Bisbee daily review., 1907-01-20

Quincy and Tamarack. Other high
 grade coppers have advanced steadily.
 and the disposition to buy and trade
 in stocks of questionable value and
 those representing undeveloped min
 ing prospects has grown almost to the
 danger point.
 The 14-point break in Trinity, a few
 days ago, had a tendency to detract
 attention somewhat from the manipu-
 lated, speculative specialties, and it
 would seem that sooner or later there
 must be an abrupt cessation or ex- haustion of the buying demand in this
 class of stocks. Notwithstanding the
 high price of copper and the splendid future outlook for many of the better
 class Of copper mining securities. 1t
 Is none too early to begin exerting
 a reasonable degree of caution. This
 can. be done by those who believe that the coppers will go much higher
 by confining their operations more ex- clusiyely to stocks of demonstrated value.
 Advances of 100 points in Calumet
 Hecla, 60 points in Wolverine, 50 in Calumet & Arizona, 35 in Osceola, 25 in Quincy. 20 in Allouez, 15 in Mo hawk and 10 each in Shannon and Tennessee have been witnessed lately, and these movements hardly have been duplicated in any of the semi worthless specialties about which so much Is said and written. It is more than reasonable to believe that equally good advances must come in such meritorious stocks as Utah Consoli- dated, Copper Range, Boston Consoi- dated and Anaconda, and I would rec ommend the purchase of these stocks at present in preference to the cheaJ- CT and more speculative issues.
 Utah Consolidated appeals to me as the most attractive investment in the copper share list. -.
 4 combination Of circumstances have prevented this stock from ad- ysncing as it should with other high class copper mining securities. Be cause of smelter smoke damage to az riculture in the Salt Lake Valley, where its reduction plant is located, the company has been In litigation with farmers and ranch owners for three years past. This litigation came to climax about two months ago in decision from the court enjoining the company from roasting or smelting ores which contain more than 10 per cent sulphur. At first 1t appeared that the company would be obliged to close it's smelter down, but an appeal wss made from the decision and stay granted which will enable the con- pany to continue operations for prac- ticaIly one year longer at its present plant. The bill of damages during the coming year will probably amount te considerably less than 1 cent per pound on the amount of copper pre- duced.
 The management has taken up the matter of building an entirely new smelting plant at some point where no damage to vegetation will be pos sible, and as soon as the site is se- lected construction will begin. There Is every reason for the belief that the new plant will be completed and in operation before the present smelter Is forced to suspend.
 While the present reduction plant of the Utah Consolidated company has made some of the lowest cost figures ever recorded in this country, the management is certain that larger and more modern plant, with greater conveniences for handling ore and with many expense items now neces- sary eliminated, would reduce total costs and increase the recovery of copper, gold and silver values suffi- ciently to pay for the plant in three years.
 Among the items of saving may be that of transportating the ore by railroad from Bingham Canyon to the smelter, about 40 cents per ton, and the maintenance of a large local steampower plant at the mine. It is planned that the new snelter shall be connected direct with the mine by aerial tramway, such as that which now conveys its ore from the mine to the ore bins at Bingham Can yon. a distance of two miles. The waste heat from the furnaces will be converted into steam and electricity and used to supply all the power needed at the smeher, and also con yeyed by a transmission line. fastened | to the same towers which sustain the