Engineering and Mining Journal - Whether the market is copper, gold, nickel, iron ore, lead/zinc, PGM, diamonds or other commodities, E&MJ takes the lead in projecting trends, following development and reporting on the most efficient operating pr
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E&MJ; 150 YEARS APRIL 2016 • E&MJ; 71 www.e-mj.com IT MEANS: We'll help you understand if your screen is performing at top effciency with a comprehensive Screen Performance Evaluation. We'll provide a screen media solution that's the right ft for your needs with our guarantee that it will be more cost-effective than your existing screen media and provide equal or better effciency. Our entire company will work to support you. From Applications and Sales to Injection Molding to Inventory and Shipping, customers are the top priority. You'll get your order when you need it, with the best lead times in the industry. SO, ISN'T IT TIME YOU SWITCHED TO POLYDECK? Call us at 1-864-579-4594 or visit polydeckscreen.com/mining to fnd the Polydeck Regional Manager in your area. ous severe depressions, history repeated itself in this instance too, and it took a considerably longer time than could have been foreseen, even by the shrewdest business men, before the vitality of the country was restored to its fullest extent." Manufacturing communities were among the hardest hit: "…a great many of the large railroad systems found them- selves after the panic… as for a long time only the most necessary repairs were made, while there was practically a suspension of new orders for a period of about 13 months." Construction activ- ities were also greatly affected, especially in the rural areas, for manufacturing and private purposes. Copper consumption suffered too. It was not until the spring [of 1895] that consumption became considerably larger and quickly absorbed the stocks, which had never been very large during the past two years. Demand was for electric purposes and wire-drawers found them- selves busier with more orders on their books than at any period in the history of copper. Enormous quantities of copper have been used for trolley wires, the extension of trolley roads in the suburbs of larger towns and connecting neighboring cen- ters, and the conversion of horde railroads into electric lines having all at once made extraordinary progress… "A most interesting statement is found in the annual report of the President of the Western Union Telegraph Co. for the year ending June 30, 1895, in which it is stated that during the previous 12 months 15,748 miles of new wire were constructed, of which over 10,000 miles are of copper, 'in accordance with our pol- icy of replacing the defective iron wires on our trunk routes with copper wires.' Similar reports have been received from Europe, and the continued exten- sion of the telephone system all over the world insures for years to come a very large consumption of copper." The demand for copper did not es- cape the attention of the capitalists. In 1895, a large interest in the Anaconda Co. was transferred to foreign holders, who took one-quarter of the capital stock for $30 million at a price of $30/share, the par value being $25/share. "The An- aconda had always been a closely-held property, and the publication of reports by the company itself and by the pur- chasers' experts presented the frst op- portunity ever given to thoroughly real- ize the magnitude of this, the largest copper property in the world." The only mines to compete with it in resources and in present output of copper are the Rio Tinto in Spain, which comes in second, The Polyphase Tesla motor.