Los Angeles herald., 1907-01-07
INTEREST CROWS
IN RED METAL
Quotations Closely Watched-copper
Shares on the Coast and in
the East in Steady
Demand

Inc present DOOM III MINING SlOChS,
it is claimed by many persons, is the
logical result of a period of continued
financial prosperity and the advent of
January profit takings. Men have more
money to invest and more men have
money to invest than usual. Copper
stocks attract the most attention be-
cause that metal is steadily advancing
in price, the quotations now being
higher than they have been in forty
years. Last week copper was quoted
at 231a cents pound. 1t is estimated
that it costs 10 or IL cents a pound to
produce copper The profits now in
copper mining are ten times what they
were four years ago.
New Copper Districts
The new copper districts which have
been discovered at Ely, New, Green
water. Cal, and in Arizona are attract
ing prospectors and investors alike.
Greenwater now has a camp with from
1900 to 2000 population. A bank and
newspaper have been founded. Mill
lions of dollars have already been in
vested in this district by the copper
kings. and a gigantic combination of
copper properties, with a capitalization
of s25, ,OOO, ,0O0 is now under way. Green
water will soon have railroad transpor-
tation and smelter is to be built at
Ash Meadows.
At Ely the railroad is already built
into the copper district, and S10,OOO,-
600 smelter now being erected by the
Guggenheims is nearing completion.
This copper district is much farther
advanced than Greenwater, for the
reason that it had been developed as a
gold and silver district years ago. The
presence of copper was then unsuS-
pected There is no trace of copper on
the surface, but it has been found in
prodigious quantities at depths vary
ing from 100 to 450 feet. In the opinion
of experts the underlying deposit OF
copper at Ely is practically ineXhaust1-
BILE. Besides the Guggenheims' great
nroperty a number of other heavy pro-
ducers have been developed, and the
list of favorable prospects is large
and growing one.
GreenWster on the Map
In the east they still deny Ely and
Greenwater a place upon their maps,
and the eastern papers insist that an
investor in mining stocks is a fool.
The investors of the west know that
mining propositions which are leSitl-
mate are better profit makers than real
estate or money lending. The man
who invests in mining stocks may lose
more often than he wins, but some one
mining investment out OF NUMBER Is
sure to pay. and when profits do come
they wipe out long list of failures.
One of the best mining investments
which can be recommended to an in
vestor is a company which owns more
than one property-preferably proper
ties in separate camps. The one propo-
sition reinforces the other. There is a
reserve line TO fall back upon.
The Greenwater Ely Consolidated
Copper company, which is owned in
Los Angeles and vicinity, has just let
contract for the development of it's
Rockefeller group at Ely by the sink
ing OF a shaft 100 feet deep. The presi-
dent Of the company, S. NJ. Mingus, is
personally experimenting the work.
| The Old Camp group, owned by this
| company at Greenwater. is next to be
| developed. 1t is situated on Willow
creek, about eight miles southwest of
| Greonwater camp. Another property
on Willow creek has just changed
hands for $4,000. The Los Angeles
| stockholders i'm the Greenwater Ely
| Consolidated Copper company believe
they have fully as valuable prospect
as that, ana assert that they could sell
out their holdings today for more than
they paid but they prefer to hold 1t
| and deVelOp IL themselves