Arizona republican., 1904-03-19
THE MINING INDUSTRY

miles of tunnels in our property, and have brought it up to a production at the rate of about 6,000.000 pounds per month. There has never been record equal to this in the history of copper mining.
 q think the speed with which we have done our work has worked for lower costs. rather than otherwise. We have endeaVored to make every cent count, but in building upon the magnitude that We have, there has necessarily had to be a heavy eXpend- iture of money and possibly some un- necessary expenditure. We now have q plant practically completed, how ever, which can turn out 9,000,000 pounds of copper per month although do not anticipate that we will have such a production. Six million pounds per month is what we have been work ing for. In a plant the size of ours you always have to make allowances for part of the plant being out of com mission.
 The Greene company had float ing debt of but $1.4O000O, but one half of that was bookkeeping entries. With the 114.OOO shares of new stock issued at $1O we will pay off our float ing debt and leave $700,000 cash in the treasury as additional working capital As our construction work is Eow about closed under the able di- rect;on of pr. Ricketts of the Phelps Dodge staff, we are getting in a posi- tion where we should be able to lay e,000,00O pounds of copper down in New York monthly at cost of eight cents per pound, deducting the precious metal values. I think we will have the best concentrating plant in the world. Professor James Douglas of Phelps, Dodge & Co.,, has just re- turned from the property and ex- presses himself as extremely pleased with t.
 We have been able to reduce the cost of concentrating from $1.5O to eighty-two cents per ton and will get it down to seventy cents per ton. Our cost of treatment, concentrating four into one, is now about $40 per ton.
 MT. Parish, in his report upon the property, which was made as unfavor- able as possible. took no account of ore running less than four per cent cop per- Our results for last month showed that 31 per cent crude ore gives us a very handsome profit even under present conditions with the concentrat- or not working. We should be able to treat two per cent ore at a profit At the present price of copper, two per cent ore has Q value of $5 per ton.
 There has been considerable criti- cism that the Greene is a shallow mine but results do not show that. Taking the croDpings on the Veta Grande, we have a depth of 1160 feet and on the CaDote 1922 feet. Our shaft is started from the bed of the gulch and our workings are down a distance of 500 feet This certainly does not indicate Q shallow mine. The age of the Greene property need give no concern. We should not build a mill to handle 5O,O00 tons of ore per day if we had only pocket mine.
 "Our copper is sold by the United States Metals Selling company. Ou, contract with that company has two years yet 10 run and I must say that the service of the company has been entirely satisfactory. We have always received the highest price for our cop per and whatever the Amalgamated in- terests may seek to do in the stock market ,the copper selling end of their enterprise is we'll managed and on a business basis and we have no com Dlaint to make"