Bisbee daily review., 1909-02-10
ALL COPPER ON HAND HAS BEEN SOLD
Or. James Douglas Takes 0ptl- mistic View - No Heavy Stocks in the Market

"I have no knowledge of any heavy stocks of copper in this country. but I do know that the Phelps-Dodse con, pany, which Is the second largest pro ducer of copper in the United States, has no copper on hand, we having sold our product ahead. The figures pur- ! porting to show a very large accumu- lation of the metal are entirely untrust- worthy, and have enianated from pub fishers having no reliable means of ascertaining in what amount Of surplus i cCiDtr realty efsre' said Hr James Douglas. president of the Phelps Dodge Co. Inc, to a representa- tive Cf the Silver Belt.
 "s to the present condition of the copper metal market, l cannot speak advisedly," said Dr. Douglas. "as l left New York several weeks ago and have since been visiting our proper ties in the southwest. Of course. it is true that the production or copper is now very large. in consequence of the resumption of operations at Cananea. the increased output from the Utah district. the new largely could into production by Nevada mines and the larger output credited to Arizona, but it is only very recently that this in- . GTttEe OE CUBntT u1S Ht Auu AO EVlilt into the market, and it is improbable that there should be any very large ex- cess of cooper in this country as yet. The unauthorized reports of large ae- cumulaticns of copper is prc bably re- sponsihie or the slack demand for the metal from consumers.
 The recently organized Copper Pro ducers association. whose first report is now about due, will furnish the only reliable data regarding the avai able stocks of copper. These reports, which will be published monthly, will be ab- solutely correct. as showing the out put of copper in the aggregte, and from the various districts, without seg- regating the figures so far as to indi- cate the production each individual mine"
 Dr. Douglas is of the opinion that these reports, which will ba compiled by statistician of acknowledged abil- ity recently in the employ of the gov ernment, in the geological survey. will be of great importance and benefit to ali interests in the copper business, removing, as they will, very large ele- { ment ni doubt as to the stocks of copDer and the absorption of the metal
 If the manufacturers using copper make known the amount of copper being consumed by them and going into various lines o manufactured arti- . cles. the value of the orea a1ization would be immensely increased and the exact condition of the copper industry revealed" said Dr. Douglas.
 While business, ip many branches. Is as yet far from being normal, it is gaining steadily, slowly, and Dr. Douglas said it was not expected. neither would it be desirable, to have rapid recovery after the severe de pression which followed the panic of 1907.
 Dr. Douglas expressed his satisfac- ton with the condition of the Old DO- Tninion and United Globe properties. There has been a large amount of de velcPnent work done during the past year. and the results have been ex- trcIrely gratifying, particularly in the V sst end of the Old Dominion and in
 the United Globe, where important O.: bodies were encountered. Shaft 4
 hai teeD sunk 200 feet below the 14th level and the 18th and 16th levels are now being opened and the indications are that the sulphide ore body on those
 levels will be found to be as exten- a4Nt anu Gtii " dE Eubu Ndlueb as IL
 does on the 18th level c shaft has
 been opened, and the timberiRg will
 soon be finished to the 12th level, where the new pumping plant-the | equipment for which was delivered ] more than a year ago-is to be in-
 stalled. This pumping plant will be ; one of the largest and best in the southwest, with capacity sufficient to
 handle fuFraaead s,F - likely Co occur in the mine. The ], present pumping plant in A shaft will ] be maintained as an auxiliary. so that : Old Dominion will be dou0Iey secure f from a recurrence of floods which upOn
 two occasions proved so disastrous. It is not expected that any urther , important contraction work will be ! undertaken this year. The Old Domin-
 ion smelter is now complete, having } six furnaces of the most approved < type, and three converter stands. the
 capacity being about 50.0vU,UvU pounas
 of copper annually. The plant is up-
 to-date in every respect and it is
 claimed is now showing the lowest smeiting costs in Arizona.
 9 Orphan Copper Company. The crosscuts on the 500-foot level F nas been extended 175 feet east and ? lS5 feet west. Two small veins of g sulphide were cut in running the east 2 drit and the face of this drift is now
 making considerable water. which, in ! this ground Is indicative Of Che close ' proximity of another vein. The west ], drift should be in ire within the next ? two or three days. having nearly ' reached the dip of vein No. 1. which 2 ran out the footwalI of the shat at 175 :. eet
 i. Carpenters are at work building ad .- ditional lodgings at the camp, and the 2 orce will shortly be increased. 1t fs c expected that the west drift will cut
 three known veins within the next two , hundred feet. and there are four known a veins between the face of the eas- I dT1t and the schist contact, a distance [ of about four hundred feet. Should
 these veins continue to the depth of E the 500-faat level. or merge before : reaching there, the Orphan should be ' in the shipping class within a few , months