The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1915-11-25

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ing company still occupies the position
of leading producer of copper in the
world, as 1t has for the past decade OF
more. The big Montana company has
it in its power to produce 800, 1000 000
pounds of copper year, for in the
past few years greater attention than
ever before has been given to improv-
ing the company's position in every
possible direction. By the end of 1916
or possibly early in 1917 the copper
world Is likely to witness q struggle
ducers with the gigantic Anaconda
combination, formerly owned by the
now dead Amalgamated Copper com
pany and fathered by Standard Oil
millions, against the Chiquiqumata
mine of South America, owned by the
Chile Copper company, the entire cap
ital stock of which, except for $751;
000,0 900 held for bond conversion, was
taken by the Guggenhems and their
associates, including former Anal
gamated director, as their profit for
developing and putting the property
in shape for production,
Haggin, Daily, Hearst.
The original Anaconda mas had
wonderful career. Opened in 1880 as
a silver mine by three men, now dead,
whose names stand for the best in the
early history of mining In this coun.
try. B. Haggin, Marcus Daily an6
Senator Hearst--it gradually veered
around to becoming the worlds pre-
mier copper mine, with silver as Its
principal by-product All went well
in the search for silver until a depth
of about $50 feet was struck, and then
values lessened, but with their dwin.
ding came about rich deposits of cop.
per For time 1t was chiefly chal.
cocite, the richest sulphide ore carry,
ing about 80 per cent copper, and Dor.
nite, running about 55 per cent copper
Other metals were also contained ir
the ores.
During its Is years of existence the
principal assets Of the Amalgamate6
Copper company was majority OF
the stock of the Anaconda company
Until his death a few years ago the
principal factor in the management Of
this copper combination was H. II
Rogers but upon his death the mantle
fell upon the shoulders of John d
Ryan, who, upon the demise of the
company, assumed the
presidency Of the Anaconda Copper
Mining company, which took up the
work which had been outlined by thu
Amalgamated directors. Not only is
the Anaconda company an operating
company of the first magnitude, but T.
is holding company of no mean pro
portions as well. 1t has investments
in other copper companies and 1t is or
the cards, Wall street believes for fur
Their acquisitions before many months
have elapsed. It's principal holdings
are 100000 shares of Inspiration Con
solidated Copper company, which were
inherited from the Amalgamated COM
pany, and 30,S0O shares of Greene.
Cananea Copper company.
May Control Inspiration.
Gossip has it that the Inspiration
control will at some day in the imme-
date future be turned over to Ana.
conda to be eventually absorbed into
it's corporate body Nothing official Is
heard pro or con, but directors of the
Inspiration are on the Anaconda board
in one or two instances and other
are very close In their business rela
tions. Two companies have entirely
disappeared into the Anaconda cor
poration since the policy of expansion
was decided upon. One Is the Unitee
Metals Selling company, which TO-
many years was the largest and mos
powerful selling organization market
ing copper in the world. The other Il
the International Sfelting and Rein
Ing company, young but growinr
factor in the country's smelling indus
try When the Amalgamated Cope,
was formed in 1899 the firm
Of Lewisohn Bros. was a name to be
reckoned with in the copper world
They sold large quantities of copper
acting as selling agents for many Of
the larger companies in Lake Superior
and Montana. To take over this bust
ness and for the purpose Of absolutely
the worlds copper supply
and price, the United Metals Selling
was formed 1t took over thu
contracts which the Lewiston firm
had and members of that firm became
alton. Complete domination of cope
as dreamed Of by Mr. Rogers, who also
founded the Amalgamated COMPANY
with the backing of Standard Oil mil
lions was never realized and through
It's umbrella holding policy the United
Metals agency took several severe
llckings. All that is now gone and
forgotten. There is no desire to con-
troll prices, and If there were, the pro.
ducers have too much respect for the
Sherman antitrust law and its rigid
to try for such an issue
Cut Cost of Production.
Millions of money have been spent
by the Anaconda company during the
past few years in improvements which