The platinum deposits of the United States are apparently largely in the hands of small holders, who are citizens of this country. A few of the large dredges in California, which are producing platinum as a by-product, are, in part, owned by British capital.
Apparently the beach deposits in Australia (in New South Wales and Queensland) are worked in a small way by local capital, as are the deposits near Platina and Fifield. The Tasmania deposits are controlled by local capital.
As to Canada, it is understood that a large part of the gravel area of the Tulameen River, near Princeton, British Columbia, is controlled by American capital. A few claims on the upper Tulameen are controlled by Canadian capital. An American company has recently been organized for the purpose of exploiting certain prospective areas in the Barkersville region, in north-central British Columbia, and it is understood that Canadian capital has rather extensive holdings on the Peace River, in northern British Columbia, which are reported to contain considerable quantities of platinum. The nickel deposits of Ontario, which have a considerable prospective value as producers of both platinum and palladium, are operated by the Mond Nickel Co., under British control, and the International Nickel Co., under American control. However, the Canadian government is regulating the operations of both of these companies.
Through Ownership of Reduction Plants.
—It is a peculiar fact that while the larger part of the Russian crude platinum is sold through a French company, nevertheless England has refined the greater part of the output of Russia. The Johnson Matthey Co., of London, is the largest platinum refiner in England. Prior to the war this company is said to have refined about 70 per cent. of the Russian platinum production.
In Germany the chief platinum refiner is W. C. Heraeus, of Hanau. This company is said to be owned chiefly by Dr. Heraeus and the estate of Heinrich Heraeus. The firm of F. Eisennad & Co., at Offenbach, a small platinum refiner, was acquired by Heraeus’ interests just prior to the war. G. Seibert, of Hanau, also refines platinum, the operations being financed by the Seibert Bros., and the Deutsche Gold und Silberscheidenanstalt, of Frankfort. According to Russian figures, about 25 per cent. of the Russian output was refined by Germany and presumably a large part of the work was done by Heraeus. Heraeus interests without doubt predominate the platinum-refining industry of Germany.
The chief platinum refiner of France is Quenessen, de Belmont, Legendre et Cie., which is controlled by the estate of MM. Desmoutis and Lamaire. Other small refineries are the Lyon Allemand, the Credit Lyonnais, Herique Marrett & Bonnin, and Hesse Fils, all of Paris. Apparently the first company is the controlling factor in the French industry.
In the United States the platinum industry is controlled by Baker & Co., American Platinum Works, Irvington Smelting & Refining Works, Hanovia Chemical Co., and Charles Englehard. There are several independent platinum refiners in the United States, though their combined output is less than a quarter of the domestic industry. These are J. Bishop & Co., Malvern, Pennsylvania; Wilson Co., Newark, New Jersey; Belais & Cohn, New York City; Kastenhuber & Lehrfeld, New York City, and Goldsmith Bros., Smelting & Refining Co., New York City and Chicago, which are operated financially by American capital. The Rossler & Hasslacher Chemical Co., of New York City, also refines some platinum.
Prior to the war there was more or less interlocking of the interests of Johnson and Matthey of London, Quenessen of Paris, Heraeus of Hanau, and Baker & Co. of New York. It is generally conceded that prior to the war Heraeus actually controlled the American interests now dominated by Englehard. However, when war was declared these various companies, by interchange of their stock, were separated, so that it now appears that German money is no longer interested in the English, French, or American platinum industry. It is probable, however, that both the English and French companies still hold stock in the American company, though the control of the American interests is now held by Charles Englehard through ownership of the majority of the stock of the companies mentioned above.
It is reported that there were two government-owned platinum refineries in Russia prior to the war, though apparently they handle only a very small quantity of the platinum produced in Russia and no platinum from any foreign countries.