Bisbee daily review., 1908-09-08
FIVE YEARS OFF
IS PRODUCTION
ALASKA COPPER
Requires Millions TO Develop
Field in Far North-Guggen-
helms Biggest Holders
Reports From Producers.


An eminent mining engineer, who
has spent considerable time in Alaska
examining copper properties there,
says: The production OF copper from
Alaska in any amount is at least five
years away. so that no immediate at
tention need be paid TO that situation.
Mining in Alaska is a rich mans
proposition. aud before the Guggen-
helms received their severe jolt in
Wall street. taey were pushing things
in Alaska. They have stopped ag
gressive work now. however. and min
ing there has taken a temporary slump.
awaiting return to better mining
conditions.
Millions of dollars have gone into
this territory, but it will take many
more millions before there viii be any
substantial investment returns, es-
pecially in copper. For some time
work can be attempted only during
six months of the year, and this situa-
ton win apply until the mines are
sufficiently opened under ground to
permit of all-the-year mining. Labor
also is tremendously high, which will
be a deterrent factor.
There are many very substantial
copper deposits in Alaska and in years
TO come that country viii probably be
q valuable mining territory; but
whether or not the Alaska deposits
are OF glacial origin and of shallow
depth, it is too early to say. In the
Valdez district copper has been fol-
lowed to a depth of 400 feet. where it
was lost, but has come in again at "a
depth OF GOO feet
The GuggenAeim railroad will play
. considerable part in opening Alaska,
but copper people need to take no
consideration of copper production
from Alaska for Eve years ait least.
BY that time additional copper sup
plies may be necessity if the electri-
fication of steam roads makes the
progress now in prospect"
Butte Copper Production
The August production Of the Butte
mines viii be about 26.000.0 900 pounds
The preliminary figures show a ma
terial reduction in yield per ton, said
TO be due to temporary lowering OF
the grade of ore mined, the average
return of ore treated by the Wasfloe
smelter being less than IL per
cent copper Some official estimates
make the average even lower.
Parrot and Trenton ore will fall be
low the 3 per cent limit, and Anacon-
da. Butte & Boston and Washoe are
but slightly above it. North Butte,
with a yield of 81 pounds to the ton,
again produced in excess of 100000
pounds.
Utah Consolidated.
Tso Utah Consolidated is shipping
TO she Garfield smelter 500 tons of ere
per day, from which it is securing a
return Of about so pounds of copper to
the ton, or at the rate of 100000
pounds per month. at a cost Of about
six cents per pound.
On the basis of Is "a cent copper,
the company should be showing tSe
largest profits per pound Of copper Of
any producer in the United States, or
a profit of Z "a cents per pound; that
is. after crediting precious metal val
4ues against tae cost of copper.
The Utah Consoli lated Co. should
now be earning at the rate of slightly
under 81 per share per aDnum, as
against the present dividend payments
OF 50 per share per annum in 5O-cent
quarterly disbursements
If the Utah Consolidated Co. does
not build its new smelter. but makes
p fve-yeaT smelling contract with the
Garfield smelter, stockholders should
be in line for increased dividends, as
it is declared by directors that the
company has sufficient cash on hand
TO build a smelter. Therefore, there
would be no advantage in adding fur
Their to surplus.