Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1909-10-04

i i. .s19. 164,s2s $500 ,4O5. 7r.s


Decrease
At the above rate of increase of
nearly rs per cent in six years the
company will have approximately
doubled its output by the end of eight
years '.f-.- t,c
1t now seems probable that the price
of copper during the remainder of the
year will not vary greatly from 10
cents a pound, and on that basis the
gross earnings of the company will be
approximately s17,5OO. 900. providing. of
course, that no considerable stocks are
accumulated.
Last year. on production basis OF
1851, 3O4 pounds, after all deduc-
tions, including depreciation charges,
the constituent companies OS the cor
poration under review showed COM
bined surplus available for dividends
Of s5,4S0.O07. equal to 1898 per cent
on the capitalization. The average
price of electroiytic copper in 1908 was
1920 cents a pound and for 1909 ap-
proximately 1916 cents a pound to
date. so that the surplus earnings
for the current year should show a
surplus of at least $4,000. 900. or II
per cent on the capital outstanding.
The foregoing estimate takes into
consideration the company's earn
ings from its many outside sources.
Since January l only $50 shares of
the Phelps-Dodge stock have been
dealt with on the New York stock
exchange. with range of $175 and
s235 a share. The stock is very
closely held. the James family hold
ing absolute control of the company
and the Douglas family about a 10
per cent interest. The last asked
price for odd lots outside the market
was $3.50 a share. At this figure the
present dividend rate would yield an
investor 3.S per cent.
The Shulze group Of copper claims.
located about nine miles west of
Globe and. three-quarters of a mile
west of the Live Oak mine, have been
bonded to a powerful Salt Lake syn
dictate. according to advices received
from Globe. Those interested in Sc
curing the property are said to include
Samuel Newhouse. president of the
Boston Consolidated Mining company.
and well known throughout the min
ing world as one of its most conspic-
uous characters, and John Dern. pres
ident of the Consolidated Mercur Gold
Mines company of Utah. The sum in
VOWED in the transaction is reported
at S25e, 900, Of which the full amount
is due July 81, 1911. The new owners
are preparing to conduct a thorough
exploration of the property by means
of two Star drills and large equip
ment of machinery has been ordered
from the east
two accompaniment vertical shaft
was to have been started last week on
the Augustus claim, under the, super-
vision of j. c. Dick of Salt Lake City.
who will also act as consulting en-
gineer for the company. The new
owners are reported to be now organ.
izing as a development company.
which will be a close corporation with
no stock for sale.
The entry of these interests into
the Globe camp is but another indicas
ton of the widespread interests which
Arizona copper mines are. arousing
among the leading and most success
full operators of the world
f. The Turquoise mining district I'm
Santa Cruz county. which has been
prominently brought to general atten-
ton by. the development of CORTLAND,
as regular and steady producer Of
copper during the few months of its
existence as a camp, is about to be
come the scene of operations of a S.
100000 corporation, known as the
CORTLAND Copper company. recently
organized. This concern controls $40
acres Of what is considered some of
the best mining ground in the district.
This ground is comprised in AZ claims.
81 of which lie north of and close to
the Calumet and Arizona holdings in
CORTLAND, which have shown up so
favorably during the past four months.
One of the groups owned by the new
company has already undergone $780,.
600 worth of development in the past
twelve years at the hands of various
leasers, who took out considerable ore
showing excellent values in, gold, lsil
ver copper and lead. On this group
it is the intention to put a large force
of men at work during the next two
months and shipments to the Doug
las smelters are expected to follow
within a short time thereafter.
This company will be chiefly ex-
plotted in the eastern cities, where a
number of branch offices are now be
ing opened, but the main office Will
be at Pearce. The directorate viii in
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