Bisbee daily review., 1908-03-29
HE NEVADA
 CONSOLIDATED
 SELLS BONDS
Will Double Capacity of Step toe Shelter From 2,500 to 5000-Company Is Attract i've to Investors.

The success which the Nevada Consolidated Copper company has
 met with in the sale of its $3,000, 900
 of bonds, issued for the purpose of
 doubling the capacity of the Steptoe
 smelter, which will be increaseo
 from 2,500 tons per day to 5000 tons
 per day capacity, has attracted tne at tention of investors and spectators as well, throughout the country. Dur
 ing the past two weeks this issue of bonds. which was underwritten by a
 New York syndicate, and was sub
 scribed for almost entirely by the stockholders, has been actively tad
 ed in and since the subscription vas closed, has advonced in value over 20 points. There is nothing in the entire list of curb securities wnIci appears more attractive for an Im- mediate purchase than Nevada Con- berland-Ely shares, says an ex-
 change Both of these properties are in splendid financial condition and
 both of them are within sixty days of actual production.
 The big Steptoe smeltins plant,
 which is owned jointly by these com panies, and which has capacity of 2,500 tons per day, will be placed in operation about the middle of May,
 at which time the mining of ores from both Nevada Consolidated and Cum.
 berland-Ely will be actively commene- ed. Not only will the ores of these companies be treated, but there will be a large custom business done, which one of these days promises ro
 develop to size sufficient to earn the dividend on the stock of both com .panies, leaving the income derived from their own copper to their profit This smelting plant is owned jointly by these two companies.
 It has been demonstrated to the satisfaction ot all the leading inter ests in both of these properties that they can produce refined copper at cost not exceeding eight cents per pound, which means that at the pres ent low price for the metal a goou profit can be derived This is one ol the most attractive features of these two stocks, for if they can be oper- ated at a profit with copper at such a low figure as is now quoted, they cannot but be very large money mak- CTS with the price of copper nearer normal.
 1t is a well known fact that the Guggenheim interests are in control of these two companies and that they are becoming more and more of fac tor in the copper world. Last year, the Guggenheim interests produced 200, 900, GOO pounds of refined copper. This year this amount will probably be increased to 300,000,000, and in the next two years it seems probable that this will be further increased to 500, GOO 900. The chsapness of produc. ton and the growing importance ul the Guggenheims in the copper world is resulting in an awakening on the part of the AmalgHmated Copper company to the importance of the Guggeaheims in the copper world is resulting in an awakening on the part of the Amalgamated Copper company to the importance Of the Guggen- eim's position, and it is generally be lieved in Wall street that as mat ter of self-preseryation the AInalga- mated interests are likely to buy more heavily into Guggenheim prop critics than heretofore. In fact, | during the past six mont9s they have
 nquestionably largely increased | their holdings in both Nevada Con l solidated and Cumberland-Ely, and it would not be at all surprising, in fact it is generally predicted that tne time is not far distanct when we shall see the largest copper consolidation or ganized which this country has ever known. This combination is likely 1 to embrace not only the Nevada Con and Cumberlan-Ely, but the Utah Copper company, which has al so demonstrated that it can produce Scent copper.
 During the past two weeks both | Nevada Consolidated and Cumber- land-Ely have been very active, more | active, in fact, than almost any of | the other curb stocks. Both have ad' vanced to an important degree and | there is good prospects of their con tinuing to advance oa their merits. Both companies are in excellent f. nancial condition and they are going i to be included very soon among the great copper producing properties of the world.