Bisbee daily review., 1908-01-26
HISTORY OF \. [. CO.
 VERY INTERESTING.
Significance of Election of ].
 G. Hopkins To Presidency Of Scotch company-May
 Mean Improved Methods.

Friends of J. G. Hopkins. recently elected president and managing di rector of the Arizona Copper Co. pre- dict that under his aggressive manage ment the company will be developed into one of the leading copper pro ducers in the United States, says the Boston News Bureau.
 The history of the Arizona Copper Co. reads like a romence and Mfr. Hopkins just elected to the head of the company was primarily respon- sible for the organization of the com pany.
 It was 25 years ago that Scotch peo- pie wao had invested in American cattle and western ranch lands through the instrumentality oT F. D. Underwood. of New York, until re- gently president of the British Colum- bia Copper Co. and J. G. Hopkins, located with Underwod in Kansas City lost every dollar they invested in that enterprise. With view of re- couping their losses, they made a small investment in some mining claims in Arizona, upon the recon. mendation of MT Hopkins, and or ganized what is now the Arizona Cop per Go. At that time the ore devel- oped was high grade, and for the first year the shipments, though small, were profitable, inducing the new owners to develop the mines on a larger scale. and to start the building of a railroad from Clifton to a con nection with the Southern Pacific, 100 miles distant
 The development of the Drop critics. however, soon showed decreasing values with depth and tho railroad proved far more expensive under taking than originally anticipated The money son gave out and it was necessary to form mortgage company in Scotland to help finance the rail road. In the meantime, copper prices fell to unprofitable Figures and ship ments were suspended. Default was made on the bond interest of the railroad and for five years operations at Clifton were carried on in 8 desul- tory manner.
 As a last resort the unfinished road to the mines was offered to the Scotch mortgage company in release of all claims but that company re- fused to take over an enterprise which, after nearly 10 years of work had proved a failure and they de- 1 manded that the managers of the copper company work out the proposi. ton to the best of their ability. At that time the stock of the com pany was selling from 25 cents to 30 cents per share for the tten 100000 shares, par value e4 each. This was about 15 years ago.
 In an endeavor to work out the proposition distinct improvement was noticed in underground conditions and | several enterprising Americans quiet ly picked up many thousands of shares from the Scotch people for SUNDAY-GALLEY TWO
 few cents per snare.
 One of these Americans was Mir. Hopkins, now president and managing director, then clerk at Clifton in the employ of the company, who corralled 5000 shares of the stock at around | 30 cents per share.
 l With the improvement in the af- | fairs of the company the share capital was increased from 10000 to 400,0 and the par reduced from e4 to e1. Still later the share capital was iI- creased to 1,600.00O shares in pre- ferred and common stock and the par alue reduced to 5s each. This capital 1 still remains and the company has been paying dividends of s125 per share per annum or Sz,000, 900 per annum for some years.
 The above 5000 shares of the e4 stock acquired by MT. Hopkins 15 years ago are now represented by 80,. 900 shares. It is figured that they ! cost an average Of two cents each and now have a market value of about s1,O0o,O0O, notwithstanding the depre- l ciation in copper shares, and they are receiving annual dividends of $10O, ,oO0.
 The Arizona Copper Co. has bean regarded. notwithstanding it's great record of earnings, as one of the porest managed properties in Arizona. This condition, however, has been largely because of the foreign manage ment, which has not been progressive and has been located to far from the scene 0 operations.
 The company is now outputting about 2S,00o, 900 pounds of copper per annum which Is about the limit of It's present plant, It's smelter is literal ly falling to pieces and the property is physicallyiin poor condition. Mir. Hopkins has long appreciated the necessity of more aggressive management and he is on record as stating that in his opinion the produc- ton can be increased 50 per cent and copper costs reduced cents per pound
 He will endeayor to carry his ideas into execution. This will involve the building of a, new smelling rlant ana the combination into one of the four concentrators and the four power plants.
 It is not at all unlikely that the eiec- ton of Mir Hopkins 10 .he presidency q the Arizona Copper Co may nave an important bearing mon the rela- tionship between that company and the Shannon Copper Co. for the two comuauies have many things in cou1-