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Newspaper
Phoenix Pioneer
Location
Phoenix, British Columbia, Canada
Date
Feb 01, 1902
Page
3
A stock exchange view on copper shows a price rally with a 1 percent dividend finally cited for Amalgamated, calming talks of a copper slump. The piece notes copper miners claim supply in the United States remains robust and questions linger over Amalgamated’s status and market timing.
Discussion centers on Boundary ore pricing and smelter outputs under ten cent per pound copper, estimating a potential net of about $1,000 per day per 30 tons, with comparisons to Rio Tinto and Anaconda costs. It argues improved machinery lowers costs for B C mine owners, questions stock values, and critiques trust-driven market manipulation by large interests.
The text argues that considering certain by products makes them a good investment and criticizes the Dominion's fiscal policy for pushing production into the U S market. It says the policy is antago nistic to home resources and impedes progress when movement under reciprocal conditions would boost development.
A merchant who shuns ads is likened to a farmer who starved his cows then blamed milk quality. The Pioneer prompts readers to consider this contrast as district news is reviewed.
The Dominion Post Office reports 287 new post offices opened in the year and 63,375,000 more letters carried than the prior year. Postal notes issued rose to 877,399 with total value 1,459,015 dollars. Savings deposits reached 39,956,812 dollars. Revenue rose by 238,924 dollars, yet the year closed with a deficit of 416,183 dollars. A US Canada money order exchange agreement expanded payable offices by about 30,000 across the United States.
Republic Mines races to start shipments at once as Curlew bridge nears completion. Grand Forks the railway hub with 66 cars, 156 tons of rails en route, and two 107 ton Cook engines on order. Major ore names include Paris, Alabama, California Valley, Mountain Lion, Tom Thumb, Quill, Ben Hur, Lone Pine Surprise, Morning Glory, San Oil, North San Poil, and Trade Dollar. Ore to Grand Forks for treatment with daily haul expected at 25 to 30 carloads.
The Western Mining World predicts strong copper output this year. It argues copper feed prices are at a low point temporarily and may rise above fifteen cents soon as market forces push demand, warning shortsighted interests harmed profits and stockholders educate management to adjust.
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