Bisbee daily review., 1909-09-19

MluSs US OSfSAOphSut iiOu RAec' pect at ore time of doubtful value. 1 to one of the greatest mines in ex- istence, would prove a facinatins narrative, but one that probably will never be told in its entirety. occas- ionaIIy Doctor James Douglas, in a reminiscent mood. will tell of the trials and troubles with which ne was heset in locating the bononza ore bodies which have made the Cop per Queen famous the world over,
 and are responsible for the founding and support of Bisbee and Douglas, two of the most prosperous cities in Arizona During the 2s years that the mine was owned and operated by a few individuals as a close corpora- ton very little was known of the inn
 mense profits made. Nor was it real ized that from this one mine, as al 1 foundation, had been constructed one of the vast industrial undertakings
 of the United States, owning mines. smclters. coal mines, immense trad ing stores and the Fl PasO & South
 western railroad system, which alone has played an important part in the ! development of the mineral resour- | ces of Arizona. These smelters. coal mines, stores, the railroad and the towns were necessary adjuncts of the great Copper Queen mine which ere ated them and was for years the sole
 reason for their existence. Its min
 eral wealth supported them and
 made miIIionaires of Phelps and Dodge and immortalized them as the
 ing corporations os the world.
 It was in 1880 that Doctor James
 Douglas purchased for Phelps an, Dodge, the Copper Queen mine. the
 an undeveIoped prospect, in the Mule mountains in the southern part
 of Cochise county, securing an inter-
 est in the property, with which De
 gan the great firm of Phelps, Dodge
 & Co, mine owners and operators.
 By 1908 their possessions had be
 come so great, their ramitications
 so vast that the corporation or
 Phelps, Dodge & Co. was organized I in that year to consolidate the vast mining interests and operate them under one executive system apart from the Fl Paso & Southwestern ! railroad, in which this corporation has no financial interest. The Phelps
 Dodge company was incorporated in
 December, 1908, with a capital Of
 $50, ,00, 900, in 5OO.00O shares of $10O
 each. Of this amount 450,000 shares
 or s45,OOO,00O, have been issued,
 leaving s5.660.0OO in reserve for flu ture operations.
 The corporation owns and operates the Copper Queen company's mines at Bisbee, covering 1000 acres of land. and its immense smelter and
 reduction works at Douglas, having
 a capacity of 5,OO0 tons a day; the
 Moctezuma Copper company, includ- | ing the mines near Nacozari, sonora,
 Mexico. and the mills of 2,500 tons |
 daily capacity at Nacozari and the
 town of that name; the Detroit Cor
 per company, it's mines, mills and smelter at Morenci, Graham coun- ty. Arizona, and the Stag Canyon
 Fuel Company, its coal mines and
 coke ovens at Dawson, New Mexico The statement issued at the time ] of incorporation showed that the
 Copper Queen mine. in the five years I of 1903 to, 1907. inclusive, had produ'
 ced 295,, ,59o, ,6s7 pounds of copper and its net earnings for the same period
 were 22,S6S, ,77S.24, an average or ' over four and half millions year. but 1t is not stated how much or this was distributed in dividends. .i The Moctezuma Copper company for the same five years produced 5S,- S5S,751 pounds of copper and the net earnings were $3,617, ,295.
 }. The Detroit Copper company dur r ing the same period produced Ss,247.- : 8s9 pounds of copper and earned sS'- 467 ,S1O.s1.
 -I The Stag Canyon Fuel company owns ss,71s acres of coal lands, with
 six mines developed, capable of pro
 ducing 120,OOO tons of coal month ! and it's cokfng plant has a capacity