Bisbee daily review., 1910-10-09
Problem of the Porphyries
lMines and Methods).

lMines and Methods).
 The probable genesis and extent ol the deposits of copper ores in the new iy developed so-called porphyry mines n Sc tar as it may aid conjecture as to possible continuance or realiza- ton sf present and promised future prodigious out put of red metal from these peculiar deposits is of momen tous concern. not only to those en' gagged in operating the old-fashioned mines. but to vast industries which
 subsist upon the manufacture ol the various products of which copper forms an essential ingredient. To those industries successful operation depends far less upon the low price. or a price uninfluenced by daily mani puiason of the share market. It would matter little to the metal manufac. turer whether the price was twelve or sixteen cents a pound if he could be reasonably certain that product of sixteen-cent copper would not have to compete in the market with the products of lower priced metal. On the staer hand, the demand of the consumer for the manufactured pro- ducts would undoubtedly be stimulat- ed aRd become more stable and uni form if it were understood that wait ing for lower prices would be un- ayailing. But how to bring about conditions which will insure stability in a price which shall afford fair remuneration for the cost of produc- ton of the metal, is a subject which for & long time past has engaged the best thought of all conservative producers. It so happens that the combined productton Of these new porphyry mines during the past two years almost balances the worlds surples stock of the metal at the present moment, So that, in the ab- sence of these new producers. we sholIld doubtless have had continua- tion of the wild fluctuations and high prices of 1906-7; and one may we'll
  question whether general trade con ditioRs would have suffered more under abnormally high than the un- profitabiy lGw metal prices which have prevailed.
 But these mines are here and here to stay. at least for a time. The
 Nevada Consolidated Copper com psny has proven it's ability tot pro- prices far below any rate that has thus far been reached since it's ad vent into the ranks of the great producers, and therefore it does nor seem quite consistent to ask or ex- pect tiis company to curtail it's out put in order that it's less fortunate, or less provident, neighbors may be provided with profitable market for more costly product. It would. therefore, seem quite possible that any attempt at a general curtailment of production must leave this prop erty out of consideration.
 Nevertheless, there are certain facts which if fairly understood, strongly suggest the importance of a reason able conservation of the ores, even Of this mine, against time when the price Of it's product should bring considerably more in the market than the price of today. If it could be assumed that the values of these mines would continue to indefinite depths, as has been universally found 10 be true of other classes of copper deposits throughout the world, the case would be different. But on the contrary, whatever may be the Opin- ions cf engineers as to the origin of the ores which form those interesting deposits, tiere seems to be general concurrence in the belief that they are entirely superficial in character and that therefore the approximate can be determined with reasonable certainty. For instance, exhaustive and systematic developments of the ere measure of the Nevada Consoli- dated company seems to show that the limit of expectancy of commercial Iy profitable ores, contained in the entire property does not exceed forty million tons which, at present rate Of recovery of about thirty pounds of copper per ton, would afford a gross ultimate yield of about twelve hundred million pounds of copper, equal in value at the present prices of the metal and rate of net earnings, to about s72,000, 900 or s3S per share of it's capital stock At the present rated capacity of the plant the entire ore supply would be exhausted with in aoout elevent years. If by con servation Of a say Ia per cent of the daily output of ore. 15 cents pound could be secured for the copper pro- euoed, the net yield in value per share would be increased 50 per cent or to S54 per share capital and the time in which the whole would be reslized would only be extended a little more than eighteen months and therefore it would seem that the ex- pedicncy of slowing down little sneaid receive early and serious con sfS~-~@fon