The copper era. (Clifton, Graham County, Ariz.) 1899-1911, 1906-05-17
WALKERS WEEKLY LETTER.
Sight" Copper Out Of Sight Notes on
Old Dominion and Greene.


tendency to harden.
Lake is generally held at 184 to 185
cents; electrolytic is 183 to 1S9 cents,
and casting 1S4 to 49, cents pound.
A large Lake company is reported
to have made sales at 10 cents
week ago, and it is understood
that it is holding it's copper at 10
cents.
Several large producers have sold
their production well up to August L.
One of the largest producing
interests has recently been reported
up to September l. A representa-
tive of the company denied this
statement, saying that they had
made only few sales for delivery
in August.
Several Lake producing interests
who sell their own copper stated that
they are sold up to July l.
The representative of prominent
selling interest say: "We could not
deliver a pound of electrolytic for
ND VI anu VIC Wei oOlO
up through July. We are asking
1S4 cents for July delivery. Almost
any price could be had for electro
lytic for May or June delivery, but
there is very little to be had.
Domestic inquiry is increasing
every day, and this, with the strong
foreign demand, has placed the
metal market in the strongest posi-
ton ever known to the trade.
"If spectators were in the mar
ket, prices could be forced to almost
any limit. Producers, however, are
now selling their copper to con-
sumers only, and have thus elimi-
mated speculation from the market.
The present high level of prices is
the natural result of demand being
larger than the supply.
''With the present volume of
consumption, there seems to be very
little chance for a recession in prices
remainder of the year. An advance
in prices is more to be expected"
Old Dominion has the water in its
mine under control, but it is not yet
low enough to permit of a re-
sumption of the former scale of
production. It's mines are still pro-
ducing a great deal of ore, how
ever and this, with the amount of
custom ore received, is enabling the
company to produce between $500, 900
and 100000 pounds of copper
monthly.
The source of water in the mine is
not definitely known, but it is be-
lieved that it comes from Pinal
creek, which flows across the outcrop
of the vein directly above the new
west workings of the mine. The
management was led to extend its
drifts further in this direction than
they had ever previously been driven
by an increasingly rich and extern
sive ore body, which has now been
opened quite extensively. 1t is stat
ed that the breast of the workings
on the 10th level shows a face of ore
~ feet wide and % feet high which
will average from Is to 20 per cent.
1t is by far the richest extensive ore
body opened in the mine in recent
years, and it is now quite probable
that it will prove the most valuable
one encountered since operations in
the Globe district began.
If the further extension of devel-
opment work makes it certain that
the heavy flow OF water comes from
the creek, arrangements will be made
to carry the stream past in fume:
or the bed of the creek will be scraped
clean and all cracks and assures in
The company owns a large area on
the west side of the stream, and the
richness of these recent develop.
ments in that direction will lead to a
more extensive exploitation of that
district. If the new ore body re-
ferred to holds its values for a few
hundred feet in length and depth
it will make the old Dominion one OF
the greatest profit earners in
Arizona.
Greene Consolidated sold down to d
ridiculously low price. At S27 pei
share the stack yields per cent. as
an investment, and there is no posi-
bility that it will ever pay any less
Notwithstanding the present insult.
able equipment and high operating
costs, the company is earning at least
$3.50 per share annually, or 81 100000
in excess of dividend requirements.
AS an illustration of the opportunity
for savings, the fact may be cited
that the Greene's average mining
cost, including development work, is
at present 1915 per ton of ore. By
the caving system, now being intro
duced, the use of steam shoyels and
other up-to- date methods of mining,
its ore can unquestionably be taken
out and delivered at the reduction
works at a cost of not over 81 per ton.
AS the ore yields an averge of 6S to
10 pounds of copper to the ton, there
will be a saving in this one item of
fully q cents on every pound of cop
per produced, or 100000 on its