Bisbee daily review., 1909-06-13
(FFom Iron Ore.)

Sopp~f averages Iltttt Detlef man twelve cents per pound. In active seasons it gets above twenty, and in dull times 1t has fallen into nine, but We do not look for any such shrunken quotation now that we have prosperity well established. In the last copper boom the price went well above twen- ty cents. an unhealthy condition that had to pay severe penalty in the days following. What was needed was some controlling influence such as Steel exhibits to maintain a healthy basis, preventing excesses at either end of the selling market, and spar ing us the injustices received from an abnormal state of things. We now have some sort of reporting committee that is doing good, but 1t will have to extend farther than this .n order to gain the desired end: the securing of a living price. which wei would put at fifteen cents.
 Today there are few of our Lake mines that are In the dividend col umD 10 an extent that gives anything like fair return for the investment Tn the mines. There Is steady de- preciation of copper in the lode. the mineral taken out cannot be replaced and the capital stock is thus steadily being wasted. If we would figure the wear and tear of machinery. depre- ciation of shafts and many things en- tering into the industry we would find very few making anything like a de- cent return to their shareholders, all of which suggests a better understand ing between the producing interests and a better price for the output. To buy shares of mines that can not make copper under ten cents per pound is clearly investing money bad ly under the prevailing conditions.
 All are hoping for better things in <, the way of price, but to secure this
 there will have to be work done be-
 tween the miners. If the game re.
 solves into one where the lowest possible price is to be quoted to consumers il is evident that coppers | will be a very good line to keep ou7 of. There will be a few mines ! that can live. because the shilling a
 pound market is eventually going io
 close up many that are keeping on
 hoping for better prices and who
 look to the large producing interests
 to make some plan under which th }
 business will improve. The big mines
 if there Is to be a fight for markets,
 will completely smother the smaller
 and it would be the height of foliy
 to invest in copper shares of the
 weak concerns if there is to be {
 bitter struggle for the markets O.:
 this and other countries. There are
 several mining companies that can
 considerably reduce their present costs If they worked to their fulies, capacity. Unquestionably, Calumet
 & Hecla could make a considerable
 increase, as could Amalgamated.
 Greene Cananea, Utah, Calumet & Ariozna, Copper Queen,- United Verde and others.
 Greene Cananea, with very large ore deposits which are constantly be ing added to, could increase it's ton
 mage considerably, and this would re
 suit in lessening its present cost. I
 should not be lost sight of that Greene Cananea Is very big copper
 proposition that has not yet showr
 what it really can do in the way O big outputs and low costs No prop erty has made such wonderful re auctions in its cast sheet in the pas few years as has this, and it vii do much better when it gets all tha is to be had. It has sinews to q. much and it has the people behind i !, who do things.
 II Amalgamated could put very muci more copper into the market than nov , if 1t decided to. 1t having the mines , and the means. It has plenty of cal ital and Is giant enterprise, grear CT than most people realize.
 II Butte Coalition is also a produce , that could make big additions, whil' ] Copper Queen, of Bisbee. is a facto ] that would make a surprising outpu !. if 1t felt called upon to do what il ]l could. It is a very conservative or D ganization, but 1t has a vast wealth O 5 rfch ores that it can convert int' , copper at figures that no other con , cern could beat Calumet & Arizon;
 could also make a big increase if ! , went about 1t in a free-for-all figh
 for place.
 What the smaller concerns are hoI ) ing for is an agreement between tn } big interests as then they might stan