Bisbee daily review., 1907-12-13
(Fitz-James Mccarthy :


krizona's actual output OF finished
copper for 1906, as disclosed by the
United States government statistics
and the record of the Engineering and
bsining Journal was, in round numbers,
253 100000 pounds.
The sworn returns to the territorial
auditors Office for taxation purposes
was 255,0l2, 155 pounds. The differ
ence is about 100000, but there is no
real discrepancy. The smaller PFoduc-
ers are not taxed.
The average price Of electrOlytic
copper in New YORK for the year was
1925 cents a pound.
The average price of silver for the
year was .e6791 cents an ounce.
The value of an ounce Of gold is
s20.67. These figures are stated here
for the convenience of anyone who
may be disposed 10 traverse my cal
cu9aticns.
have on several occasions ventured
tfie public assertion that Arizona's to-
tai output of copper is produced at a
lower cost than any other copper re-
gion in the world Is able TO produce an
equal quality.
have publicly ascribed Arizona's
rapid advance toward leadership Of
the world in copper production TO that
fact-the low cost Of producing.
have ventured to express publicly
IN the numerous papers with which
haxa -cnnnactinn as cnrrasnnndent-
the opinion that. after deducting the
value of the gold and silver occurring
as a by-product, the net cost Of the
whole volume of Arizona's finished coz
per as sold in the American copper
market, the city Of New York, averages
close to Z IL cents a pound.
So important a statement should
not be left to rest on the confidence
Of the public in any mans mere opin-
ION without plain and candid pTesen-
fation of ali the facts on which ais
opinion is based.
IF my statement is correct It Is i'm
portant to every interest in Arizona
without exception that the fact should
he known to all investors in copper
stocks throughout the world, for it
Justly entities Arizona copper stocks
To the highest place in the confidence
of the investing public--quite as a
rpatter Of course, for the lower the cosI
Of producing the greater the net earn
fngs and dividends on any scale oil
enough to see through ladder car
znderstaHd that
Z have not published such state
ments without careful calculations, for
of course, am perfectly aware that {
err seriously in the matter would dam
age me as a writer on the economic
aspects Of copper production But, al
I said, II 1t is fact, and not mere
vague conjecture, 1t ought to be as
serted and made known, for the gen
ersl good il VIII do all the interests
Of Arizona.
IRE azzge and well established mine:
IN possession Of ample operative CAPT
tai, IKE the Copper Queen and tbs
Calumet & Arizona Of Bisbee, tlle Ok
Dominion of Golbe. the United VERDI
of Jerome, and the two or three prin
cipsl producers of the Clifton-Morenc
district. are Beyond the need of the as
ISSUANCE it win render and can afforl
10 be Indifferent to what the inTestin.
pablo may think OF the merits Of AT.
zrna cupper stocks They have Sc
cure6 their operative capital and thei
business henceforth is to make cope
and sell it, and they have nothing t
safn BY making.tne puHlic understan
1naL fney piOoncS u az q io"Sf COS
thar other regfcns-no producer {
anything sold in the market has a
interest IN cbeapcrlng the cost Of b
wz-eE
Rut Il IS Tar oihsrwise with tn
sczre OF so Of great copper prospect
Ehfch are PR pairing to take the plae
~ The old producers as they gradual
besozre exhausted Tncse have to a
peal TO the investing stock, for assis
srce 10 develop to that stage Of pr
<Inct1on where a mine can pay its ow
way AID begin to earn dividends
Is important 10 these latter that q