The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-07-09

days are paying interest on a valuation
Of S133 0OO,00O
Bisbee. close to the southern boundary
of Arizona, has been a well known copper
camp for fifteen years, but never before
was so prosperous or grew so fast The
total daily output of the Bisbee mines
average two and a half carloads Of ingots
of black copper; besides, there are daily
shipments of copper to Mexico for smell
ing fuX. Phelps, Dodge & Co, the Wall
street bankers in New York, own the
greater part of the Copper queen at Bis
bee, and several San Francisco and Oak
land men own blocks of stock in the same
mine. The property paid dividends amount
ing to SS5S,2O0, besides reserving over $780,
600 for the finest blast furnaces and roast
ers for smelling purposes known in the
world. In 1884 the Copper queen sold for
1925, 900. To-day its stock sells on a valua-
ton of $4,000 for the mines and smelt-
ers
The Clifton copper mines were sod in
1866 for $780, and again in 1871 for 5000.
Now the Arizona Copper Company owns
these rich punches of carbonate, red oxide
and native copper and a little of its stock
sold in San Francisco a few weeks ago on
a valuation Of the whole properly at So
800 OC0. The stockholders in the Arizona
Copper Company are largely Los Angeles
and San Francisco people. The company
employs 600 men, and distributes about
$4,000 month in the camp Six years ago
the company got out 100000 pounds Of
copper annually. Now it produces copper
at the rate of 5000 900 pounds year.
Ninety miles east of Phoenix and 10
miles northwest across the Apache Indian
reservation, in the heart of Arizona, is
Globe, probably the best known old-time
copper mining camp in the Southwest.
Copper ore has been taken from the east
ern slope of the Pinal mountains at Globe
aA Cd ND
made and spent money as she. is doing
nowadays The value of the property Of
the United Globe Company is roughly es-
tmated at Sc. 900, 900. Three years ago it
was estimated al half that sum- The com
pany paid dividends amounting to several
hundred thousand dollars in 1898, and also
reserved large sum for extensive i'm
provements in its mining machinery and
shelters. The company reported that it
produced $1,000 600 pounds of ingot copper
during last year
The present era of electricity and me-
chanical development, the thousands Of
miles of electric railroads, the enormous
electric iong-distance power plants, the
use of copper in the new naval craft, have
created the unprecedented demand for cop
per. On top of this came the American
Spanish war, rumors of other wars and
large purchases of copper by China and
Japan. shortage in the metal was
round ana IorthWlth the price for copper
has crept up slowly. 1t has been at 10
and 1912 cents per pound for several weeks.
There is an army of copper spectators
who look for a slump in prices any day
and there are just as many and as saga
ciOus spectators who believe these Won
derful prices in copper will obtain for a
year or two yet. Despite the fact that sub
stitutes for copper are being used in some
lines, and Notwithstanding the vastly in
creased production stimulated by high
prices, the visible supply of disable cop
per is decreasing