The copper era., 1902-09-18
MINES AND MINING.

The closing down OF the Old
Dominion mines and smelters at Globe,
simply emphasizes the statement in
regard TO the copper market, a made
Ia this paper two weeks ago, viz:
1T is now a question OF the survival of
the tittest All companies that cannot
make copper al present prices must
shut down, and many OF them Will not
resume in many years. In this way
the supply OF copper Will be regulated
10 suit the demand.
The last annual statement OF the
Old Dominion showed that it cost the
company i ceuts per pound to make
copper, hence the mines OF that COM
pany must remain closed until the
price OF copper shall have risen to
that price, or the company must, by
the introduction of new machinery, and
the Investment of large sums OF money,
be able to make copper at present
prices. This will require time, and II
i not likely that stock holders will ad-
vance money for improvements on the
present outlook for copper. Many
other companies which have been pro-
ducing copper at from 10 to i cents
per pound will be compelled to tempo
rarily suspend operations, and when
this is done, there is no telling when
they will resume. Most people do not
realize that the difference of but one
cent per pound means about six mil
lions of dollars on the yearly output of
American mines, and of ten millions
for the prod ction of the world. The
effect of IL land y cent copper has
been most marked. While less than a
year has elasped since the break in
copper, large number OF mines have
suspended operations, and while 1t is
true that but few of these were large
producers yet material number
would have become factors OF impor-
lance in the supply of the metal
within another year or two. The
partial or complete Gripping OF sew
eral important mines within the past
few weeks presents another feature in
the copper situation that merits great
err consideration than it has received.
In the Lake region the Isle Royal,
Osceola and Tamarack mines are
working under check with very
material reduction in their output.
In Montana the Anaconda is turning
out more ore than ever before in its
history, but is making less copper.
The Montana Ore Purchasing COM
pany, aside from being hampered by
almost countless injunctions, has re-
Gently had one of its largest concen-
trating mills destroyed by fire and its
production is curtailed to a point far
below its normal capacity. The Par
rot mine, while large producer, is
but barely up to its production figures
OF two years ago. In California fire
has seriously crippled the Mountain
Copper company, while in Arizona
the wOrld-famons United Verde is even
now in flames This fire is much
more serious than is generally under
stood and as it threatens the stability
of its sinelter. which is built over the
mine it peed not prove surprising if
the Verde is soon eliminated
from IS OF active producers
10, MAJ fSnS to come. The clos
ing of hes at Globe will also
have "A tgdency to reduce the copper
supply, and thereby strengthen the
demand. 1t is therefore only reason
able to suppose that copper has reach
ed its lowest price, and will soon COM
mence to advance, for the demand is
steady, and far in excess of last year.
should be an abatement in the invest
ment of capital and development of
copper properties in the Clifton-Mo
renci district, because the fact has
long since been established that cop
per can be produced here cheaper
than in any distict in Arizona, with
possibly the single exception OF the
United Verde mine, which is now on |
fire, and may continue to burn for /
years. While this is generally con- /
sidered as a low grade camp, the ores !
exists in such large bodies, and can be |
handled so cheaply that copper is pro- |
duced for less money than in almost /
any other section OF the United States.
The Clifton mines were kept busy
when copper dropped below nine cents
and with the increased facilities for
handling the ores, and with tho new
and smelling plants.
this camp has nothing to fear at pres
snt prices.
f. NJ. Weaver, who has a group of
most excellent copper claims in the
district, left this week for
the east for the purpose of promoting
4 company to take over and perman-
emily develop his property. Mr..