Los Angeles herald., 1909-12-23
PLANS LUNCHEON
FOR COPPER MAN
SIERRA MADRE CLUB WILL
ENTERTAIN GRAVES
Visitor Starts the Grandby Company
to Operate on Low Grade Ores,
Against Advice Of Doubters.
Employs 900 Men

The Sierra Madre club is planning
to give a luncheon within the next two
weeks to Jay =. Graves, the most
prominent copper man operating in the
Dominion of Canada, who, accom-
panied by his son, Clyde NJ. Graves,
and their families. arrived a few days
ago at the Maryland hotel, Pasadena,
for the winter.
Mr. Graves, who is a resident of
Spokane, Wash, is vice president and
general manager of the Grandby Con-
soidated Mining, Smelling and Power
company, limited, operating in the
Boundary district, British Columbia.
This company is the biggest producer
of copper in that country and was
started by Mr.. Graves about twelve
years ago. at a time when the doubt
ers predicted total failure for the en-
terprise, .arguing that he could not
make such low grade proposition as
the one presented pay anything.
But Mr.. Graves, being one of those
men who believe that he who laughs
last laughs best, went ahead with his
endeavor, meeting with success at al
most every turn. until today he en-
ploys on the works about 900 men. 500
of whom are at the mine and 400 at
the smelter.
Stock Values Increase
The company took its present name
in March, 1901, being organized under
special act Of the provincial parlia-
ment of British Columbia, with capt.
talization of s15,0O0 900. In 1906 its
stock was increased from $40 to S10o
share par. The stock is now listed on
the Boston stock exchange.
The Grandby owns forty-three
claims. 500 acres of mill and smelter
sites and 500 acres Of miscellaneous
lands the principal properties being in
the Osoyoos mining field, very near the
United states line. The ore Is exclu-
siVely chalcopyrite, averaging only
about II per cent copper, with an
average of four-tenths ounce of silver
and $3.50 gold a ton
The smelter is conceded by the high
est authorities, including Horace J.
Stevens, to be the largest and best
equipped in Canada, and among the
reduction plants of the world is second
only to the great Washoe works at
Anaconda. being of about the same
size as the smelters Of the Copper
Queen and Boston and Montana. The
plant is of 5000 tons daily capacity and
has been enlarged repeatedly with
every prospect that eventually 1t viii
reach a capacity Of not less than 10000
tons ually.
Large Copper Production
The production for 1908 was 21,162,-
926 pounds of copper, 300,953 ounces of
silver and 40,139 ounces of gold. This
production was secured from S54,432
dry tons of Grandby ore and 24,l79
tons of custom ore smelted. The net
cost of copper after the deduction Of
gold and silver was S.35 cents a pound
in 1906 and increased to 1924 cents a
pound in 1908 The Grandby has not
vet reached its productive limit, and
so 900 900 pounds Of fine copper Is the
ultimate output predicted.
Good management has been mainly
responsible for the great success OF
the Grandby, and with ore reserves
among the largest in the world Mr..
Graves is secure in the high position
he holds in the realm of copper pro-
ducers.
Mr.. Graves is also the promoter and
president of the Inland Empire Rail-
way company, owning city and SUI
burban lines in and about Spokane
Wash, One of these operates from
Spokane to Coeur d'Alene city, a dis
tance of forty miles. and another line
to Palouse, about fifty miles distant
The railway will eventually be run to
Lewiston, Idaho.