Bisbee daily review., 1908-06-11
ONE YEAR IF
 DEPRESSION IN
 COPPER MARKET
But Horace ]. Stevens Finds That Arizsna Has Stood the Test Very Meak-North American Copper.

AoUGHTON. Mich. June 10.-it Is now practically oae year since the beginning of tae era of depression In the OSSar trade, us market disturb ance first became prominent in June, l907 The twelYe-moBth that has elapsed has been most severe upon the industry. in all parts of the world. and the shores of the commer- cial sea are strewn with wrenkage. Many a promising new company hHs been cut of ia its prime, and the numerous oorporJions that were pro noted solely to sell shares have fal- len in platoons-
 No copper district in any part os the world has escaped the effects of the oataclys~ in the trade. but the severity of the depression has varied greatly Cananea was closed uowu early, and remains unproducuSe, though neariy a thousand men are employed in the camp, and the redue- ton plant is being thoroughly rebuilt Cananea is camp with high grade ore and a tremendous tonnage of ore of low copper tenor. It must be worked with careful attention to all the economies in order to give AtAuf bt iAzC S2lSAA CTS. In Canada, where the largest mines are located, practically every mine suspended work for seyeraI months The Granby, the largest Canadian copper producer, and one Of the really great copper mines of the world. has been operating again for some months. and Is producing ore at the tremendous rate of 25.000 to 60, 900 tons monthly. The next two properties in size and importance in the Boundary district remain some what crippled, but with improved prospects. q In eastern Canada, tne nickeicopper mines of the Sudbury district have continued the even tenor of their way with comparative ly no reduction in output or forces.
 In the United States, the panic con ditfons have brought about widely varying effects in the different camps Alaskan production has come since the start, several years ago. from the coast mines, exceptionally well situated for cheap water ship ments, and despite seven years Of large talk and bright promises. the mines of the Copper river district, in interior Alaska, remain unpcoduc- tive. and practically undeveloped. lacking rail transportation. The coats mines of Alaska, mostly new prop critics. without large cash resources, have been hard hit but the test has separated the goats from the sheep, and the stock-iobbfng concerns have fallen to the rear. The volume Of Alaskan ore shiprrents remains creditabie one, taking into considera. ton the youth of the mines, the lack of corporations with large capital. sVd the difficulty experienced 'E -"
 ing ore on fair terms.
 Montana was very bard hit by the panic Tor some six months, ard ne policy Of the Amalgaanated Cooper company, calling for restricted out put and regulation on the copper trade, made matters much worse thar would have heen the case had the mines been owned by 8 number oi fudependent companies The AJrql zanated has been Tholding the um brelia" over the copper trade for nine years. to tba hepefit of its comped- tors, -aaA is auIe neareT 10 contro! of tho A-rcri~sQ copper trade than when the company was organized ir 1899. That the closing down of the big mines of Bztte was unnecessary was shown conclnsively by the Pitts burg & Montana, a small producer, which continued work and output without Interruption all during
 period of depression, when the in fnitely larger mines of the Amalsa mated were closed Butte produc- tiou remains only 75 to 80 per cent ot normal, but is slowly increasing
 Tn Arizona, the effects of the panic varied in different camps, but, on the whole, Arizona laid off fewer men and effected smaller reduction in output than any other district in the United States, with the exceptions or MlchF gan and Utah. Many Of the oefeloP ing mines in Arizona were forced to suspend, either temporarily or perInh uentlv- but the largest producers, ir- ,~Iudirp inc Conner Queen, Calumet & Arizona. United Verde. Old Domin- ion Arizona and Detroit laid oft buC few men. and reduced production to but a trivial extent The Shannon, which apparently so,SIld have Teen one of the first of the middle-class mines to suspend, surprised even us hest friends by largely cutting costs through great increase in output. Ire Inperial Copper company, in PinIa county. Is arranging to increase pro drction in the near future, and the Sunerior & Pittsburg is increasing Us output as well A number of me smaller mines have nung on remark ablv well, and have demonstrated their ability to take punishment though the difficulty in selling ore. which existed for some months. making the situation very awkward for the smaller. mines lacking smelters of their own. On the whole Arizona has come through the test in a man, per highly 'creditabie to the mineral resources of its mines and the cour' age and sagacity of it's mine man sgers-
 Utah Is the only American state making a considerable production ot copper that has actually increased It's output under panic conditions This increase fas been due largely to single mine. the Utah Copper com pany. which continued its policy of expansiou with but slight attention to putoward market conditions. The IJtah is now handling a tremendous tonnage of iow-gsde ore. and, tax ing into consideration the removal or inc rock overburdeR eapBing It's enormous deposits of perbcaring -,onzouits aE well as actual ore ex-