The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1912-02-20
BETTER OUTLOOK
FOR COPPER

one more step in the concentration
/ OF copper mineownership is REGARDED
In Arizona, following close upon the
recent Inspiration deal at Miami. The
Kay Consolidated, so it is announced
Is about to take over the Ray Central
In the Ray district, this acreage being
quite largely surrounded by that of
the bigger concern. The transaction
! is not unexpected, since the Ray Cen
trail developments have revealed a
large tonnage of grade diseminat-
ed ore, together with fine body of
much better quality. The Ray Gen.
trail company itself was not in posi-
ltion to finance its own needs, and if il
were, it would be inadvisable for it to
erect small concentrator for the
treatment of ore that can better be
left to the large mill of the Consoli-
dated company
One cannot avoid being impressed
by the continuous absorption of cop
per ore reserves by the principal f.
nancial interests of the copper indus
try. The result is unmistakable. The
long -heralded copper trust is quietly
taking form. Divergent interests are
perhaps not so divergent as some i'm
agine. The Lewisohn copper party,
which is already identified with the
international Smelling & Refining Co.,
a year ago relinquished the Ray Cen.
trail group which is now taken up by
a company which is intimately allied
with the Guggenheims But recently
it was that Amalgamated Copper in
terests. reported to be cooperating
Vejf
close ally of the Guggenheims. effert
ed consolidation of ground at Miami,
Arizona, including the ore reserves of
the Inspiration company. One finds it
impossible, in view of these events, to
credit the existence of any real antag
onism among the financial groups
which control most Of the copper pro-
duetion Of America One after another
small proprties have been absorbed
and even now we hear that the Giroux
Consolidated Of Ely, Nevada, viii send
its ores 10 the Nevada Consolidated
plants. This is a perfectly natural ex-
pectation, from an economical point of
view, in spite of the fact that the first
is an Amalgamated institution.
while the second belongs to the
= Guggenheims.
Cohfemp poraneouslv with these an
nouneed changes in the control of the
future copper supply comes the further
reduction in Che present surplus of the
red metal aa1 the evidences of con,
tinuaily revi ing fade The January
state ent Of the Copper Producers as
soeiation tevealed another large cut in
the available domesti resources of re.
fined metal, while the large foreign
consumption continues unabated.
These are the signs Of lettering bust
ness, which are also reflected in the
expanding steel and iron trade. The
price Of copper continues well sustain
ed at close TO l45 cents pound.
Whether or not it is the aim of the
New York bankers to float a large cop
per company to control the industry,
similar perhaps to United States Steel.
1t would seem that the financial and
stock markets are approaching con
dition ripe enough for a reissue of Sc
curties favorable to such a eonsolida-
ton. As thinos now stand, the control
of the industry is evidently sufficiently
unified to secure uniform results This
has been illustrated by the manner in
which the production was held down
in 1911 and the surplus stocks have
been reduced in recent months.-Min--
ing Science