Bisbee daily review., 1911-03-26

ne annual report or Phelpss Dodge & Co. for the year ending December 31, 1910, which has just been issued m pamphlet form and distributed among the stockholders tells 8 story of remarkably good busi ness management in each Of the var ious companies controlled by it. The holdings of the corporation include the Copper Queen Consolidated Min ing company, the Detroit Copper com psny of Arizona, the Moctezrma Cop per company. the Stag Canon Fuel company and the Burro Mountain Copper company The work upon the latter property during the past year has consisted of development work only, which has resulted in the location of ore reserves on the fourth level.
 A brief introduction to the report by Dr. James Douglas the president of the company reveals that it market ed during the year 194,13S,69S pounds of copper. of which 139, ,297, ,409 pounds were of the company's product and 54,S41 .2S9 pounds of outside copper sold on commission. Of this total amount marketed, 10O,Sl9,254 pounds were sold in the American market and 93,319,444 pounds were shipped to Europe The average price ob tained for all the copper sold during the year was 12.s26 gents pound. The president also tells in his report of the creation of the office of general manager, with headquarters in the west and of the appointment of MT Walter Douglas to that position.
 Twelve Per Cent Dividends.
 Four dividends aggregating 10 per cent and an extra dividend of per cent amounting in all to $5,399 SIS were distributed during the year.
 The report of MT Walter Douglas, the general manager, tells in brief way of the mining and smelting oper atioBs of the company in the United States and Mexico and appended to it are the reports of the managers, superintendents and heads of depart ments Of the various operating com panies.
 He reports that the company's s mines produced I.644,54I tons of ore and that its two smelling establish ments reduced Of ores and "oncen trates from the company mines 7S7,S9I tons and of custom ores 131, ,O5e tons making a total of 91S.941 tons. From this there was recoye. ad 15S,s05, ,652 pounds of copper. 1895, 5O4.6 ounces Of gold. In addition to this 1,3S1,457 tons of coal were mined and disposed of by the Stag Canog Fuel company.
 Copper Queens Large Yield.
 The Copper Queen mines in Bisbee Welded during the year 596,193 tons of ore, or only forty tons less thar in the previous year. Yet, the r' port states, the furnace yield was 3.53S,4I5 pounds less. Part of this rt duction is due to the fact that 4,39' tons of ore were added to the stocl pile at Douglas during the year bu the decline in percentage of the orr smelted was 0S6 per cent.
 This reduction" says Mr. Doui las. does not mean an actual d cline in the average grade of ore il the mine, but is in accordance witl the policy heretofore adopted in or' CT to prolong it's life. The rule ha been that when a reduction in th cost of mining or the cost of smel ing is secured, which nevertheless allows of Q reasonable standard O profit being maintained, a correspon ing reduction of the ore to be smeltei can be made"
 Mir. Douglas continues.
 While the cost of mining durinl the past year has not yet been no ably reduced. owing to the difficu ties necessarily involved in putin the improved systems of undergroun haalage. etc, into perfect operation the cost of smelting has been lowe ed. Though these ameliorations hay not quite compensated for the redu ton in production, they have appro imsHed it, and probably will mor than compensate for it in the nea future.
 Production of Other Mines.
 The share of the Moctezuma Co per company at the shelter was 2. 6si, ,z72 pounds, a decrease of 2,13 275 pounds from the previous year, dJ 10 shortage of the water supply f' the concentration But this defe