Arizona weekly journal-miner., 1902-10-01
RICHEST COMBINE
 OF COPPER
 INTERESTS James ShirIey's Copper River En- terprise in Alaska is COmmenc- ina to Attract the Atten- lion of Copper Pro-
 duCers and Capi-
 tai Alike. A Consolidation of interests in Buffalo Effected, Backed by Some of the Biggest Capi- taIists of New York
 and Other Cities.

] gamated, Calumet X Hecla and Clark interests, having exclusive use of the Garretson shelter and being able to land copper, according to their their claims, in New York at two cents pound and make money, whereas the cheapest copper so far has cost five times as much.
 For the last year copper investors have been rather apprehensive on ac- count of the Alaskan discoveries. The richest of these is the copper mountain near Valdez. Alaska, and 130 miles inland from the seaport of Valdez, on the Copper river.
 Two prospectors found gulches there in which boulders fallen from the sides were seventy per cent cop per, and after securing their rights to it all, secured capital. The Aliadin- like find was snapped up by four men. Frederick J. Abbott, F. c. Bradshaw. James Shirley and F. Hem, backed by an English syndi- cate of S50,000,000. After examina- tions by United States geologists and their report that more than three billion dollars worth of sixty seventy and eighty per cent ore lay in sight. more than could be mined in twenty years, the Copper River Mining com pany was formed with Bradshaw as its president, and offices at No. ' Wall street, New York.
 The other great factor in the allied interests is the Garretson smelter. the invention of O. s. Garretson of Buffalo, N. Y., who has in a short time leaped to enormous wealth by his holding of copper property.
 The smelter is the one process of its kind possible and was the result of ten years of labor. All that is necessary is to shovel the ore into it and the refuse makes the fuel, which smelts the ore. So cheaply can it be operated, it is acknowledged by all copper experts, that the bi-product, the gold. silver and commercial chemicals. can be sold for enough to pay the cost of the mining and smelting of the ore, so that the cop per can be given away for nothing.
 James Shirley, through whose ef- forts the allying of interests was effected, puts the situation concisely i thus:
 ..NVa .o,ld ,,ino oo,,,,ar for aIn,ost nothing up at Valdez, and the Gar retsons could smelt it for little more than nothing. There is a market | for all the copper that can be pro- duced. It will replace sheet iron, tin and all such metals, will cheapen electricity of all sorts one-half, and so all that remained to be done was i for the GaTTetson smelter to be com bined with our mines, ali of the sub ! let Garretson rights gathered into the fold and the allied interests can dic- tate, and will henceforth do so, the price of copper for the world. We are not going to fight the outside people. The fight is over. They have failed to get in. What is there left to do when We can produce and place on the market pure copper for one-filtb of their price7"
 The method of allying the numer- ous and lily assorted interests, so far as size was concerned. was a simple matter and alters the capitalization of none of the companies, nor wIll it | for the present disturb their organi- cations or operations in the very least. Because the allied interests can sell 50 far below tue outside, ac- cording to their claims, Is no sign they intend to do so, for they do not. They will control the market, reap ing the profit of 400 per cent on their product There can be but two re- suits, so the leaders say, and they are, the outsiders will be forced into a combination on costly terms or seek other fields of industry.
 The method of combination was that Q. $. Garretson, who owns d con trolling interest, or has virtual con trol through his patents, of the sev- eral companies now using his smell ter, entered into a compact with the | Copper River Mining company, the terms of which are unknown. but 1t Is believed that for the exclusive use of his furnace, except as limited by the allied companies, he receives S25, ,000,- 900 of the Alaska interests.
 Mr. Gairetson will conduct all of his operations from Buffalo, so that the control of the copper market will be centerrd here. which is quite fit ting, as the center of.the steel market promises to be in Buffalo m less thaa five years
 The companies included in the community of interests are as follows: Company of Montana .S3O.OO0OOO Garretson Canada Co.,. 100000 Garretson Furnace Co.,. 100000 Suarahipa Mining Co.,. 100000 Copper River Mining Co. 500O0000 Garretson Mexico Co.,. l0O00O00 1 Among the capitalists whose inter ests are on what the new combine people consider the right side, are Judge heed, Attorney General knox's law partner; Charles F. Austin, How ard E. Merrel, Ralph Bagley, partner of Westinghouse when the millions were made: James Shirley, F. C. Helm, the London Rothschilds, James Costello, F. J. Bradish. W. r. N. Abbot and half dozen of Buf- ialo's best and strongest financial men. who have gone in behind Mir GaTTctsOn
 Ihc Alaskan operations have been held under cover a- long as possible, small portions oi fheir doiugs lelk- ing ouj. The Val iez X Eagle City Railroad compaHy is putting S25,- 0GOGlO m the building of the worlds