Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1907-12-18
DISSATISFIED
WITH N. RIITTE
ARRANGEMENT
Eastern Financial Journal Crit
iciseS Manner In Which 1t
Has Been Handled BY the
Amaigamated.

Boston.-The affairs OF the Mort
Butte Co. are very eviently dlcialeo
by the Amalgamated and United Met
ais Selling Co. interests, and tins
company and the Butte Coalition are
practically the only copper mining
companies outside the Amalgamatsd
fold that have gone to the same ex-
treme in curtailing producing and rs
ducing dividends as has the big vol,
pany.
1t has been asked just what sort OF
a contract the North Butte has vita
the Washoe Copper Co. and SOHO in
timation is heard that the company
viii break this contract and send aus
ores to an outside smelter.
Just what this contract is may be
seen from the following extract from
the annual report of the NORTH aur,y
Co. published in full in the Boston
Financial News April 23s
Shortly after acquiring the origi-
nal Spectator properties, the com
pauy entered into a contract with the
Washoe Copper Co. whereby that com
paay agreed to receive at as smelteT
at Anaconda all the ores mined by
us for a period Of three yeats. max
ing settlement IN cash on Or baiUre
, the 10Th day Of each month for the
net value Of al ores received during
the preceding month. Tie making OF
this contract obviated the immediate
necessity for the construction II a
concentrating and smelling l,.anJ by
the company and enabled II to gG al
once upoa a dividend paying basis.
During the past Aear she company
has made with the Wash0a Copper
&C. new contract for smelling I'd
treating cur ores at Anaconda for a
period or three years commencing
June 1. 1908. The new ,.oniGlct IS
much more favorable to us Than the
old one and secures to us largely m
creased returns from the lsW ores lie.
liyered by US.
Under the new contract settle.
me1ts are based On the average sell.
ing UTice received by the United Met.
ais Selling company for al electro
lytic copper delivered by that cum
pany during the third calendar month
following the receipt Of our Cres 10y
the Washoe Copper company, instead
of on the average monthly quotations
of the Engineering and Mining JOur
nal for tas month following the Te
ceiTt Of the ore, and this provision
likewise applies TO the Did contract
duriag the remainder cS its term.
The new contract arrangement is
vcry satisfactory TO the company and
is considered by your board preferable
to the construction by your company
of a concentrating and smelling plant
within that period"
If the terms of this contract nave
been carried out this year It is a li;ila
difficult to see where the No. Butte
Co has gained over tle former ar.
rangement in spite of the statement
by the directors in the annual report
that the new contract arrangement
is very satisfactory" For instance.
II the North Butte Co. sent ore to the
Washoe Smelter in May it received
its pay according to the new con
tract on the price received by the
United Metals Selling Co. curing the
third calendar month from the receipt
of the ore by the smelteT or on the
basis of prices ruling in August.
in May, 1907. copper averaged 25.21
cents a pound while in August the
price had dropped to 20.92 cents.
Under the circumstances it would
ovOTu 70 nc a or IIIFITVVI's TVT UII0 IVVT %
fPsyyEss.s &s:sssG==a g cement &c figure cut
where it was at from month to --onLn.