The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-07-04
OPPORTUNITY KNOCKS
FOR THE SECOND TIME

Inc developments IN lne copper
fields OF Arizona are of such gigantic
even the seasoned mining operator TO
grasp their full import. 1t is, there
fore, not altogether surprising that
those who follow other lines Of com
mercial pursuit have shown such Il
supine indifference to the opportunities
in the new fields now being exploited
with such success by eastern capital,
says the Los Angeles Mining Review.
Some years ago the best mining prop
osltions in the territory were offered
to local investors, but in pursuit OF the
germ of high finance as eXemplified
by the real estate business, the en-
couragement Of the tourist and the
cultivation of the orange, Los Angeles
has no time for even n cursory eXaml
nation of the great chance then offered
Opportunity is knocking for the second
time at our doors, and apparently the
summons falls upon ears as deaf as they
were in the days when we believed that
the increase in real estate values would
rival the chimera of perpetual motion.
Last year Arizona took premier
place among the copper producing
states and territories of the Union with
2S9 100000 pounds of refined product,
compared with 252 .503 Col pounds for
Montana and 222 ,2S9.5S4 pounds for
Michigan. The increase. great as it was,
owing TO the remarkable improvement
in the methods of handling the great
ore bodies which some years ago were
considered too low grade for profitable
exploitation. The development of the
DISSEMINATED perphyry ore bodies at
Kelvin aud Ray, for instance, has add
ed untold wealth TO the territory. and
within tho next few years legitimate
enterprises of this nature will be selling
on the open market at the enormous
figures commanded by the older es-
tabhshed enterprises in other parts Of
the territory, in Michigan and in Mon.
tana.
The popularity and financial worth
Of what is now known as the EJunior
Copper series of mining stocks first
attracted public notice through the
wonderful developments of the Utah
Copper company in Bingham Canyon,
Utah, For many years Mr.. ID. c, Jack
ling. who may justly be termed the
father of the methods of profitable ex-
traction of low grade porphyry ores,
was unable to find backing for the plans
which have now been carried to ma
turity. The successful fulfillment of
his promises started the inquiry in SINH
lar fields and Arizona is now on the
eve of the greatest era Of her copper
producing career.
At the Ray Consolidated alone, over
placed in sight since the present com
pany acquired the property, and il is
reliably stated that copper can be pro
duced at 8 cents. In other words,
profit of over $30,O00,0 900 is in sight
if copper remains at the present price.
and with every rise Of one cent in quo
tations the profit will be increased by
nearly ten million dollars, Starting at
a little better than So per share this
security has already advanced to $l7,
and even at the latter figure is only
selling at valuation Of about fourteen
millions Ray Central, Gila Copper and
other properties in the same nelghbor-
hood have found great favor in eastern
markets, but, SO far, Los Angeles, in
a general way, has neglected her oppor-
tunity almost entirely. Several Of the
largest holders Of Ray Consolidated are.
however. residents of the city and IN
this way Los Angeles will profit,
But it seems remarkable that city
of such size and wealth should be so
blind TO the immense advantages to be
derived by securing control Of some Of
these great producers in the tributary
territory. Opportunity is said to knock
but once. In the case of Los Angeles,
Arizona is knocking for q second time,
and so far to little purpose.