proving from hour to hour that Greenwater i Is without doubt tho greatest copper mining territory over found in tho1 world. It Is bigger than Butte. It is! bigger than Bisbee. It Is blggor than all tho copper districts of Montana and Arizona put together. It is so in-contestably in-contestably big and valuable that nearly $20,000,000 has been invested in 100 claims during the last six months. And tho men who have thus Invested so vast a sum are many of thom among tho most Important mine owners of this generation. To recite tho simple facts about tho bonanzas suddenly evolved at Greenwater Green-water Is to court either wonder or Incredulity. In-credulity. This district was practi- cally unknown, practically unexplored, unexplor-ed, within so short a time as ten , years ago, It lies far up among the remoter crags or tho Funeral range. It was supposed until recently to bo beyond the reach of an adequate water supply. Tho mere suggestion of a pos-i sible railroad leading to these crests I from which, on tho California side, I there is an almost sheer drop to deso- I late Death valloy, was primarily re- ' cejved with ridicule. It is unknown no longer. It has been explored from end to end. It will havo a railroad and all the water It can use early In the new year. In other words, and without exaggeration, it has Jumped from obscurity to tho biggest mining I potentiality on record, in less than a k ' decade. Coppor mining is expensive. No copper proposition was ever opened ' up by anything except real money. Only a fool would attempt wild-cat-ting operations In this metal, and tho fool would have his trouble for his pains. Tho firms and Individuals who have put their money and reputations into tho future or Greenwater propertiesIndividuals proper-tiesIndividuals and firms like Patsy Clark, August Helnze, Charles M. Schwab, the L. M. Sullivan Trust company, com-pany, Senator Clark, or Montana, and "Borax" Smith are making this Investment In-vestment because they are .absolutely certain ot the Investment's value. To overlook tho importance and tho solid ; foundation or Greenwator's claim upon ; public attention Is pure roily. j The total copper production of tho ; United States for 1905 was about 400,-. 000 tons. Fully hair or this tonnage ' came rrom Butte, where much of the best copper ore mined shows values of 4 per cent, upon which morp than , $100,000,000 has been paid In dlvi- ' r dends. Tho Greenwater district has twice the area of Butte. Its copper ; showings run as high as 33 per cent. The supply of copper during the last year fell far short of the demand , to bo exact, while the Increase In pro- I duction was only C per cent, tho In- creased demand was figured at 34 per cent. It does not need a diagram to I show why tho Greenwater Investors J are confident or stupendous profits, i That they have not gone Into this enterprise en-terprise as a flyer is evidenced by the i fact that they have not put their stock 1 on tho market at penny prices, and by tho further fact that they have tho actual coin in their treasuries for serious se-rious mining. If tho layman does not understand why the demand for copper constantly constant-ly Increases, the demand may very easily be explained. The chief use of puro copper is for electric work. It is used in the construction of dyna-nlos dyna-nlos and motors: great quantities are rolled Into wire for many purposes, including submarine cables, long-dls- I tance telephone and transmission lines ' for light and power service. Tho kitchen pots and pans explain somo of its consumption. Its use as an alloy al-loy Is astonishing. Red brass Is 90 per cent, copper. Tollow brass Is two-thirds two-thirds copper. Of tho finest gold Jewelry nearly 25 per cent, is copper. Every ship propeller contains moro copper than anything else. And copper cop-per makes up one-tenth of the weight of every silver coin minted by tho United Uni-ted States. In 1894 copper sold for only 9 cents a pound. Now it brings 22 cents. Tho v , copper district of Lake Superior yield- ed huge profits from veins and ledges whero tho coppor In tho ore ran as low as 1 per cent. Tho Butte dividends divi-dends were paid in great part from a 4 per cent, tonnage. With tho uses for copper increasing from day to day, with the supply heretofore available lagging farther and farther to tho rearward rear-ward of demand, the reason for tho excitement over tho Greenwater discovery dis-covery and its subsequent developments develop-ments scarcely needs elaborate emphasis. em-phasis. At tho present time it seems to bo -agreed that tho cream of the properties proper-ties at Greenwater is defined by the Coppor Blue claim, on which Patsy ir Clark has mado so phenomenal a strike, and the Anxiety and Coppor Shoo claims, adjoining the Coppor Blue and showing a continuation or its great ledso. And It Is agreed by all the experts oh the ground that i properties are started toward develop- when the Arixlety and Copper Shoes ' ment, an event to take place within I the next ten days, the Kureka Creek ' South Extension, as the corporation being promoted for this purpose by I the L. M. Sullivan Trust company is known, will prove to tho satisfaction i a ot tho last pessimist that Grecnwater Is tho undoubted leader among all the copper districts of five continents. |