The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1901-05-02
Greene Consolidated Copper 90.

speculative movement that has held in
the stock market. Deals pending
and deals completed in the leading
copper properties have served to at
tract more than ordinary interest to
their value as investments. The opin-
ion is frequently heard, however, that
the shares of the companies that have
been SO prominently dealt in are too
high, or if not too high, shares of other
good producing properties are held at
too low valuation. The latter is
more likely.
Much talk is heard of the Greene
Consolidated Copper Company, which
is offering treasury stock at $40 per
share. If Amalgamated is worth I25,
in the neighborhood of which 1t is now
selling, judges of copper stock values
say that Greene Consolidated is worth
much over the price at which this lot
of treasury stock is offered. The
present net profits OF the company are
more than 100000 per month, and
with the rapid development going on,
the completion of the big Bessemer
refining plant now in process of con-
struction and which will have a cap.
acity of 6,ooo,o 900 pounds of copper
per month, this monthly profit will be
largely increased. 1t is for the pur-
pose OF providing for the payment of
the refining plant that the treasury
stock is offered. There are but o, 900,
or probably less than that number of
shares now remaining.
The Greene Consolidated Copper
Company was organized under the
laws of West Virginia, Sept. IS, 1899,
and the mines are at La Cananea,
Sonora, Mexico. The property con-
ssts of about 5000 acres, on which
are "a mines, II of which are being
developed, and 6 of which are in ac-
tive operation and heavy producers.
There has been more than $2,a5o,
900 expended on the property, for
the management, conhdet in the
knowledge that they have a very val
liable and long lived property, have
not been lax in pushing development
work in all directions and installing
the most improved machidery, to the
ultimate end that they will be enabled
to get the best possible results from
both mining and smelling operations.
There is at present a 4oo-ton daily
capacity smelter IN operation and the
returns for the first eleven days of
April show 1926, 600 pounds of ore
smelted, from which was extracted
6I7,7oo pounds of pure copper of a
value OF $92,655. This yielded net
earnings for that period of $SI,a53,23,
as the cost of smelling was but $2.oo
per ton. This cost, low as it is, will
be largely reduced with the new plant
in operation, besides which the COM
pany can handle considerable custom
work, and there is plenty to be had in
that section.
Much added value is given to the
property by the construction of mar
row gauge railroad which is being built
around among the mines and to the
smelter and is nearly completed. There
is also a standard guage railroad under
way from the smelter to Naco, the
nearest railroad terminus, distance
of ,75 miles, which is bonded for
$4,000 for construction work, and
| it is expected that it will earn largely
IN excess of the interest on the bonds,
as it will provide the most practical
outlet from the rich districts of the
Cananea Mountain to the railroads.
The American Bridge Co. and the
Union Iron Works of San Francisco
are building the new smelters and
smelter extensions and converter
plants, and the Pennsylvania SteeI
Company is supplying the rails for the
road. The locomotives are being con
structed by H. X. Porter & Co., O.
Pittsburg. When these improvements
are all completed the company will be
in excellent physical shape. In fact
the money realized from the sale o
stock is being applied to make tina,
stock Immediately more valuable, since
it enhances the value of property.
The treasurer of the company, Mr.
Philip Berolzheimer, is perhaps thu
best known Of the New Workers whC
are identified with the official man
agement of its affairs, although ther'
are many prominent New York hnan
ciers among the stockholders. Mr.
Berolzheimer is also treasurer Of thu
Eagle Pencil Company. The offices
of the Greene Consolidated Copper
Company are at 377 and $40 Broad
way, and they claim most postivel.
that they are not identified in an
way with any other mining or indus
trial enterprise. Net earnings, a
Z \ l T..