Weekly Arizona journal-miner. [volume] (Prescott, Ariz.) 1903-1908, 1908-02-12
rINNEy THINKS l4.cENT COPPER
ALL RIGHT.

ly general manager Of the Humboldt
smclter and mines Of the Consolidated
Arizona smelling company, has just
returned from few weeks trip TO
Boston and other eastern points. lie
will leave for the mines Of the London.
Arizona company in few days in
company with an eastern representa-.
tive of interests identified with the
company. In discussing the general
condition of the copper market and
the feeling towards the industry in
Boston, he says:
Gas we all know, Boston is the cop.
per center of the world. II was made
so by the great Calumet and lIecla of
Michigan, the money for whose dcvel
opment came from Prof. Agazzis and
his associates some thirty-six years
ago. The Calumet and Hccla has re-.
turned to its stockholders in this pc.
riod sl05,000,O00. This has been sufli.
cicnt to convince the Boston people
that copper as profitable, stable and
longlived investment stands second
only 10 steel. Men, women and chill.
dren of Boston and vicinity seem TO
know as much about copper as we who
discover, develop and operate copper
properties in the Rocky Mountain
states.
| Because copper rose TO the abnor-
NAL and nonsensical price Of 20 cents
per pound and fell back to 1919 cents
per pound the Boston view Of copper
was not changed. The New York con.
tingent thinks that copper having
reached 26 cents, and having dropped
10 1874 cents, the industry was well
nigh destroyed. But they do not un.
derstand copper in New York as tney
do in Boston. Boston people are as
ready as ever to pursue the develop
ment of real copper properties. They
have just undcrwritten the new bond
issue Of the Utah Copper company.
They have just acquired from New
York interests the properties Of the
Consolidated Arizona Smelling com
pany and propose TO put that company
on firm basis for the development OF
the northern part Of Arizona.
Cooper is now selling around IA
cents n pound and the Calumet and
Hecla interests have stated that IL will
remain there for n long time to come.
All copper properties which deserve to
be classed as sucn, can make all the
money they should make at 1lcen'
copper. All the great fortunes in cop
per were made during the period OF
twenty years prior to 1906, during a
period when the average price wa
1914 cents per pound.
$50 far as can be ascertained, the
visible supply Of copper in the United
States is small, and IL any sudden hom'
tdemand should spring up, copper woul'
jump to "A considerable higher price.
= "Since Arizona has taken the lead il
copper production, it has attracte'
more strongly than ever the attention
Of eastern copper people and they ar
, looking for stronger position in tn
" Territory. They have been attracte
to Arizona because. during the Stun
in prices, the Territory has suifere
less than any other district. This
due to the fact that her bodies are bi
and her ores easily mined, because tn
ores are Of such a character rs TO max
them easy 10 smelt Hence Arizona col
= per mines are producing copper at
- lower cost than any other state in n
Union
" cooper consumption is nj low eli
at the present time. This is due moi
to financial conditions than to an
w falling off in the normal use Of cope
, II the financial eenters were in p
-" sition to take the securities, consum
- ton of copper would rapidly return
it's normal condition. The business
" electrical construction and the mul
NJ tudes of manufactures in which copp
is used have not been destroyed. III
-. business is simply damned up.
will continue to back up until soon
* or later it will break over the BARR
" and the country will again be food
~, with business.
:" "what happened TO copper has al
:. happened to steel, zinc, lead and Z
= except that the fall OF copper
greater because its price had been II
nv nipulated to basis so artificial Il
:. but one result was expected by eopI
!, people.
-, eastern investors and copper peol
have no misgiving as TO toe future
~ "a. natal They arc Of the opinion a