New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-04-26
AMALGAMATED COPPER
ADVANCE in the Price of Copper
Metal.
RAPID RISE OF STOCK
,ovenue Received from Ana
conda and Other Hold
ings Given.

conda and Other Hold
ings Given.
-. conner metal market is one OF the
- subjects for discussion, owing TO the
20 i, has occupied among the leaders Of
rr.lcamated stock during the recent rise.
,ss market position Of Amalgamated and
.ssociates there are both believers and
he,eyery. which arc necessary to in
fluctuations i'm stock prices. Some
49,. about copper in general and Amalga-
".,ss in particular will afford the student
r,Iues an opportunity TO fix in his own
n,pd the probable trend Of copper prices
:. the stock market during the coming
,seks or months.
The history of copper in the United states
,.s IFS setting chiefly around Butte. which
l.. the worlds largest copper camp More
|,s.n thirty wears ago this camp had its
|tr,h and during that period IN to the end
l., 1872 II is safe to estimate = total pro-
|.,c,ion Of approximately 5000, 600. 600
.ounds Of copper, about one-hfth Of the
,o,al estimated worlds production during
|,he same period The largest mines in
Rrfe are owned by the Anaconda Copper
'rompany aud the two names are iuSep-
|.rahle i'm the minds of copper men. From
|,bs Anaconda mines last year there waa
,urned out close 10 800 100000 pounds Of
,spner. which i'm dollars and cents will ap-
|,royimately amount TO $50.O0o,0oo.
| The history of Butte. like the early his
,orv Of all the Western mining camps, is
|sled with Il story Of adventure, struggle,
,ddcn fortunes and the names Of men who
have figured in national affairs. Marcus
|pglv. James Is. Hacgiu Senator W. \.
|Csrk and s. l. BigelOw have been the best
known OF the men who started life with in
|,inifcaut beginnings and srcW TO he among
|be rich men Of our times. From the
|trugglc for supremacy among the indi-
|vdasl holdings and interests Of the camp
|ras born the Amalgamated Copper Com
any in 1899. The standard oil crowd was
Ikhind it, and tho late ". VI. Rogers was
lts leader and director in all its movements
knd operations
Amalgamated obtained control Of the
uost important mines in the Butte camp,
|ncluding tho Anaconda holdings and Ana
| opda was the camps largest producer of
he rcd metal. In 1910 the position was
hanged. and Anaconda absorbed share
N the Amalgamated mine holdings, and the
mtrol Of several other mines in the camp
anaconda now controls, outside of North
Butte. East Butte and some other small
|,ropertieS. all the mines in the camp. The
|imalgamated Copper Company owns s.
|issSO2 shares of the 4.532,50 shares of
anaconda stocks. 1t also has in its treas
|yrv 100. OOO shares of Greene-C ananea. on
which il has received 80 cents share q
wear. also the stock of the United Metal
selling Company, which company owns 49,
eco shares of the International Selling and
Refining Company. The latter has paid IS
ID share.
The production of copper is not ques-
ton with Anaconda. as the ore is there
and can be produced at a price ranging
around 10 cents a pound as an average.
There has been much expensive work nee
.ssary during the last two years at the
mines. and the most of this work should be
finished and the company receive its bene-
|fts by the end Of this year Various esti-
mates are being made and have been made
by copper statisticians regarding the In
come OF Anaconda if copper sells around 10
cents One of these estimates the present
producing rate at SOo,ooo.OO0 pounds year
and the earnings approximately close TO
|tiW 90 annually. which would he around
IS share. on this basis Amalgamated
|Hould have d handsome income from its
anaconda holdings. which, added to its
other sources of income, would show splen-
|did dividends. much in excess Of It's 4 per
ent. as At present
But the question arises What will hc the
rice Of copper metal? can the production
e kept TO a point where dividends VIII
|srow instead of decrease? There is some
mystery in the minds OF many who have
followed the course of the metal produc-
ion aud market during the last few years
BIS TO what has occasioned the Unusudl buy
|ng Of copper metal which has absorbed the
|sVrplus during the last few months. Even
allowing the question as to this possible
Mysterious buying 10 pass. will the world
|ibsorb the copper which must be thrown
INTO the market by new copper camps in
|he West. from Alaska. and, when the
trouble has been settled from the mines OF
|Nexico?
b1{luG the month OF Mdfth nearly ''V''
I" pounds Of copper were received by IA
|ahc Coast smelters from Alaska, and in
he days when copper metal was around its
high water mark Alaska was not taken
Unto consideration. nor were many other
Producing mines which may be reckoned
|sith soon. ON the other hand, II is claimed
|by the champions of future high prices that
len the last few years the arts and crafts,
The railroads, electric companies and other
|channels open for copper consumption have
een DOING nothing but buy from hand TO
|nouth, owing TO dun times and Worldwide
|ssgnation Of Industries. So, as usual the
ne who is trying to guess the future must
[kagh hnlh .inDs and nan big own Judgment.